Hong Kong (CNN Business) Bitcoin's slump is causing a big headache for one of Silicon Valley's top tech firms.

Computer chipmaker Nvidia's stock plunged nearly 17% in after hours trading on the Nasdaq on Thursday, after the company's third quarter financial results came in significantly lower than expected.

and other cryptocurrencies by solving complex math problems. Nvidia ( NVDA ) specializes in making hardware for video game consoles and digital currency mining , the process by which computers are used to create bitcoin and other cryptocurrencies by solving complex math problems.

But bitcoin prices have more than halved this year after a spectacular rally in 2017. That has hit demand for Nvidia's technology, the company revealed Thursday, causing unsolved inventory of its products to pile up.

"The crypto hangover lasted longer than we expected," Nvidia CEO Jensen Huang said on a conference call with investors Thursday.

Bitcoin prices have more than halved this year after a spectacular rally in 2017.

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