Nvidia announces cessation of cryptocurrency business

According to CCN, Nvidia's Chief Financial Officer Colette Kress announced the official termination of its cryptocurrency business. Kress said, "We believe we have reached a normal period, and we look forward to basically no cryptocurrency in the process of moving forward. Our revenue expectation is that cryptocurrency-specific products will bring about $100 million in revenue this quarter, but the actual revenue is $18 million, and we now expect future contributions to be negligible." Nvidia's CEO Jensen Huang agreed with Kress's negative sentiment, adding that as the price of cryptocurrencies has declined, the profitability of its cryptocurrency-based mining chips has dropped significantly.