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

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.