Nvidia shares fell on the market
The fall in the sale of miners for cryptocurrencies caused the company to lose at least one billion dollars
After the decline in the purchase of cryptocurrency miners, the company Nvidia Corporation announced to its investors that their shares suffered a fall in the market.
As indicated in its quarterly report, the company has about a billion less in total profits received, according to the projections it had prepared.
This is largely due to the loss of interest in the demand for mining hardware equipment. The prices of Nvidia shares fell to 15%, reaching an approximate US $ 170 per share.
The founder and CEO of the company, Jensen Huang, said that these results are a demonstration of the excess inventory they prepared after the “boom” of cryptocurrencies.
“The hangover from cryptocurrencies has lasted longer than we expected. We believe we should do a better job managing the dynamics of cryptocurrencies”, said the expert.
Notably, the company stopped selling several models of its mid-range computing chips, mainly because they were only serving to fill store stores.
K. Tovar
Source: Nvidia
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