Nvidia Expects to Finish Selling Leftover Inventory From Crypto Bear Market by Q1 2019

Major global chip maker Nvidia expects to complete sales of remaining inventory built up in expectation of crypto mining demand, according to a Bloomberg report on March 19. The company is now working on selling the crypto-oriented inventory that remained unsold as the crypto bear market continues. The firm predicted that it would be able to sell the excess inventory by the end of the current quarter. After Nvidia saw massive market growth amidst increased demand for crypto mining hardware from 2016 to 2018, the firm was hit hard by…

Nvidia Reports Full-Year Revenue Increases But Q4 Losses After Cryptocurrency ‘Hangover’

United States gaming and computer hardware manufacturer Nvidia has reported full-year revenue gains, the company confirmed in a press release about its Q4 earnings published on Feb. 14. Nvidia, which was one of the companies worst hit by the cryptocurrency market downturn and associated lack of demand of mining components, said its total 2018 revenue climbed 21 percent from 2017 numbers to $11.72 billion. The growth was driven by all-time high sales of its gaming, datacenter, professional visualization and automotive products. Nvidia’s shares jumped 8 percent this week on the…

Analyst Finds Nvidia Earned $1.35 Billion More in Total Crypto Revenue Than Stated

Taiwan-based computer hardware producer Nvidia reportedly earned nearly $1.35 billion more due to crypto and blockchain than it had stated. The numbers were calculated by RBC Capital Markets analyst Mitch Steves, financial news website Market Insider reports on Jan. 31. Steves reportedly said in a note released on Jan. 30 that that according to his calculations, Nvidia generated about $1.95 billion in total revenue related to cryptocurrency and blockchain, noting that the official company’s statement said that it generated around $602 million over the same time period. His calculations reportedly…

Nvidia Decreases Q4 Revenue Estimates Citing Crypto Mining Decline, Conditions in China

Taiwan-based computer hardware producer Nvidia updated its financial estimates for Q4 for the fiscal year of 2019, according to a press release on Jan. 28. The company is reflecting weaker forecasted sales in its gaming and data center platforms, which comes from excess mid-range channel inventory following the slump in cryptocurrency markets. Q4 revenue is expected to be at $ 2.20 billion, opposed to the previous projection of $2.70 billion according to a statement released by Nvidia on Jan 28. The cryptocurrency mining frenzy drove up demand for Nvidia’s graphics…

Nvidia Faces Class Action Lawsuit Over Losses After Diminished Mining GPU Demand

Graphics processing unit (GPU) producer Nvidia is facing a class action lawsuit over the losses reported by the company when lower crypto prices diminished demand for GPUs by miners. Schall law firm announced the lawsuit on Dec. 24. The complaint states that “the Company made false and misleading statements to the market.” Namely, according to the announcement, Nvidia “touted its ability to monitor the cryptocurrency market and make rapid changes to its business as necessary.” Shall states that the GPU producer also declared: “Any drop off in demand for its…

Following Crypto Mining Crash, GPU Producer Nvidia Worst Performer in S&P 500

The drastic decrease in crypto mining profitability has hit graphics processing unit (GPU) producers like Taiwan-based Nvidia hard. In Q4 2018, the firm experienced a massive sell-off of its shares, cutting the stock price by 54 percent and making it the worst performer in the S&P 500, CNBC reports on Dec. 21. From 2016 to September 2018, Nvidia’s market value markedly increased from $14 billion to $175 billion as demand for its GPUs in artificial intelligence (AI) and cryptocurrency mining grew. In May, the firm reported its profits from crypto…

Nvidia Q3 Earnings Report Reveals ‘Crypto Hangover’

Nvidia Q3 Earnings Report Reveals ‘Crypto Hangover’ November 17, 2018 by Akshay Makadiya Powerhouse chip maker Nvidia just released its third-quarter financial figures, reporting a decline in revenue amid waning demand for its graphics processing units (GPUs) from crypto miners. The downturn in crypto mining left Nvidia with unsold GPUs, negatively impacting its fiscal 2019 third-quarter revenues. Also read: Fork Wars: 66% of Bitcoin Cash Miners Now Backing Satoshi Vision Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Nvidia Shares Nosedive With Crypto Hangover The Santa Clara,…

Nvidia Q3 Results Reveal ‘Crypto Hangover’ Due to Disappearance of Miner Sales

Nvidia released its earnings report for the third quarter (Q3) of 2018 today, Nov. 15, revealing that demand for Nvidia’s graphics processing units (GPUs) among crypto miners has dried up. In the financial results report, founder and CEO of Nvidia Jensen Huang said that the company’s “near-term results reflect excess channel inventory post the cryptocurrency boom, which will be corrected.” Put differently, the cryptocurrency frenzy drove up prices for Nvidia’s gaming cards, but once that demand disappeared, prices did not decrease quickly enough to attract customers who were waiting for…

Nvidia to See Q3 Strong Earnings, Crypto-Related GPU Sales Remain in Downtrend

Experts from analytical firm Trefis have forecasted increased sales of Nvidia’s graphics processing units (GPUs) at the end of the third quarter (Q3) of this year, Forbes reported Nov. 13. Trefis notes that, while overall GPU sales will be up, sales from cryptocurrency-related activities will remain in a downtrend. American GPU manufacturer Nvidia is purportedly set to release its Q3 results on Nov. 15, and Trefis experts have predicted an earnings growth by slightly over 20 percent on a year-on-year basis. Revenues will primarily be driven by Nvidia’s gaming GPUs,…

Report: Bitcoin is Less Volatile Than Amazon, Netflix, and Nvidia

Historically, cryptocurrencies like Bitcoin have been criticized for their volatility, a trait which is often cited as a hurdle for crypto adoption in terms of real-world usage and increased interest from institutional investors. But according to new data, the No. 1 digital currency by market cap is actually less volatile than some of the largest and most popular stocks on Wall Street. Bitcoin’s HV Much Lower Than in Early-2018  The data comes from CBOE Global Markets, which focused on the 20-day historical volatility (HV) of Bitcoin, a number which has…