Nvidia: Boost in GPU Production Needed to Meet Cryptomining Demand

Mar 27, 2018 at 23:55

Leading computer software and hardware developer, Nvidia said that it must increase production of graphics processing units (GPUs) in order to avert a shortage caused by rising demand from cryptocurrency miners.

“We’re sold out of many of our high-end SKUs, and so it’s a real challenge keeping [graphic cards] in the marketplace for games… We have to build a whole lot more, we’ve got to come closer to the demand of the market and right now we’re not anywhere near close to that and so we’re just going to have to keep running,” the company’s president and chief executive officer, Jen-Hsun Huang expressed in an interview with TechCrunch.

He added that among the reasons why demand for their products surged is due to the decentralized nature of cryptocurrencies.

“At the highest level, the way to think about that is because of the philosophy of cryptocurrency – which is really about taking advantage of distributed high-performance computing – there are supercomputers in the hands of almost everybody in the world so that no singular force or entity that can control the currency,” Huang further stated.

However, despite the GPU shortage, he mentioned that crypto miners still comprise only a small portion of Nvidia’s total business. It can be noted that Nvidia’s GPUs are preferred by both gamers and crypto miners due to its perceived better processing capabilities against competitors.

Earlier, Nvidia already announced that its expected revenues from cryptocurrency miners had beaten expectations.