Despite the CEO's insistence that Nvidia is not in the business of cryptocurrency or distributed ledgers, there is a shortage of the company's GPUs and they are admitting that crypto mining is a key driver.
“[Cryptocurrency] is not our business,” he said. “Gaming is growing and workstation is growing because of ray tracing.” He noted that Nvidia’s high performance business is also growing and these are the areas he wished Nvidia could allocate units for. Huang explained why crypto miners are using Nvidia’s products echoing what he told me in an interview last week. “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,” he said, adding “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.”