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Nvidia’s shares division failed to impress investors amid major cryptocurrency rout
The share of leading inexpensive maker Nvidia fell more than 2.5% in today’s trading session.
The cryptocurrency rout may have contributed to the most recent decline as the company’s business is once again exposed to the level of demand for GPU mining, Barron reports.
The fall in cryptocurrency prices even eclipsed the company’s four-for-one stock split that was originally announced in late May.
Players, rejoice!
Earlier this year, Nvidia decided to nerf several of its high-end cards in order to address the shortages caused by minors and appease gamers.
As reported by U.Today, the company released a mining processor for Ethereum in February. However, it hasn’t done much to keep GPUs reasonably priced, as cryptocurrencies and mining profitability soared in the first half of the year.
The massive crypto crash apparently solved the problem. Due to waning interest in ether and other battered cryptocurrencies, the mining-induced GPU crisis is seemingly over.
Earlier today, ETH plunged to $ 1,706, its lowest level since June 22.
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