The image above is of a cryptomining rig
For almost a year, cryptocurrency miners have snapped up all the graphics cards they could get their hands on. That was a financial windfall for Nvidia and AMD, the leading makers of consumer graphics cards. Both reported soaring profits their last two quarters.
But on Thursday, Nvidia reported its financial results for its second fiscal quarter, which ended on July 29. The results were pretty good overall, with strong demands for Nvidia products for AI and data center applications. However, cryptocurrency-related demand has cratered.
Source: Ars Technica
Date: August 20th, 2018
1) Why does cryptomining need video cards?
2) The article does not discuss much why the price of cryptocurrencies like bitcoin and ethereum have been falling. Why have they been falling?