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Nvidia suffers from a situation on the cryptocurrency market

Against the background of decreasing sales of video cards for mining, its stock indices fell by 6%.

Even though this year shares have risen by 34%.So is it really mining that’s to blame for all this?

The company says they hope for the gaming industry. Mark Tepper, president of Strategic Wealth Partners, is confident in Nvidia's future growth given its presence in a fast-expanding market.

 

"Our revenue outlook had anticipated some $ 100 million, while actual crypto-specific product revenue was $ 18 million. Whereas we had previously anticipated cryptocurrency to be meaningful for the year, we are now projecting no documents going forward. "

Colette Kress, chief financial officer at Nvidia
 

Either miners switched to competitors, or they lost interest. Now the only hope for gamers.

2 years ago

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