[erjiang]

It makes sense to me that gamers as a market are more likely to be brand-loyal and gaming is also more moat-able than hashing.

For miners, they just want whatever does more hashes per second. There's no loyalty there and the hardware is competing solely on hash/power/cost. For gaming, you have proprietary software and APIs like "RTX"-branded stuff, game-specific driver optimizations, etc. where you can better defend yourself against AMD.

So for Nvidia, if they're going to sell X GPUs either way, they'd rather sell to gamers than miners to help preserve their gaming market share which plausibly has more long-term value. Just my guess, at least.