NVIDIA GPU to production no longer mining, although cryptocurrency and blockchain technologies are becoming more popular every day, the world of crypto is not without problems as market is going at the moment, which may negatively impact a wide range of business, including Nvidia.
NVIDIA, one of the world's leading producer of GPU, recently announced that they will no longer compete in the market of mining cryptocurrency. The company confirmed that officially will be out of the market cryptocurrency related products.
Colette Kress, Chief Financial Officer, stated:
Our earnings prospects against special products cryptocurrency after made the calculations decreases to $100 million, while income of specific crypto-related products was $18 million.
NVIDIA has experienced good growth in sales of related products mining cryptocurrency. However, the company still Trouble counting this sale, as the number of outstanding graphics card is still sold for the PC. Although this is a good development for the manufacturers of graphics cards, Nvidia hopes this trend disappeared.
The CEO of Nvidia, Jensen Huang, agree with the CFO by stating:
At the beginning of the year, we think and we project the crypto it will become a bigger contribution throughout the year 2018 but, at present, does not correspond to our expectations. "
Lately, Nvidia is also very involved in various studies of AI. Interestingly, Bitmain, also known as the largest producer of ASIC, has recorded a profit of $1.1 billion in the first quarter of 2018, although the nature of its market is still in a bearish conditions while there were still many mining ventures are also of interest.
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