Nvidia nurses 'crypto hangover' as demand for mining chips evaporates

Nvidia nurses 'crypto hangover' as demand for mining chips evaporates

5 years ago
Anonymous $L9wC17otzH

https://www.cnbc.com/2018/11/16/nvidia-nurses-crypto-hangover-as-demand-for-mining-chips-evaporates.html

Chipmaker Nvidia was a major beneficiary of the crypto-boom last year. But by now, the party is over and the hangover is starting to set in.

In its disappointing earnings report Thursday, Nvidia executives outlined a drop in revenue for the current quarter based on lack of demand for its gaming cards. Cryptocurrency mining had fueled demand for those chips late last year. But that has all but dried up as bitcoin and other cryptocurrencies' prices nosedived and "mining" for many of those is no longer profitable.