Home / Others / Bitcoin [BTC] and other decline in cryptocurrency mines hit the market; AMD reports a 22% loss – AMBCrypto

Bitcoin [BTC] and other decline in cryptocurrency mines hit the market; AMD reports a 22% loss – AMBCrypto

Recently, Advanced Micro Devices [AMD], announced its fourth quarter reports, which showed a decline of 22% after the decrease in interest from the cryptocurrency mining community.

Cryptocurrencies like Bitcoin [BTC] they require a computing power, which is provided by the graphic processing unit [GPU] of chipsets. Chip makers like AMD and NVIDIA were basking in the cryptocurrency boom of late 2017 when Bitcoin broke the $ 19,000 mark.

The Kinngai Chan Summit Insights Group analyst said:

"The lack was due to the GPU, AMD had too high exposure to the crypto-currency market, and they do not have a competitive line-up in the PC gaming market."

In a previous report on the second quarter analysis, AMD had stated that the decline in chip sales was due to miners actually a positive sign.

Lisa Su, CEO of AMD, had previously predicted that sales would fall with subsequent quarters and this time it was reflected. After the latest version of the company, the CEO stated:

"In the graphics, the decline in revenues on an annual basis was mainly driven by significantly lower channel GPU sales, partially offset by better sales of OEM and data center GPUs."

AMD and NVIDIA have also been hit by the release of cheaper and faster processor applications such as Honeyminer, an exporter for mining cryptocurrent enthusiasts.

AMD speculates that the reason for the two-digit decline in sales is due to the roller coaster ride in the United States. Bitcoin [BTC], the largest cryptocurrency in terms of market capitalization, has always been in the spotlight when it comes to commercial regulations and restrictions proposed by financial watchdogs such as the Securities and Exchange Commission [SEC].

The SEC also waited to exceed the Bitcoin ETFs, which again generated a kind of backlash in the Bitcoin market and in the entire cryptocurrency market as a whole.

Just recently, Kara Stein, the SEC Commissioner, spoke about the Bitcoin ETF and said:

"The nature of the goods, the OC price sources and access to individual investors are some of the points that caused an incident, so that something like Bitcoin's ETF can be implemented, it must comply with some basic guidelines. "

Some of the guidelines mentioned by the SEC official concerned features such as accurate assessments, ensuring physical custody and providing liquidity to investors so that they can withdraw assets at any time.


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