Jensen Huang, CEO of video accelerator manufacturer Nvidia, believes that cryptocurrencies, as well as mining, will remain in the market for a long time.
Nvidia recently began shipping RTX series graphics cards that have a hash rate limit when using cryptocurrency mining devices. However, Huang does not know if the next generations of graphics cards will receive such a limiter:
“I cannot say that I know the future. But there is a reason why we have set the limiter. We want to keep GeForce devices for gamers, and for miners we have created special versions called CMP. This will reduce the deficit and, as a result, the prices for our video cards. ”
That being said, the CEO of Nvidia believes that cryptocurrencies and mining will remain for a long time. In his opinion, digital assets give people a convenient way to exchange funds. Juan stated:
“One can argue whether the cryptocurrencies themselves have value. But no one will argue that they are very convenient for exchange. Ethereum and other distributed cryptocurrencies enable secure transactions. Cryptocurrencies will remain on the market. Maybe Ethereum will slow down a little, but mining will remain. ”
Huang noted that no one knows the future, but he believes that Nvidia’s current strategy of differentiating cards for gamers and devices for miners is correct.
Previously, Nvidia analysts announced results for the first quarter of fiscal year 2022. The report notes that Ethereum’s transition to Proof-of-Stake will significantly reduce demand for the company’s graphics cards.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
