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Nvidia Suffers Crypto Revenue Fall After Ethereum’s New Policy

Cryptocurrency Mar 11, 2022 07:30AM ET
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Nvidia Suffers Crypto Revenue Fall After Ethereum’s New Policy

  • Ethereum changes its policy into a proof of stake policy.
  • Nvidia (NASDAQ:NVDA) suffers a cryptocurrencies revenue fall after Eth’s new policy.
  • In other news, for 14 years in a row, each Oscars nominee for Best VFX used Nvidia technologies.

Nvidia suffered a Crypto Revenue fall after Ethereum decided to move into a proof of stake policy. This new policy has been announced for a while now, but no action is taken yet. However, this has been affecting the market ever since the announcement.

The American multinational company Nvidia is still suffering a revenue fall of over 75%. Also, as it is known in the crypto community, Ethereum miners made a lot of money during the last year, as the token’s price reached its all-time highs.

Nvidia’s top-tier gaming GPUs had been widely repurposed to mine Eth, yet after the latest changes, the company is losing many of its crypto profits. Although one might suggest that this is not a fall down.

In recent news, Nvidia celebrated the fact that for 14 years in a row, each Oscars nominee for Best VFX used NVIDIA technologies. The news was delivered in a tweet on Nvidia’s official Twitter (NYSE:TWTR) page.

The 94th Annual Academy Awards are expected to be on Sunday, March 27. The event will have five nominees on the run, including Spider-man: No Way Home, all of which are embracing the latest technologies powered by Nvidia RTX.

On this occasion, Daire Byrne, the Global Head of Systems at the British motion picture, visual effects, and computer animation, and stereo conversion company, DNEG, said:

Every show we get is different from the last, and NVIDIA RTX with vGPU lets us scale the memory and performance characteristics up or down to meet the needs of our artists.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Nvidia Suffers Crypto Revenue Fall After Ethereum’s New Policy
 

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