The cryptocurrency market is weak and the price of mining GPUs is falling

According to Digi Times, due to the recent weakness in the virtual currency market, the prices of graphics cards used in mining machines have continued to decline.

According to information from the upper levels of the supply chain, the price of ASIC mining hardware has dropped by 20% in July. Companies affected by this price drop include Taiwan TSMC, Creative Electronics, etc.

According to Digitimes, the graphics card inventory in the global market is in the millions. NVIDIA in the United States is preparing to ship 1 million units. In addition, the release of the next-generation GPU has been postponed to the fourth quarter of this year.

In May, NVIDIA announced that its processor sales in the first quarter were $289 million. As the market adjusts, it expects sales in the second quarter to drop to two-thirds. Bit Main, a Chinese ASIC manufacturer, said in May that it was considering shifting its focus to AI due to the strengthening of China's virtual currency regulation.