Colette Kress, CFO of Nvidia, the world’s largest graphics card manufacturer, talked about the effects of the falling cryptocurrency market and the spread of the Proof of Stake system on the company’s balance sheet.
Colette Kress Nvidia second quarter of 2022 In the statements made about the period after the announcement of their financial reports, they also stated that they could not predict the decline in the mining sector. Proof of Stake part of the demand completely He said they lost.
Nvidia’s revenues according to the announced financial reports 19% in decline 6.5 billion dollars, net income 59% down 656 fell to millions of dollars.
Latest graphics cards used for crypto mining 5 Nvidia’s share price per year 320%Although it is known to add . that they could not measure expressed. Still, the CFO does not need the processing capability of graphics cards. Proof of Stake the widespread use of the system in the crypto money sector, the demand for graphics cards that you dropped he accepted.