HomeTechnology'Nothing Useful For Society': Nvidia Doesn't Want To Hear About Cryptocurrency Anymore

‘Nothing Useful For Society’: Nvidia Doesn’t Want To Hear About Cryptocurrency Anymore

Cryptocurrencies “do not contribute anything useful to society,” the group’s CTO decided. Nevertheless, the Nvidia team is popular with miners.

Between Nvidia and cryptos, it’s obviously the end of a story. Valued for the performance of its products, the company no longer wants to hear about mining. Cryptocurrencies “do not add anything useful to society,” Michael Kagan, the group’s chief technology officer, explained to guardian.

The company greatly prefers the development of artificial intelligence, which also requires a lot of computing power. For cryptocurrencies, the mining principle always involves more calculations, especially for the more powerful cryptocurrencies, such as Bitcoin.

Kagan, who had founded a company, Mellanox, which was bought by Nvidia, also likens this to high-frequency trading where every “nanosecond” becomes a gamble. “You know, people do crazy things, but they buy your stuff, you sell them stuff,” he yells.

Actually, Nvidia has never been a big fan of cryptocurrencies. In 2021, the company known for its graphics cards for video game players had already locked down its hardware so that it could no longer be used as easily by cryptocurrency miners.

Author: Thomas LeRoy
Source: BFM TV

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