AMD and Nvidia’s mining chip losses will last longer than expected

Mitch Steves, an analyst at Russian news site RBC, released a report showing that high-quality crypto mining GPUs were still profitable as of last quarter, but are no longer profitable. Cryptocurrencies including Bitcoin and Ethereum are at their lowest levels in more than a year. Chipmakers such as AMD and Nvidia have warned investors of possible headwinds following the crypto boom and its collapse. RBC said that the oversupply (loss) of cryptocurrency mining chips from AMD and Nvidia will last longer than expected. (BusinessInsider)