Recently, Nvidia CEO Jensen Hua announced that their largest manufacturer of video cards and graphics processors Nvidia closes its crypto division and the profitability of the mining facilities from the company has significantly decreased, as the price of the cryptocurrency is in a downward trend.
The main problem with Nvidia’s support for the crypto section is that demand for the GPU has declined. There are only a few tokens and cryptocurrencies that miners can extract using graphic processors.
The ASIC settings for mining, designed specifically for the Crypto Exchange sector, is more efficient and very popular among the miners. Now few people rely on GPUs that are not designed to calculate crypto data.
Also, the profitability of Nvidia’s cash management unit could have been influenced not by the decline in demand for digital assets and the fall in their prices, but rather by a decrease in the interest of miners with respect to graphics processors and graphics cards as criminological mining tools, as they are less effective compared to ASIC settings.