Nvidia kicks crypto to the curb: ‘doesn’t bring anything useful for society. AI does’

Nvidia has both been the benefactor and victim of cryptocurrencies’ boom/bust cycle. When crypto was soaring in value, so was Nvidia’s share price. When crypto crashed, often Nvidia’s share price dropped with it. The company makes a product that was, for a long while, crucial to the operation of most of the world’s largest cryptocurrencies outside of bitcoin, and that’s been both a blessing and a curse.

Nvidia and crypto is a love/hate relationship. When the going was good, Nvidia would happily create entire product lines for the sole purpose of running algorithms to ‘mine’ cryptocurrency, known as CMP or Cryptocurrency Mining Processor (opens in new tab). However, when crypto crashed, which it has a tendency to do, Nvidia would often be lumped with excess inventory (opens in new tab) of graphics cards and finding new ways to sell them.