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HomeCryptocurrency NewsThe drop in demand for mining video cards caused problems for Nvidia

The drop in demand for mining video cards caused problems for Nvidia

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After the rapid growth in 2017, the cryptocurrency market is in decline. This process not only affected the investment in digital currencies but also seriously affected other industries. One of them is the video card industry, which last year was pleased with the increased demand.

Speaking at the Computex 2018 conference that took place recently in China, the head of Nvidia, Huang Renxun, announced that the company will not release new models of video cards “for a long time.”

This decision is caused by a decrease in demand. First of all, we are talking about the family GeForce 10 Series, popular with miners and gamers. Moreover, it is reported that one of the Asian partners Nvidia returned the company 300 000 video cards.

Because of all this, Nvidia faced difficulties in inventorying products. It will not launch a new line until it sells out the stock of video cards, some of which were produced two years ago.

Against the backdrop of the booming in 2017, the family of GeForce 10 Series video cards has gained immense popularity, primarily among the Ethereum miners and other altcoins. As a result, gamers are faced with a lack of these components. In addition, many dealers, using the excitement, inflated prices.

Representatives of the company believe that the decline in mining and the reduction in prices for video cards will become visible after the third quarter of 2018. So, Colette Kress, executive vice president and chief financial officer of Nvidia, says:

Demand in the cryptocurrency market surpassed our expectations. In the current quarter, we have earned sales of equipment for mining more than in the past … The first place for us remains the main audience [gamers] because the cryptocurrency is likely to remain volatile.

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