Sell graphics cards directly to cryptocurrency miners, while not realizing that cryptocurrency miners were the ones buying your GPUs? Sounds about right.
I’m so fucking sick and tired of the (((usury))) and other corporate spiel that companies shit out in times of strife or as we’ve seen of late, woeful quarterly results.
That sure as shit hasn’t changed with NVIDIA posting their Q2 report which like every other company on the fact of the earth (almost), have shown drastic downtrends not just in comparison to the previous quarter but also year-over-year.
For the sectors that really matter, for us anyways would be NVIDIA’s gaming sector which covers GeForce products exclusively, NVIDIA’s revenue of GeForce GPUs has fallen drastically, to the sum of 44% compared to the previous quarter.
Compared to year-over-year results, the revenue this quarter is down by 33%. While that’s a very scary thought for the kikes who invest in NVDA shares I wouldn’t worry too much.
Considering NVIDIA still manages to walk away with $2.04 Billion dollars in revenue from GeForce products alone.
While other sectors such as QUADRO and or “Data Center” products, NVIDIA’s revenue for this quarter has been propelled, to the sum of $3.81 Billion dollars, up 61% year-over-year and a marginal increase compared to the previous quarter of just a single percentage.
Overall however, NVIDIA’s entire revenue for this quarter works out to be $6.7 Billion dollars, down 19% compared to the previous quarter but overall still 3% higher than this time last year, with net income dropping by 72% from a year ago and down 59% from the previous quarterly results.
Obviously, such woeful results, particularly from the GeForce camp isn’t much of a surprise, considering how many the company was banking on illicit back alley dealings of RTX 3000 series components to cryptocurrency miners, since then Ethereum mining has essentially imploded with lots of mining farms being picked apart with their equipment sold off.
Crypto prices have tumbled, plenty of GPUs are heading on the second hand market all while retail pricing for new GPUs have dropped considerably, with the next generation of graphics cards just around the corner simply put nobody is really looking to buy brand new hardware at this point in time.
Let alone the “merge” of Ethereum as the world’s largest ponzi scheme transitions from proof-of-work to a proof-of-stake design next month, of which cryptocurrency mining will essentially be considered a write off for this market cycle at least, lots of folks have already started transitioning away from mining ETH in favor of other coins such as RVN or Ethereum Classic but obviously once ETH pulls the plug the house of cards will eventually topple over.
With next-gen awaiting us literally weeks away, and a severe influx of second hand GPUs bound for second hand markets, it’s fair to say that the GPU market is about to implode, at least for manufacturers such as NVIDIA, AMD and most certainly Intel once of course they stop suckling their thumbs and release their ARC Alchemist turds onto the ACTUAL market, and not China.
Mining is just about dead and has taken the GPU market with it, thank god for that. However, NVIDIA’s CFO, Collette Kress had to open her fat mouth in a desperate attempt to downplay the effects of cryptocurrency mining on the market and NVIDIA’s woeful quarterly figures.
Our GPUs are capable of cryptocurrency mining, though we have limited visibility into how much this impacts our overall GPU demand.
Volatility in the cryptocurrency market – such as declines in cryptocurrency prices or changes in method of verifying transactions, including proof of work or proof of stake – has in the past impacted, and can in the future impact, demand for our products and our ability to accurately estimate it.
As noted last quarter, we had expected cryptocurrency mining to make a diminishing contribution to Gaming demand. We are unable to accurately quantify the extent to which reduced cryptocurrency mining contributed to the decline in Gaming demand.
Absolute PR bullshit, NVIDIA banked heavily on catering towards cryptocurrency miners, with Ethereum fangays hyping up the illusive transition to a PoS design for ages already, considering how the entirety of the cryptocurrency market landscape has surged since Ethereum mining became very profitable, it was quite obvious that the decline in pricing alongside mining in general would wipe out graphics card markets just as Bitcoin had done so back in 2014.
Corporations love to pretend to be blind and or ignorant of “unforeseen” matters that has been staring them in the eyes for months on end, they love to blame external factors such as inflation, COVID or whatever else for declines in sales while of course they use it as an opportunity to hike prices up amidst a downtrend in the market and therefore sales.
The next generation of graphics cards from both AMD and NVIDIA are set to be the largest generation leap in terms of performance that consumers have ever seen before, and of course the pricing is going to reflect on that, with rumored performance figures set to increase by ~100% over the current generation it makes perfect sense that both companies will undoubtedly be hiking prices up across their entire lineup to make up for this, simply because the performance is indicative to what they can charge.
Not that this actually matters to those who’ve written off video games (like myself) over the last several years, nothing but rushed garbage pushing political woke bullshit has made it to the PC anyway, so there’s no general need to even consider the thought of upgrading.
If however you’re running vastly outdated hardware, there’s still hope yet, take advantage of the Ethereum 2.0 merge amongst the chaos of used (and abused) GPUs flooding local listings and online storefronts.
Consider purchasing something cheap and inexpensive among the likes of an RX 6600 XT as prices for them will undoubtedly crumble as the next generation of hardware is released, but of course you can take the risk to save perhaps hundreds of dollars if you’re both desperate and cheap.
If that’s how you wish to roll you can perhaps snag yourself a used graphics card such as the RTX 2060 / Super, or even the vastly superior RX 5700 / XT, with ETH mining being rug pulled I’m predicting that these sorts of GPUs will flood markets for next to nothing considering how they’re absolutely outdated in terms of gaming performance but also cryptocurrency mining.