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Nvidia Posts Record Earnings on Videogaming, Cryptocurrency Demand



Nvidia Corp.

NVDA 0.33%

reported record sales and earnings each quarter, fueled by demand for video games and cryptocurrency, and despite a widespread shortage of semiconductors.

The chipmaker posted net income for the last quarter of $ 1.91 billion on Wednesday, more than double what it was last year. Revenue grew 84% to $ 5.66 billion. According to analysts surveyed by FactSet, both profit and sales exceeded expectations.


What does the next quarter hold for Nvidia? Join the following conversation.

Nvidia is the newest chipmaker to have seen booming demand for computing power for months, which has topped the order books. The hot market has left some chips with shortages affecting companies like Apple Inc.

and Ford Motor Co.

F. 8.51%

and contributing to President Biden’s recent call for $ 50 billion to strengthen the US semiconductor industry.

Santa Clara, California-based Nvidia, which became the largest chip company in the United States by value last year, specializes in graphics processors that hit shelves for entertainment during the coronavirus pandemic. The way these graphics chips work has made them popular for other uses as well, including performing calculations using artificial intelligence and mining cryptocurrencies, which continues to drive demand.

Nvidia’s gaming division – the top-selling segment – more than doubled its revenue in the quarter. Data center revenue increased 79% year over year to over $ 2 billion. The main drivers for the record revenues were graphics cards for laptops and PCs, said CFO Colette Kress. Demand for cryptocurrencies also contributed to the results, she said with some uncertainty about the extent of her contribution.


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Ms. Kress said the company is still feeling the effects of supply shortages and expects this to continue into the second half of the year.

CEO Jensen Huang said the company’s key businesses would continue to grow despite supply challenges as gamers snap up their high-performance graphics cards and data center customers ramp up using artificial intelligence.

“Our games business and our data center business are strong and growing,” he said in an interview. “We expect the second half to be bigger than the first half,” he said of the company’s sales outlook.

The company’s latest generation of graphics cards sold so quickly that a secondary market arose where scalpers sold them at inflated prices. To alleviate the shortage of cards for video gamers, Nvidia took the unusual step of adding software to limit the performance of cryptocurrency mining. Nvidia hopes the move will spur miners to buy new hardware that will target them instead.

Nvidia’s exposure to the cryptocurrency mining market has had its ups and downs. The company saw its worst quarterly revenue decline in nearly a decade four years ago in the fourth quarter of its fiscal year after cryptocurrency prices skyrocketed and mining became unprofitable.

Mr. Huang is trying to expand Nvidia’s focus even further with the planned takeover of British chip designer Arm Holdings for $ 40 billion. The transaction has sparked alarms among some competitors who fear Nvidia would compromise the neutrality of Arm, which supplies chip designs for most of the world’s cell phones. The UK government started a national security review of the agreement earlier this year. Nvidia said Wednesday that the proposed deal transaction was progressing and should be completed before April 2022.

The company expected sales of around $ 6.3 billion for the current quarter, exceeding Wall Street’s expectations. Revenue should increase sequentially in all markets in the current quarter, said Ms. Kress, mainly in the data center and gaming area.

Nvidia’s stock is up around 80% over the past year. To make itself attractive to a wider range of investors, Nvidia said on Friday that its board had declared a 4-for-1 stock split. The move still requires the approval of the shareholders at the company’s annual meeting scheduled for next week.

The company’s shares fell less than 1% in after-hours trading.

How the global chip shortage affects you

Write to Asa Fitch at

Copyright © 2020 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the print edition of May 27, 2021 as “Video games, crypto demand drives Nvidia’s strong quarter”.


Docker Changes Free-Tier Service Policy Due to Cryptocurrency Mining Abuse – Bitcoin News



Docker, a popular cloud computing integration solution, is making changes to its free service due to the abuse of cryptocurrency mining. The service discontinued its “autobuild” function due to abuse by malicious actors to mine cryptocurrencies on their servers. This is a modus operandi that now affects multiple cloud platforms for continuous integration, including GitHub, GitLab, and Microsoft Azure.

Docker needs to make changes to its free tier services

Docker, a popular CI cloud service, is making changes to its service policy due to crypto mining abuse. The cloud computer continuous integration service announced last week that it would no longer provide its autobuild functionality for its free service. Docker announced this in a blog post, stating that attacks have increased over the past few months and are affecting their paying customers. The team stated:

In April we saw the build hours increase by double our usual usage and by the end of the month we had already disabled ~ 10,000 accounts due to mining abuse. The following week we had another ~ 2200 miners spin up.

Docker is extremely popular software that enables applications to run in compartments. This means that a package has all of the libraries needed to run the app. This new restriction affects some users who have used the autobuild function for free. The Docker team stated that while it wasn’t an easy decision, it was the only action they could take to curb the abuse.

While Docker is a notable platform to be affected by this new type of attack, it is by no means the only one. Several providers of continuous integration cloud-based are now facing similar attacks and are also investigating countermeasures.

Cloud computing in the crosshairs

Companies such as GitHub, GitLab and Microsoft Azure that offer cloud computing services are also affected by these attacks. The attackers hijack the continuous integration services by adding code to the apps that changes their original function. The virtual machines that are created to compile apps are repurposed to mine cryptocurrencies for their lifetime, which affects the performance of these services.

But the problem goes beyond free tiers. An engineer at CodeShip, a cloud platform, said in an interview with The Record that:

Sometimes they pay the low fees on our accounts, which are much cheaper than renting directly from AWS, and mine cryptocurrency at maximum capacity.

While the problem persists, larger companies can afford to handle the additional performance hit. However, small businesses are likely to be forced to combat these attacks with countermeasures like the one launched by Docker.

What do you think of Docker changing its policies due to mining abuse? Let us know in the comments section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of Liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or approval of any product, service, or company. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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bitcoin price: Top cryptocurrency prices today: Bitcoin, Polkadot, Ethereum surge up to 16%



NEW DELHI: Major cryptocurrencies traded higher on Tuesday after investor confidence was boosted by Tesla CEO Elon Musk’s tweet over the weekend. Led by Bitcoin and Polkadot, all of the top 10 digital tokens saw an increase of up to 16 percent.

After another weekend of wild price swings, the crypto market got its mojo back after Musk pared criticism of its market influence, saying Tesla had sold Bitcoin but may have resumed transactions with it. Investors eagerly await Tesla’s next earnings update – due next month – for any disclosure of changes in its position.

The crypto market rose sharply as Tesla announced purchases in digital Numero Uno tokens, while the virtual currency market collapsed

to use. Tesla’s U-turn on cryptos wasn’t the only trigger, however. Around the same time, the Chinese government took action against institutions dealing with cryptocurrencies.

“Bitcoin is the market leader and the dominant asset. It has managed to keep the crypto community, financial institutions and banks interested in the asset as the volume has held the position and has not decreased much. This is the result of banks, MNCs and, in some cases, even governments seeing the potential of the asset, “ZebPay told Trade Desk.

“A highly anticipated event, the Ethereum Protocol Upgrade Proposal (EIP-1559), which promises us to provide an improved transaction process and streamline the user’s experience by reducing transaction costs and making the determination of fees much easier and simpler Being made less stressful and wasteful is also due very soon, “she added.

“We can see a consolidation in the markets. Trading volumes remained low. This consolidation was well anticipated and could continue for the whole month. The sell-off had very little trading volume, which is a positive sign for the crypto market, ”said Edul Patel. CEO and co-founder of Mudrex.

Crypto shopping cart: Quick Glance (Source:, data as of 9.30 a.m., ACTUAL on June 15, 2021)

  • Bitcoin: $ 40,518.56, up 4.32 percent
  • Ethereum: $ 2,595.23, up 4.82 percent
  • Tether: $ 1.00, up 0.07 percent
  • Binance Coin: $ 373.65, up 4.22 percent
  • Cardano: $ 1.58, up 2.54 percent
  • Dogecoin: $ 0.33, up 1.74 percent
  • XRP: $ 0.89, up 2.16 percent
  • Polkadot: $ 25.26, up 16.785 percent
  • USD coin: $ 1, up 0.04 percent
  • HEX: $ 0.092, up 6.09 percent

Note: price change in the last 24 hours

Tech View of Giottus Cryptocurrency Exchange

Cardano (ADA)

Everyone is talking about Cardano at crypto town and has gained incredible amounts after one of the founders discussed its roadmap through 2025. Cardano will grow into one of the most sophisticated ecosystems in the crypto space in the coming years. This news is very bullish for Cardano and the market has reflected it on its charts.

Cardano recently broke trendline resistance of a falling wedge pattern. It is expected to test the trendline resistance of a huge ascending channel, a short-term bullish pattern. ADA remains bullish and will remain so until it is on the channel. Once broken down, it can hit multiple lows. But when ADA breaks and exceeds $ 2.45, new highs can be formed.

All of these moves remain dependent on the movement of Bitcoin, which broke out of its downtrendline this week and appears to be targeting $ 43,000 as the next resistance.

Main stages

Support: $ 1.25, $ 1.16, $ 0.96

Resistance: $ 1.87, $ 2.0, $ 2.45

Binance Coin (BNB)

Binance Coin (BNB) has risen parabolically since late 2020 and recorded a more than 60 percent correction after the crypto crash in May 2021. It is the native coin of the Binance exchange.

BNB is currently forming a rising wedge that can still grow until the first week of July. It will be interesting to see how BNB performs as it broke a large technical and psychological resistance ($ 350) and is being tested

100 (100 day exponential moving average). Breaking the EMA 200 and the trend line resistance of the rising wedge will be extremely bullish for the NBB.

Since the ascending wedge is inherently bearish, we cannot rule out the possibility of a bearish reversal. But it will likely bounce off the first ($ 350) or second ($ 275) big support after collapsing. Failure to bounce back from the second big support, the NBB could fall to the USD 210 level.

Main stages

Support: $ 305, $ 290, $ 275

Resistance: $ 410, $ 430, $ 475

The time is in UTC and the daily time frame is 12:00 PM – 12:00 PM UTC

(The views and recommendations in this section are the analysts’ own views and recommendations and do not reflect those of Please consult your financial advisor prior to entering into any position in any of the above assets.)

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‘Banks should be scared’ of cryptocurrency-based DeFi



Billionaire investor Mark Cuban is very optimistic about the future of DeFi or decentralized finance and DAOs or decentralized autonomous organizations.

“There are many financial institutions that should be concerned,” Cuban wrote in a blog post on Sunday. For one thing, “banks should be afraid,” he wrote.

DeFi applications aim to emulate traditional financial systems with cryptocurrency, while DAOs can control and monitor DeFi applications and other projects.

DAOs are similar to traditional companies or organizations, instead control is democratized within DAOs. Instead of having a centralized leader, DAOs have members who vote on decisions and rules, which are then coded into smart contracts on the blockchain.

For example, DeFi loans allow users to lend cryptocurrencies like a traditional bank does with fiat currency and earn interest as a lender. DeFi loan applications like Aave, Compound and Maker are regulated by DAOs.

The structure of these decentralized protocols is one of the things that piqued Kuban’s interest and made him think that DeFi could be a serious competitor to traditional banks.

He uses Aave as an example to explain why. (A Shark Tank star and owner of the NBA’s Dallas Mavericks, Cuba invested in Aave, which he announced during a Reddit “Ask Me Anything” in February.)

“Aave looks like a bank like its competitor Compound. But it’s not. Nowhere around,” said Cuban. “Aave is a fully automated, permissionless platform with no bankers, no buildings, no toasters, no safes, no cash, no money custody, no forms to fill out, no credit ratings.”

“Everything is controlled by smart contracts. It’s fully automated. You don’t have to get approval from anyone and it takes minutes to get a loan.”

This, of course, is part of what makes DeFi so risky. Unlike a traditional bank, there is no regulation or insurance for your money when you use DeFi. Although DeFi loans are collateralized with other crypto assets, borrowers who use DeFi protocols cannot otherwise be held responsible if they cannot effectively repay a loan.

“The old crypto adage ‘don’t put in more than you can afford to lose’ applies twice to DeFi,” reported CoinDesk. “This stuff is overly complex and a lot can go wrong.”

DeFi-related hacks stole $ 156 million between January and April, according to CipherTrace.

Another feature that draws Cubans to DeFi exchanges is the fact that they don’t necessarily have to raise a lot of capital to scale, he says. “Rather than the company’s owners, investors and their creditors raising capital for all transactions that take place, the liquidity providers (LPs) do it for them,” he wrote.

Liquidity providers are users who fund pools that enable DeFi loans or loans, among other things.

For Cuban, this makes automated financial markets like DeFi “so much more capital and operational than comparable traditional companies”.

Cuban acknowledges the risks and admits that with all of this technology there are technical details to be clarified, but still says that “this approach is the future of private banking”.

And despite the risks, DeFi has been particularly buoyant lately. DeFi Pulse currently has more than $ 60 billion locked in DeFi logs, according to DeFi Pulse.

Cuban is a liquidity provider for a decentralized exchange, he wrote in his blog post. He is also invested in a number of companies in the crypto space, including DeFi companies, and has a portfolio of multiple cryptocurrencies, including Bitcoin and Ethereum.

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