이 기사 공유하기
Cryptocurrency Mining Sales Cool in Q3, Says Nvidia
Nvidia said that it will remain "nimble" in its approach to the cryptocurrency market, even as it reports a decline in revenue for related products.
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.
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.
STORY CONTINUES BELOW
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.
광고
Huang added:
"For some time, we’re going to see that crypto will be a small, but not zero, part of our business."
The CEO went on to remark that demand for its products from miners "ebbs and flows" with the fortunes of the market. Huang previously declared that "cryptocurrencies and blockchain are here to stay," stating back in August that the company saw long-term prospects around the tech.
Nvidia image via Shutterstock
Meer voor jou
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
Wat u moet weten:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
