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

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Fri, 17/08/2018 - 15:06
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Demand For Nvidia Mining Chips Plummets (What Else Is New?)
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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.  

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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