Chip giant Nvidia may restart its product line for Bitcoin and crypto mining machines

According to BlockBeats, on January 19, chip giant NVIDIA may restart its product line for Bitcoin and crypto mining machines.

As the crypto market heat is rekindled, NVIDIA is also considering relaunching products mainly for Bitcoin and cryptocurrency miners. In a recent statement to investors, NVIDIA CFO Colette Kress said: "If demand in the crypto field becomes strong or we see meaningful market demand, we can also use this opportunity to restart the CMP product line to address continued mining needs."

The CMP product line removes the video element, making them ideal for cryptocurrency miners, powerful computers with only one task: verifying cryptocurrency transactions on the blockchain network to earn cryptocurrency. However, they are not compatible with video games, which is a key strategic market for Nvidia. And the tension between crypto mining and video games has also brought legal problems to Nvidia. As previously reported by Ludong, the company has been in litigation with investors who claim that the California-based company underreported its revenue from crypto mining - estimated to be more than $1 billion, in violation of the Securities Exchange Act.

In the second half of 2018, due to the sharp decline in the crypto market, the demand for Nvidia graphics cards in the crypto industry also decreased. Many people believe that Nvidia's stock price fell by more than 50% in the three months from September to December 2018. However, Nvidia CEO Kress did not make any promises. When talking about crypto mining, he said: "We don't think it's an important part of our business today. Gaming demand is very strong, and we think it exceeds our current supply."