Alibaba May Launch Mining Platform

Mining may be included in the functionality of the main Alibaba platform in the future
17 January 2018   646

Chinese giant of Internet commerce Alibaba Group has launched a platform for the mining of cryptocurrency. This is reported by CCN with reference to unconfirmed information from local media.

As noted by the Tencent News, on October 10, Alibaba registered a platform based in China's Nanjing called P2P Nodes.

Alibaba has recently launched a virtual currency mining platform “P2P node”, from the terms of the service agreement terms platform, the main operating platform is Alibaba East China Ltd.
 

Tencent News

The new initiative of the world-famous conglomerate was also reported by the traditional supplier of insider information from China cnLedger. But in few hours, they posted another message.

In a separate message Tencent indicated that the operations on the platform will be carried out in favor of "third parties". Presumably, this means that Alibaba will provide customers with a cloud-based service, allowing them to rent the company's hash capacity.

A local source also says that Alibaba is "extremely circumspect" regarding the new project. So, the clients of the platform will be able to widthraw only fiat money using the Alipay service. At the same time, according to the conditions of using the service, the ability to output crypto currency directly is inaccessible.

It is worth noting that recently the founder of Alibaba, Jack Ma, stated that his company would not engage in activities related to crypto-currencies.

Nvidia to Unveil Mining GPUs Sales Profit

In the first quarter of the fiscal year 2019, miners brought to the giant $ 289 million in profit
11 May 2018   122

Nvidia Corporation published data on revenues from the sales of video cards for the production of crypto-currencies for the first time. So, in the first quarter of the fiscal year 2019, miners brought to the giant $ 289 million in profit. At the same time, the company expects that this figure will become much smaller in the second quarter, Bloomberg reports.

For example, during a group call on revenue, Nvidia CEO Huang Jenxun noted that the demand for video cards for mining was higher than expected, but the company believes that in future the number of GPUs bought by miners will decrease by about two-thirds.

Crypto miners bought a lot of our GPUs in the quarter and it drove prices up. I think that a lot of gamers weren’t able to buy into the new GeForce as a result.
 

Jensen Huang

Chief Executive Officer, Nvidia

The mining GPUs sales profit of Nvidia, was higher than that predicted by analysts. For example, Christopher Rolland of Susquehanna predicted that the corporation will earn about $ 200 million on video cards for the production of cryptocurrency.

Earlier, the head of Nvidia, Huang Jensen, said that, despite the pressure from regulators, cryptocurrencies will be popular for many more years. At the same time, according to a study by analyst firm Jon Peddie Research, the cryptocurrency alaquotes helped AMD reduce the market gap from Nvidia and secured 10% of the company's profit in the first quarter of 2018.