DigiTimes Reports Crypto Mining Hardware Excess At Asus And Gigabyte As Hype Subsides
Mining Hardware Surplus At Asus And Gigabyte
The decline in cryptocurrency’s value has had repercussions not only for investors, but for the mining hardware industry as well. It seems that Gigabyte and Asus are collecting excess hardware due to a difficult to sell it. The manufacturers had manufactured a great deal of hardware, especially based upon the belief that the cryptocurrency market was going through a boom period.
The excess hardware is not struggling to deal with the decline in the cryptocurrency market’s prices. Asus recently experienced a 43 percent decline in earnings compared to last year. While Gigabyte also reported its lowest quarterly level since a few years ago. The only manufacturer that seems to be surviving the storm is MSI, as it is only at a 6.6 percent loss.
These manufacturers are not the only ones who are seeing excess hardware. Large-scale and popular manufacturer Nvidia also reported a decline in sales of its graphics cards. In an attempt to push sales, the company started promoting a page on its website that introduces people to “use cases and applications” concerning blockchain. However, as many are noting, the webpage is less of an informational tool and is more of an advertisement.