On the eve of Ethereum’s transition to the «green» blockchain, Nvidia’s revenues from the sale of video cards fell

Colette Kress, CEO of the American graphics card company Nvidia, has announced the company’s financial income for the last three months. Compared to the previous quarter, the tech giant started earning 19% less, with a profit of $ 6.5 billion. The company’s net income decreased by 59% and now stands at 656 million. According to similar time estimates, the income of the gaming division, which includes the sale of high-quality graphics processors, fell by 44%. Nvidia explains this by «challenging market conditions».

Kress emphasizes that Nvidia cannot influence how the cryptocurrency market creates demand for its gaming products: «Our GPUs are capable of mining cryptocurrency, although we have no information on whether customers are interested in buying them. Also, we cannot accurately assess how the decline in cryptocurrency mining affects the decline in demand for games.»

The Nvidia director added that the drop in cryptocurrency prices and changes in PoW have had a significant impact on the company’s sales in the past. Market experts suggest that due to the Ethereum merger scheduled for September 15, the consensus change of the network to PoS may further reduce the demand for cryptocurrency mining equipment, which in turn may lead to a decline in demand for Nvidia products.