The Best GPUs for Mining Cryptocurrency in 2019

what does nvidia announcement means for bitcoin

The extra boost Nvidia Corp. Nvidia released second-quarter earnings and noted a shortfall in crypto sales in addition to the forecast.

Nvidia had experienced stronger sales earlier this year by those seeking to mine for cryptocurrency like ether ETHUSD, That forecast is likely going to drop sharply. One analyst asked if Nvidia knew how much of its GeForce graphics card business had been driven by crypto. Advanced Micro Devices Inc. AMD, A year ago: Nvidia is more bullish on crypto than AMD.

The news means investors who were targeting Nvidia as another way to play cryptocurrency might want to move elsewhere for now. But Nvidia is still reporting strong growth in its other segments, including an Follow her on Twitter tpoletti. Economic Calendar Tax Withholding Calculator. Retirement Planner. Sign Up Log In. Opinion: Nvidia says crypto-mining boom is over for now. By Therese Poletti. Comment icon.

Text Resize Print icon. By Therese Poletti Columnist. More from MarketWatch The No. Therese Poletti. MarketWatch Partner Center. Most Popular.

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what does nvidia announcement means for bitcoin

Crypto Mining Isn’t Going Away

However, when a company creates an exit for a high margin cash flowing business, it usually indicates diminishing growth or margins. This could also indicate a continued bear market for Bitcoin. ASICs allow for faster processing of Bitcoin node computations and are now considered the only viable chip for mining Bitcoin and its forks. Other producers include Intel, Canaan Creative and most recently Samsung. Besides building chips for Bitcoin mining operations, Bitmain began working last year on an artificial intelligence product Sophon to compete with other giants Google, Nvidia. Bitmain also owns and operates Antpool and BTC. Wu has been fairly controversial in his beliefs about Bitcoin and scaling, much of which has been at odds with by the community at large.

what does nvidia announcement means for bitcoin

Origin Of Bitcoin Dominance Index

Latest Insider. Bitcoin Cryptocurrency. He is focused on finding great businesses meanns the long run. Until then, NVIDIA investors will need to remain patient, as it looks set to witness turbulent times in the near term. I consent to my submitted data being collected and stored. Related Articles. Windows by the numbers: Windows 10 hits late wall, stalls. The extra boost Nvidia Corp. Sign In Register.

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