SoftBank to Sell $3.4B Worth Nvidia Shares

Nvidia's shares lost price significantly due to crypto mining popularity decrese, experts says
07 February 2019   475

Vision Fund, the investment division of Japanese media corporation SoftBank, last month sold shares of Nvidia, a manufacturer of video cards popular among the miners, for $ 3.6 billion. This is reported by CNBC.

The decision to sell shares to Nvidia was made after a significant reduction in their exchange rate. The market value of the company's securities fell by about half during the last quarter of last year.

According to experts, the decline in the company's capitalization is largely due to the sharp decline in the popularity of cryptocurrency mining.

Mining Ban in China Won't Affect Bitmain & Canaan

This is said by the companies themself; also, Bitmain and Canaan did not indicate whether they intend to move the business abroad
11 April 2019   183

The prospect of a ban on mining in China will not have an impact on the operating activities of mining giants Bitmain and Canaan in the short term. This was stated by representatives of the press services of companies, 8btc reports.

At the same time, Bitmain and Canaan did not indicate whether they intend to move the business abroad, if the mining ban is set at the legislative level.

Note that China currently holds a dominant position in mining Bitcoin and Ethereum.

According to local cryptoexperts, mining equipment manufacturers will exist as long as Bitcoin has value.

Earlier in April, the National Development and Reform Commission of China issued a bill that called mining an “undesirable industry” and proposed banning it.

So far, the initiative has no legal force. Public discussion of the bill will last until May 7.