Nvidia Sales to Crypto Miners Wane: Is the Crypto Mining ‘Goldrush’ Over?

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Nvidia Sales to Crypto Miners Wane: Is the Crypto Mining ‘Goldrush’ Over?

Postby kreslik.news » Thu Aug 16, 2018 6:00 am


American tech company Nvidia has reported a “substantial” decline in revenue as the cryptocurrency mining industry slows. The announcement came in a report of the company’s Q2 earnings published on Thursday.

Nvidia CFO Colette Kress said the decline in sales to crypto miners was not exactly a suprise for her company, although the dip was much more significant than what had been expected. “Our revenue outlook had anticipated cryptocurrency-specific products declining to approximately $100 million, while actual crypto-specific product revenue was $18 million,” she said in the report.

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“Whereas we had previously anticipated ... (read more)

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