Investing.com - Cryptocurrency prices fell on Thursday as AMD said a decline in mining led to a sharp fall in revenue.
Bitcoin fell 0.68% to $6,526.80 on the Bitfinex exchange, as of 9:15 AM ET (13:15 GMT).
Cryptocurrencies overall were slightly lower with the total coin market capitalization at $209 billion at the time of writing, compared to $210 billion on Wednesday. Ethereum,or Ether, decreased 1.12% to $205.02 and Litecoin was at $52.811, down 1.53% while XRP dipped 1.49% to $0.46157.
Meanwhile semiconductor company Advanced Micro Devices (NASDAQ:AMD) reported a sharp decline in third-quarter revenue to due a fall in equipment sales to cryptocurrency miners.
The company said its revenue fell by 6% quarter over quarter, prompting a selloff of its stock, closing 9.17% lower on Wednesday.
“GPU sales came in lower-than-expected based on excess channel inventory levels caused by the decline in blockchain-related demand that was so strong earlier in the year,” Lisa Su, president and chief executive officer of AMD, said in an earnings call with analysts.
In other news, a U.S. District Judge dismissed a lawsuit against Coinbase earlier this week.
The suit, filed by Arizona resident Jeffrey Berk in March against Coinbase, accused the exchange of insider trading of Bitcoin cash prior to its listing on the exchange.
The judge dismissed the case, saying there was no legal basis for Berk’s claims.