NVIDIA Reportedly Sold $175 Million Worth of Ampere GPUs to Miners

Image: NVIDIA

Frustrated about the lack of GeForce RTX 30 Series stock? Miners might deserve some of the blame. According to a report from Barron’s (via Bitcoin.com and Moore’s Law Is Dead), NVIDIA sold a substantial amount of its Ampere graphics cards to ether enthusiasts instead of gamers.

“For the quarter in review, Nvidia sold at least $175 million worth of new generation GPUs to ethereum miners, helping the outperformance,” Bitcoin.com reported based on a note from RBC Capital Markets analyst Mitch Steves. “The analyst had guided sales to miners to come in at $150 million for the quarter.”

“Steves noted that the upcoming network upgrade of the Ethereum blockchain, also known as Ethereum 2.0, which is scheduled to take place sometime in December, demands that miners switch over to more efficient mining hardware. Nvidia’s new Ampere GPU chips are thought to meet that need.”

Moore’s points out in his latest video that NVIDIA’s business with miners might explain the discrepancies between shipment and delivery numbers. Remember how he previously alleged that green team would be flooding the market with Ampere GPUs in response to AMD’s Radeon RX 6000 Series? One theory is that those cards actually went to non-gamers instead.

On the other hand, Radeon fans may have a little less to worry about in terms of miners buying up their product. While Radeon RX 6000 models have also been impossible to find, AMD reportedly “nerfed” the mining performance of its RDNA 2 architecture so its cards only make sense for gamers. This seems plausible, as red team could use a major marketshare/mindshare boost in the gaming segment.

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