Is 2024 an Nvidia Moment for Miners?

Bitcoin miners face an uphill battle in 2024 but it’s one that could reveal extreme winners.

I’ve been familiar with Nvidia for a while. When I built my cryptocurrency mining rig in 2020, I used Nvidia GPUs. These are the graphics processing units that facilitate anything from video to gaming to content creation on your computer. Nvidia is one of the top GPU and computer chip makers alongside others like AMD and Intel.

I’ve never been an investor in Nvidia but, as 2023 comes to a close, everyone wishes they had stock in Nvidia right now.

NVDA: +250% YTD

Nvidia stock rose 250% in 2023.

Mid-year, it really started to take off as conversations around artificial intelligence (AI) began to occur across all industries and seemingly throughout all aspects of everyday life. Why does the rise of AI benefit Nvidia? The primary reason is that both the hardware and software Nvidia produces will facilitate the use of AI.

The company is one of the best positioned to take advantage of the coming innovations around AI.

Others like Microsoft, Apple, and Tesla will of course also benefit but Nvidia is unique in that they’ve cemented themselves on the hardware side of this…