Nvidia nurses 'crypto hangover' as demand for mining chips evaporates
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.
Nvidia nurses 'crypto hangover' as demand for mining chips evaporates
Nov 16, 2018, 3:50pm UTC
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.