Cryptocurrency News

Is This The Right Time For You To Buy The Mining Hardware?

On this weekend, the largest mining tech developer ‘Nvidia’  stated and official large drop of its GPU sales oftenly employed on a large scale for the crypto mining process even in the second quarter of this year. Nvidia originally anticipated “cryptocurrency-specific product revenue” reaching $100 Mln throughout this year but evenutally it came around at a mere of $18 Mln only. The chief financial officer of the company ‘Colette Kress in an interview stated:

“Nvidia raked in $289 million from “crypto-specific GPUs.” Going forward, the company currently expects a “negligible contribution” in graphics cards sales to the mining market and will not embrace them in future monetary forecasts.”

Stating further, the CEO of the company ‘Jensen Huang’ said:

“In the starting of the year, we forecasted a thought that crypto mining would projected a bigger contribution through this year too. But at nowwe are not expecting much hopes.”

According to Huang, the company began noticing rise on GPU sales in the last year’s third quarter due to the rise of the bitcoin around $20,000 USD but at this current time of market instability following since this year, all the profits are seen to be waving unexpectedly.

However, this time may be un desired by the GPU manufactures but a fair profit can be made while investing today, for the upcoming future as the price of the mining hardwares are down to almost halves than they were few months back this year.

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