American-based computer hardware producer Nvidia reportedly earned nearly $1.35 billion more due to crypto and blockchain than it had stated. The numbers were calculated by RBC Capital Markets analyst Mitch Steves, financial news website Market Insider reports on Jan. 31.
Steves reportedly said in a note released on Jan. 30 that that according to his calculations, Nvidia generated about $1.95 billion in total revenue related to cryptocurrency and blockchain, noting that the official company’s statement said that it generated around $602 million over the same time period.
His calculations reportedly revealed that the Nvidia’s total crypto-related revenue from April 2017 to July 2018 should be around $2.75 billion. This estimate is based on the hash rate of Ethereum (ETH) and other cryptocurrencies that required graphic processing units (GPUs) at the time. Nvidia decreased its financial estimates for Q4 for the fiscal year of 2019, citing the decline in mining alongside weaker gaming and data center sales as the causes.