October 1, 2022

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NVIDIA says graphics card mining is outdated

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NVIDIA says graphics card mining is outdated: graphics card prices have to drop



NVIDIA says graphics card mining is outdated: graphics card prices have to drop

Recently, the algorithm that restricts mining of RTX 30 series LHR graphics cards has been completely cracked. It can be seen as a game between miners and graphics card mining.

After all, the recent changes in the situation are not good for them, but NVIDIA’s attitude towards mining has also changed. Acknowledging that mining is outdated, graphics card prices will continue to drop.

NVIDIA today released its Q1 financial report for fiscal year 2023, with revenue of $8.29 billion, a year-on-year increase of 46%, setting a company record.

However, the profit for the quarter was US$1.62 billion, down 15% year-on-year and 46% month-on-month.

The revenue of NVIDIA’s two core businesses, games and data centers, is still soaring.

At least the sales of graphics cards seem to be fine.

Everyone is still snapping up, but the decline in prices has affected profits.

Another point is that NVIDIA’s own CMP dedicated mining card, in this quarter, revenue of 158 million US dollars, down 18% month-on-month, down 51% year-on-year, the contribution to NVIDIA is almost negligible.

At this earnings conference, NVIDIA CFO Colette Kress also talked about her views on graphics card mining, believing that the current computing power of Ethereum mining is almost stagnant, graphics card mining has become obsolete, and this trend will continue in the future. displayed more strongly.

Graphics cards still have to return to the normal game market.

Colette Kress said that the inventory in the Q1 fiscal quarter is almost normal, and the next Q2 fiscal quarter will be similar.

The supply of graphics cards is not a problem, and the price will continue to decline.



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