Cryptocurrency Mining Sales Cool in Q3, Says Nvidia

in #cryptocurrency • 7 years ago

Chip maker Nvidia said this week that it will remain "nimble" in its approach to cryptocurrencies, even as it reports a quarter-over-quarter decline in revenue for related products.
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The company released its third-quarter results on Nov. 9. Among the notable data points, per Bloomberg: revenue for cryptocurrency mining-related products came in at $70 million, a decline from $150 million during the second quarter.

Nvidia suggested in an earnings call statements that this decline was driven largely by an up-and-down market that is susceptible to shifting demand. According to Colette Kress, chief financial officer for Nvidia, the cryptocurrency market is "volatile" and thus will not affect the company's focus on core gaming market.

The company's chief executive officer, Jen-Hsun Huang, noted at the time that the sales of graphics chips are "benefiting" from the growth of mining.

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Petitponey

#bitcoin #mining #nvidia
7 years ago in #cryptocurrency by
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