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Why Nvidia and AMD Won't Be Hurt By the Crash in Cryptocurrency Prices

Bitcoin and Ethereum prices are collapsing, marking a sharp reversal from the monster run-up in cryptocurrencies last month. But that isn't necessarily terrible news for chip giants Nvidia Corp. (NVDA) and Advanced Micro Devices Inc. (AMD) , who have benefited from cryptocurrency miners using their graphics processing chips.

Bitcoin has shed about a third of its value since their rally in June, pushing it into bear market territory. As of Tuesday afternoon, Bitcoins were trading at roughly $2,373 a piece, a drop of more than 20% from the all-time high of $2,954 that it reached on June 11, according to coindesk.com. The alternative cryptocurrency Ether, meanwhile, was trading at $194 each on Tuesday, having fallen more than 50% since registering an all-time high of over $400 on June 13.

The volatility doesn't bode well for cryptocurrency investors, but it doesn't doom Nvidia and AMD...


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