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Bitcoin and Nvidia: From "Mining Boom Ties" to "Weak Connection in the AI Era," Has Future Investment Logic Changed?تابع ➕ أعجبني وأرسل Follow ➕ like and forward
Once upon a time, the Bitcoin mining boom made Nvidia's GPUs the "hard currency" of the mining community. Now, with the AI revolution pushing Nvidia's market value to over $5 trillion, the relationship between the two is no longer simply one of "shared glory." Clarifying Bitcoin's impact on Nvidia's future investments and development hinges on understanding the weakening of "historical ties" and the potential space for "new connections."
Looking back, Bitcoin's impact on Nvidia can be described as a "double-edged sword." The two rounds of explosive price increases in 2017 and 2020-2021 led to a surge in demand for GPU mining, causing the price of Nvidia's RTX 30 series graphics cards to double. In 2021, sales of mining-related chips accounted for a quarter of its quarterly shipments, with CMP mining-specific chips generating sales of $155 million in a single quarter. However, behind the frenzy lies significant risk: the Ethereum merger in 2022 marked the end of the GPU mining era, combined with global mining farm exit policies, Nvidia's revenue fell by 17% year-on-year, and net profit plummeted by 72%, with stock prices nearly halving. Worse still, the volatility in the mining business not only sparked dissatisfaction among gamers but also led to Nvidia being fined $5.5 million by the SEC for improper information disclosure, prompting it to decisively "distance itself from crypto mining."
Looking back, Bitcoin's impact on Nvidia can be described as a "double-edged sword." The two rounds of explosive price increases in 2017 and 2020-2021 led to a surge in demand for GPU mining, causing the price of Nvidia's RTX 30 series graphics cards to double. In 2021, sales of mining-related chips accounted for a quarter of its quarterly shipments, with CMP mining-specific chips generating sales of $155 million in a single quarter. However, behind the frenzy lies significant risk: the Ethereum merger in 2022 marked the end of the GPU mining era, combined with global mining farm exit policies, Nvidia's revenue fell by 17% year-on-year, and net profit plummeted by 72%, with stock prices nearly halving. Worse still, the volatility in the mining business not only sparked dissatisfaction among gamers but also led to Nvidia being fined $5.5 million by the SEC for improper information disclosure, prompting it to decisively "distance itself from crypto mining."
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