Tech

Our Work Is Over With Crypto Money Mining

Nvidia, who described the second quarter reports, pointed out the revenue decline in crypto money mining products, citing the fact that the business with crypto money mining is over and will never come back.

Nvidia, one of the first companies to come to mind when it comes to graphics cards, explained the company's second quarter report.

According to Nvidia's report, the company reported that in the second quarter of the year, the company had $ 3.12 billion in revenues, while Nvidia said it expects to earn $ 100 million in revenue in the second quarter of its crypto money mining products. while earning $ 1.94 billion in earnings. Wall Street analysts' forecasts for Nvidia's second-quarter revenues were $ 3.11 billion in revenue and $ 1.85 billion in equity earnings.

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Nvidia shares closed Thursday with a 2% increase. Nvidia's share of the increase since the beginning of this year is 25%. Nonetheless, Nvidia lowered its revenue estimates for the third quarter to $ 3.25 billion from $ 3.34 billion. Nvidia has a share of crypto money mining products in this estimate discount.

Source:
                    https://markets.businessinsider.com/currencies/news/nvidia-stock-price-crypto-business-dead-not-coming-back-2018-8-1027467378