Towards the end of 2017 the value of almost all the cryptocurrencies went up. Many touched its all time high during december. It was during that time when crypto mining became very popular. Many people started using GPUs to mine crypto currencies like Ethereum , Monero etc and as a result demand for GPU cards too increased.
The chip producer has seen GPU demand rise over the last year, largely due to cryptocurrency miners. Nvidia CEO Jen-Hsun Huang said in March that the company needed to ramp up its production to ensure that both miners and gamers had sufficient graphics cards.
But now Nvidia is reporting a “substantial decline” in revenue as a result of declining sales to cryptocurrency miners .In an announcement of its second quarter earnings Thursday afternoon, the graphics card maker’s CFO, Colette Kress, stated that while “GPU business revenue was $2.66 billion, up 40 percent from a year earlier,” it was “down 4 percent sequentially.”