$ETH.X is about to go from being the main cryptocurrency that people would mine to becoming the cryptocurrency that people would primarily stake.

With Ethereum moving to Proof of Stake, miners are debating on whether to go to $BTC.X mining, which is more competitive and could be way more competitive if more people from the Ethereum community start mining Bitcoin or to sell their chips and mining hardware and use the cash to invest in another business opportunity.

$NVDA noted in their recent earnings report that they are unsure how their cryptocurrency business will do in the future. Will the company have a tougher time competing with the used chip market?

There are other cryptocurrencies that people can mine with their Ethereum mining equipment. However, with the brutality of this current crypto bear market, mining other cryptocurrencies are less attractive, with many creating losses for miners. Miners can mine the cryptos now at these lower prices and bank on a possible rebound but with rising rates and other macro factors, I doubt many of them would be able to keep mining internet coins at a loss for more than a year.

While Nvidia has said that its move towards providing chips and tech for the automotive and autonomous driving trends will bring "billion dollar opportunities" to the business, I doubt that the company can reap huge profits from this move. This is because other chipmakers like $SWKS $AVGO and $QRVO are also looking to double down on providing chips for the automotive and autonomous driving trends.

The reasons why these other chipmakers want to get into these trends as well as other trends like smart homes and smart factories is that they would like to diversify their revenues away from $AAPL and the smartphone industry in general. The smartphone industry is mature and because of that, there are limited growth opportunities there.

Overall, as chipmakers look to diversify their revenues and capitalize on emerging trends early, investors should be cautious about the profit projections that these companies create. It's not just one chipmaker that's moving to capitalize on that trend; it's many more chipmakers that are jumping on that trend too. And all chipmakers are getting desperate to jump on these new trends because they're starting to lose profits in the niches that they currently serve.