Bitcoin Forum

Nvidia Made Billions From Ethereum Crypto Mining Says Analyst

https://www.trustnodes.com/2019/02/02/nvidia-made-billions-from-ethereum-crypto-mining-says-analyst

Very interesting, I thought mining is dead in this bear market, but it looks like NVidia is still making profits selling boards to potential etheruem and altcoins miners.

Anyone here can verify if you have bought lost of boards to continue mining despite the worsening market conditions?

At present, there are very few businesses still exploiting. Since the price of bitcoin has dropped to $ 6k5, many businesses have given up on exploiting coins from GPUs. then its price has dropped to $ 3k5, and from now on it has been unable to make any profit. The mining market is now dead and electronics manufacturing businesses are also losing sales quite a lot.

i think you have to ask this question in the altcoin mining board if you want a more focused audience but in my opinion that is a false statistics and since the source of it is not one of the trusted ones i am going with my assumption.
besides nowadays with the price drop in ETH and all the other mineable altcoins nobody is buying new GPUs to mine them. not to mention that with the release of ETH ASIC miners i don't think miners are going to risk investing in new GPU rigs that can be turned into brick!

LOL what do you mean mining is dead? Open hash rates chart and see yourself. Bitcoins hashrate declined for less then 2 months at end of last year. I dont belive is much different with other coins. Hash rate keeps increasing.

I think it would be a good idea to buy their shares once up trend show its power. How do you think, mates? Is it worth doing that?
I think it will be a good investments for those who stay away from crypto, but want to earn on hype

This is not unexpected. All hardware manufacturers got a nice income from crypto mining. And will do so in the future too, although probably not at the increased rate of the past.
Just in this light, how credible you find the news about Bitmain financial troubles?! I still believe they did something fishy there...

Nvidia is a well established company so their business is just about manufacturing, production and selling of their cards to the market. But the amount of demand for the GPU means that there's still profit in mining.

For small miners, it isn't effective for them. And I think those who bought a lot of cards has different purpose, they may use it to mine ethereum and other altcoins for the meanwhile but they can re-sell it or use it if ever mining fells for awhile.

I agree, not unexpected at all.

They invest a lot in hardware and they can move their operations to a location with low cost energy, such as China... Or to a place where the climate is very cold, and there is no need to spend energy in refrigeration.

Probably they mine and sell straight away, so they do not hold and are not exposed to market risk and volatility

Honestly, I didn’t do mining from the very beginning, so now I don’t even begin to start on such a market!

But I think now they are loosing a lot of money because they invested more into mining GPUs but nobody is buying it, so their mining graphics are lying in warehouses.

It is not surprising, because during the last several years, they have earned billions of dollars only by selling their video cards for miners. Unfortunately mining is not more profitable at all and people that have bought these cards cannot sell them right now.