Does Nvidia like crypto?

Nvidia might have made a bundle off crypto miners buying the company's GPUs over the years, but that doesn't mean that the company likes cryptocurrency. In a recent interview with the Guardian, a company executive said that crypto adds "nothing useful to society," especially compared to AI chatbots like ChatGPT.

Will Nvidia be able to mine cryptocurrencies?

The biggest headwind currently facing Nvidia’s foray in crypto mining opportunities remains on the "reduced pace of increase in Ethereum network hash rate", which has weighed on mining-related chip demand.

Should you buy Nvidia's crypto stock?

Yet, crypto opportunities remain a nominal function in Nvidia's fundamental performance. Although the crypto sector's underperformance may be adding pressure on the Nvidia stock's near-term performance, it is creating a compelling entry opportunity.