NVIDIA, the maker of GPUs used in cryptocurrency mining operations, has given credit to mining for some of its massive growth this year. Both the CEO and CFO have extolled cryptocurrencies and Blockchain, citing the company’s growth because of them.
NVIDIA CFO Collette Kress has stated that cryptocurrency mining is one of the main drivers for the company’s huge growth through this year. Mining operations have increased, and the need for GPUs continues to rise, especially with the current run up in Bitcoin prices making mining profitable. Kress said:
“We served a large portion of this specialized market with a dedicated board for mining cryptocurrency.”
CEO on board
CEO Jen-Hsun Huang also expressed his belief in cryptocurrencies and Blockchain, saying:
“Cryptocurrency and blockchain are here to stay. Over time, [cryptocurrency] will become quite large. It is very clear that new currencies will come to market. It’s clear the GPU is fantastic at cryptography. This is a market that is not likely to go away soon. Our strategy is to stay close to the market.”
Ironically, competitor AMD has taken the position that cryptocurrencies will not significantly boost its long term sales.