Demand For Nvidia Mining Chips Plummets (What Else Is New?)

News
Fri, 08/17/2018 - 15:06
Alex Dovbnya
The era of GPU mining is inching closer to its end. After the disastrous Q2 earnings reported by AMD, Nvidia, a US-based graphics giant, followed the lead
Cover image via U.Today

The era of GPU mining is inching closer to its end. After the disastrous Q2 earnings reported by AMD, Nvidia, a US-based graphics giant, followed the lead. The company’s CEO Jensen Huang said that Nvidia’s Q2 profit from mining equipment sales had failed to meet their expectations– they didn’t touch the initial $100 mln predictions, only earning $18 mln in chip sales.

That’s even a more impressive decline if you compare to their previous earnings– almost $290 mln in Q1. The crypto-related losses have provoked a visible drop in Nvidia stocks.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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