CRYPTOCURRENCIES

The company is in good health, but once the fever due to cryptocurrencies and mining has ended, the Nvidia account has been reduced by 270 million.

The cryptocurrencies are in free fall. And the truth is that not only is the value of the digital currencies themselves falling, but also the business that had been set up around them. Bitcoins and other currencies have not been profitable for some time now, but during the crypto fever the truth is that there was an unprecedented upswing in GPU sales, so that in some countries it was almost impossible to buy graphics according to what times, also shooting its price.

In this sense, the main beneficiaries were undoubtedly the graphics companies and GPUs, including Nvidia at the head. Now things have changed, mining is not profitable, at least not at the user level, and cryptocurrencies are in free fall without predicting a good future. And the North American manufacturer is paying the bill for this deceleration, so much so that Nvidia has informed its investors of a "substantial decrease" in revenues as a result of the decrease in sales to cryptocurrency miners and the cooling of the cryptocurrency market.

The specific products of cryptocurrencies decreased to approximately $ 100 million, while revenues from cryptocurrency products were $ 18 million. Considering that we had previously anticipated that cryptocurrencies would be significant for the year, now we do not project revenues [from this market] in the future. "

According to the data provided by the company itself, and to put a bit in context the size of the market crash of cryptocurrencies, since the first quarter of the year, which includes part of the cryptocurrency boom, the figures have fallen by 270 million of dollars, from 289 million at the beginning of the period to just over 18 million in the last report, all in the division of products focused on mining and cryptocurrencies.

Things therefore become complicated with the cripto division that Nvidia, but in general terms the company is in very good health. Its videogame, virtualization or professional market divisions continue to provide solid figures, and the smart car market can be their next frontier. Be that as it may, it seems that it's time to wake up from the dream of cryptocurrencies.