“We believe we’ve reached a normal period as we’re looking forward to essentially no cryptocurrency as we move forward. Our revenue outlook had anticipated cryptocurrency-specific products declining to approximately $100 million, while actual crypto-specific product revenue was $18 million, and we now expect a negligible contribution going forward.”Furthermore, the CEO of Nvidia Jensen Huang has added:
“In the beginning of the year, we thought and we projected that crypto would be a larger contribution through the rest of year… But, at this time, we consider it to be immaterial for the second half.”See more for yourself, here. This isn’t the first case of a mining operation closing of recent months, indeed we have seen a large amount of cloud-mining operations close or reduce their customer base as a result of falling profits, the difference here though is that when profitability shoots back up, cloud-mining companies will be able to boost their customer base once again. I fear with Nvidia though, they may fall behind on the technology over time and could be at risk of losing out, if and when cryptocurrency mining becomes more profitable again. Is this something Nvidia might regret in the long run? Who knows. Mining obviously didn’t suit their future plans and obviously hasn’t proved to be a reliable venture, perhaps they will use their resources to tap into other forms of blockchain technology, or, maybe they will find themselves focusing harder on the gaming technology, whilst in the meantime their rivals fraction off and continue to explore mining and blockchain. In this instance, maybe Nvidia will eventually take total control of the gaming market, who knows.