Despite reporting a 24% drop in revenues in Q4 2018, Nivida, is looking to make a comeback following in this very cold crypto winter. Nivida, during the crypto bull market of 2017, had built up a stockpile of mining hardware that was no longer wanted in the market in 2018. This had hit its balance sheet hard!
Reported by Bloomberg the gaming chip maker is said to have nearly cleared out its crypto mining hardware stockpile. Nvidia stock price is already up 27% this year. Could this be another bullish indicator? Perhaps, with Bitcoin (BTC) hovering around $4k and if Nvidia has had most of its mining hardware stockpile sold. Bitcoin (BTC) halving is coming next year, its possible, the mining demand is picking up in anticipation to that.