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Cryptocurrency mining bubble
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It all came to a screeching halt in the second quarter, though. Softening crypto asset pricing was an outsized reason why, but the emergence of specialized chips for mining -- Chinese start-up Bitmain being just one maker of them -- was also inevitably going to take a bite out of the bloated segment. However, management is pulling the bandage off fast to wean investors off of thinking about the business segment. It was never a primary business line in the first place.
With cryptocurrency numbers now out of the way, NVIDIA gets to redirect attention toward its more sustainable growth initiatives, including AI, data centers, autonomous autos, and next-generation graphics processing using ray tracing technology -- a light rendering technique that makes cinematic-quality gaming experiences possible. Thus, while NVIDIA implied it would still do some work in the digital currency space, the company just stuck a proverbial pin in the digital mining bubble.
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At one point, he said Tesla would accept Bitcoin as a method of payment before cancelling the plans. The FTSE was down 2. As more and more people had access to computers and the internet in the late s, there was a flurry of speculative trading in tech companies. But after the US Federal Reserve increased interest rates, trading dipped and caused the bubble to burst, sending stock prices crashing.
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Mining bubble cryptocurrency free betting lines
The Bitcoin Bubble Pop, Bitcoin Mining Unprofitable And Why Bitcoin?AdTD Ameritrade Investor Education Offers Immersive Curriculum, Videos, and More. Aug 23, · Turning over a new leaf. To be fair, NVIDIA has been warning that its boost from cryptocurrency mining was not sustainable. During the first-quarter earnings call, Kress said . Visualize cryptocurrencies like Bitcoin or Ether on Crypto Bubbles in an interactive bubble chart. Detect trends or get an overview of the cryptocurrency market Detect trends or get an .
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