Nvidia recently announced its desire to remain in the cryptocurrency market, despite reports of a decline in the company's revenue this quarter. The company published information about its earnings for the third quarter of 2017 on November 9th.
Among the data we are interested in is revenue from products related to cryptocurrency mining amounted to $70 million, which is $80 million less than in the second quarter.
Nvidia suggests that this is due to the recent depreciation of Bitcoin. According to Chief Financial Officer Collette Kraes, the cryptocurrency market is “highly volatile and subject to changes in demand.” Nvidia’s main activity remains the gaming market, so a decrease in income in the cryptocurrency market will not affect the company’s course in any way.
Nvidia co-founder and president Huang Zhenxun noted that sales of graphics chips are growing along with the growing popularity of mining.
Huang added: “The cryptocurrency market will remain a small – yet very significant – part of our business for some time.”
The president also said that miners' demand for their products "fade on and off" depending on the price of Bitcoin. Previously, he stated that “cryptocurrencies and blockchain are a very promising direction” and that “the company saw long-term prospects in this industry.”
According to https://www.coindesk.com
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