Bad news from Nvidia

[SSend3r]

News from Nvidia - they are out of the game now. Proof - https://www.ccn.com/nvidia-quits-crypto-due-to-low-profit-not-because-of-decline-in-demand/.

[SSend3r]

Guys, what do you think about this? I hope that Samsung will not stop developing their chips for miners, because it can cause an alarm on the cryptocurrency market.

[MP_SI]

Hm ... in gold rush the people selling shovels got rich. Does this mean end of our digital gold rush??? 

[Dzeronimo]

Why is this the bad news for us? Do you think that more mining machines on the market will help us?

[hiroshidw]

Maybe good news, now my used GPU´s have higher value.

[Marvell2]

The important thing to note is bitmains profits for sales divison alone was greater than the entire
Nvidia sales from all units by 50 percent.

This from what I am reading does not even add in thier hidden and semi hidden mining ops.

smh

[vuli1]

ehh, I call it fake news.

[nsummy]

What the fuck is their "Crypto Venture"  The article keeps mentioning it but doesn't say what it is.  For a period of time Nvidia was selling chips specifically to go into mining cards (without display outputs) in order to alleviate that strain miners were putting on the gaming market.  Of course they aren't going to do this anymore;  Buying new hardware to mine is a losing endeavor.

[nsummy]

The important thing to note is bitmains profits for sales divison alone was greater than the entire
Nvidia sales from all units by 50 percent.

This from what I am reading does not even add in thier hidden and semi hidden mining ops.

smh

Not even close.  Nvidia's revenue for last quarter was $3.1 billion.

[Dilerium90]

For me it's really good news. This means much less video cards for mining, which will leave the complexity of mining Ethereum or other crypto currency. And this, in turn, will make it possible earn more for those who already have video cards.

[ARENA-DEV]

The important thing to note is bitmains profits for sales divison alone was greater than the entire
Nvidia sales from all units by 50 percent.

This from what I am reading does not even add in thier hidden and semi hidden mining ops.

smh

Not even close.  Nvidia's revenue for last quarter was $3.1 billion.

Was this in total or for that specific project? They specified that the Crypto Venture generated ~500 million hence the shutdown because Bitmain is a company that is soley focused on Crypto. They cannot compete so they are sticking with what they know.  

[idex100]

They said they are moving out of the mining sphere because of dwindling profit, demand has dropped significantly as mining profits fell

[idex100]

Why is this the bad news for us? Do you think that more mining machines on the market will help us?

The problem is not really the scarcity of mining cards but mining itself, this is of no consequence if mining were ok. more persons will start mining and difficulty will increase and everything is back to the usual state. There are already enough gpu cards for mining

[butka]

I have real problems to understand the post you refer to. For example, what does this mean in the linked article:

Jensen Huang, the CEO at Nvidia, echoed the negative sentiment of Kress, adding that the profitability of its cryptocurrency-focused mining chips has declined substantially, as the price of cryptocurrencies moved to a downward trend....

...the profitability of Nvidia’s cryptocurrency venture

What kind of crypto related venture Nvidia took part in? And what kind of mining chips are they talking about? I didn't know they had plans to enter the ASIC arena, or did they? On the other hand, the GPU's are made for their primary target: the gaming community. The fact that they are being used in mining is just a side effect of their availability.

[Metroid]

What kind of crypto related venture Nvidia took part in?

Well to quit something they should have got into crypto, so nvidia never quit crypto because they never got into it besides the p102-p04 mining cards which 99% of miners never got to try them hehe, p102 and p104 were totally centralized mining cards, only huge farms got them, so if that is the case I'm glad nvidia quit it hehe, its a favor they did for the decentralized mining community as a whole.

[fanatic26_]

This news literally means nothing. The mining cards were near impossible to get and had dogshit warranties. As someone who mined with 10k plus graphics cards I never even entertained the thought of buying the mining specific versions.

[ogabonny]

Not really devastating as mining is not as profitable as it used to be and a lot of miners are even considering their GPU cards at some good price.

[nsummy]

The important thing to note is bitmains profits for sales divison alone was greater than the entire
Nvidia sales from all units by 50 percent.

This from what I am reading does not even add in thier hidden and semi hidden mining ops.

smh

Not even close.  Nvidia's revenue for last quarter was $3.1 billion.

Was this in total or for that specific project? They specified that the Crypto Venture generated ~500 million hence the shutdown because Bitmain is a company that is soley focused on Crypto. They cannot compete so they are sticking with what they know.  

What on earth are you talking about?  That was total. There is no shutdown.  Nvidia is still making graphics cards and gpus are still being used for mining.  There currently is no extreme demand for graphics cards from miners so they do not anticipate any extra revenue from miners.    Bitmain is a private company so any profits of theirs is purely speculation.

[P00P135]

All this means is we wont see those dumb mining GPU's without display ports.... so who cares.

[Metroid]

All this means is we wont see those dumb mining GPU's without display ports.... so who cares.

which is actually a good thing, now manufactures have no reason to reduce warranty time. well they might create bullshit around just to reduce it. they have nothing that can prove if a gpu was mining or used for gaming.