you aren't wrong but i will nit-pick the bloom is off of the mining rose. the base numbers are there and those will continue to mine other crypto than ETH... BUT (nit pick coming) the rate of growth in this sub-market has slowed to a (metaphorical) crawl. Nvidia had made a bet on the growth rate to continue rising for mining and they bet wrong (obviously). i am part of Nvidia's market cap (incredibly small overall but still..) over production and the over estimation of demand is always bad. this doesn't affect Nvidia's viability as a company but it does affect wages and morale, plus leads to second guessing (appropriate or not). some people may be fired. technologically this comes at the worst possible time for Nvidia and a lot of the market forces are and will be squeezing further profitability as Nvidia has already picked all the low hanging fruit of structural and personnel changes, while the costs of infrastructure expansion have soared and been delayed because of Covid. it is Very Hard to get personnel to physically come to all the spanking new facilities. this is a problem throughout Silicon Valley and some have it even worse (Google). AMD however sold off their signature campus (like GloFlo) and has rented. which saves them millions from not having to service the debt or pay real estate taxes. AMD employees have little issues about return to work.