Nvidia (NVDA +0.66%) is the top provider of graphics-processing units (GPUs) used to mine proof-of-work cryptocurrencies. For example, Bitcoin‘s (BTC +0.08%) total coin supply is capped at 21 million — and Nvidia will play a big role in mining the remaining tokens.
As a growing number of Bitcoin tokens are mined, mining the remaining token supply becomes increasingly difficult. As a result, a greater load of computational power is required to complete the calculations needed to mine a new Bitcoin.
In light of growing demand for this crypto and other proof-of-work cryptocurrencies, Nvidia could continue to see rising demand for mining-related processors.
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