Meteoric Bitcoin Rally Won’t Rescue Nvidia’s Flailing Stock

TweetShareBy CCN: Nvidia previously blamed its negative earnings report on “crypto winter,” the vaunted extended bear market which Bitcoin appears to have finally exited.

This confidence may be undermined today as the company is likely to report a decline in that division, as well.Nvidia Revenues Down 32% & a Resurgent Crypto Market Won’t HelpNvidia shareholders shouldn’t count on GPU-intensive cryptocurrency mining to help the ailing chipmaker regain its footing.

An analyst with Stifel told Bloomberg:“We are cautious on Nvidia shares in front of its earnings report.

Bitmain itself was forced to downsize and, amid other problems, let its application for an initial public offering expire.