Nvidia to Quit Mining Race Due to Low Profit

At the same time, Nvidia's main business is showing solid results
23 August 2018   836

Leading manufacturer of video cards and chips Nvidia announced its decision to stop focusing on the cryptocurrency minning. Main reason - low profit. This is reported by CCN.

CFO Nvidia Colette Kress said that until the end of 2018 the company does not expect sales growth in this segment.

We believe we’ve reached a normal period as we’re looking forward to essentially no cryptocurrency as we move forward. Our revenue outlook had anticipated cryptocurrency-specific products declining to approximately $100 million, while actual crypto-specific product revenue was $18 million, and we now expect a negligible contribution going forward.

Colette Kress

CFO, Nvidia

Nvidia CEO Huang Jenshun also noted that the profitability of minning chips, which the company produces, is declining due to the market decline. At the same time, Nvidia's main business is showing solid results.

Thus, in the second quarter, Nvidia's sales in the gaming sector grew by 52% to $ 1.8 billion, while revenue from data centers grew by 83% to $ 760 million.

Chinese Miners to Fall Victims of Ransomware

Looks like ransomware came together with "improved" firmware, that should "overclock" device
21 January 2019   79

In China, a ransomware spreads, victims of which are Bitcoin miners. The damage from its activities is measured in tens of thousands of dollars. This is reported by Trustnodes.

The virus infects miners, released by Bitmain, and requires you to send 10 bitcoins, otherwise threatening to cause overheating of the device.

The problem is solved by formatting the SD card of the infected device, however, as Trustnodes notes, the whole process can take up to four days, while malicious software rapidly spreads to the other miners.

Compromised device
Compromised device

Probably, the virus comes with an "improved" firmware for miners. Some owners install such firmware to “overclock” their ASIC devices and improve their performance.

The first messages about the virus refer to August last year. In particular, Antminer S9, T9 and even L3 + for Litecoin were attacked. Over time, the malware has been improved. Now its distributor himself can decide when to display a message requesting a ransom. One miner also said that one night the address to which the 4,000 devices belonging to him sent the mined cryptocurrency was changed to the address of the hacker, which brought him $ 8,000.