News Supreme Court shuts down Nvidia appeal — cryptomining class action suit will proceed

[Admin]

The Supreme Court put an end to Nvidia's appeal seeking to avoid a crypto-based class-action that began in 2018.

Supreme Court shuts down Nvidia appeal — cryptomining class action suit will proceed : Read more

 

[Pierce2623]

Nvidia had no accurate info to say how many of its GPUs were bought for crypto mining when they bought up all the gaming GPUs. It’s a stupid request in the first place and I don’t even like Nvidia.

 

[DougMcC]

Nvidia had no accurate info to say how many of its GPUs were bought for crypto mining when they bought up all the gaming GPUs. It’s a stupid request in the first place and I don’t even like Nvidia.

The wording seems to suggest that Nvidia had such information, and made a choice to withhold it. That's a very different situation legally from just not having the information.

 

[UnforcedERROR]

Nvidia had no accurate info to say how many of its GPUs were bought for crypto mining when they bought up all the gaming GPUs. It’s a stupid request in the first place and I don’t even like Nvidia.

I'd argue that they could fairly approximate their increase in revenue relative to previous iterations of their products. The crypto miners weren't terribly subtle in their purchases, and NVidia openly obliged. There's a reason GPU scarcity was crazy for a while, because plenty of these operations bought directly from NVidia. They absolutely have those numbers. Can they put an exact number on things? No, but they can certainly guess.

 

[dk382]

Maybe they couldn't have had exact estimates, but there was plenty of data they could have used to approximate in broad terms that crypto mining was tilting the scales. Let's face it, everyone who was tuned into the PC hardware scene at the time knew it. This wasn't a case where we only saw in hindsight how crypto mining tilted the market, we all knew at the time too. We could see the massive increase in mining activity on the blockchain, we could also see loads of new mining operations starting up with gaming GPUs. The miners weren't hiding it, they were posting pictures of their massive operations for everyone to see. And I'm sure Nvidia had better data than we did. So Nvidia avoiding mentioning any of this to their shareholders when presenting them with rising "gaming" revenue was very suspect indeed.

 

[Math Geek]

we're not talking about some guy with 10 gpu's in his garage. hundreds of thousands of gpu's bought directly from nvidia from a single entity for mining is something they def knew about and could easily quantify in their filings. the scarcity was not from the small scale operations but those running literally 100,000 + at a time (and some we saw reports on that were over 500k in a single operation).

yah nvidia def knew how much of the cards were going to miners or at least a VERY VERY good idea .....

 

[hotaru251]

Nvidia had no accurate info to say how many of its GPUs were bought for crypto mining

accurate? perhaps not that much however they did know a lot of it.

There was GPU shortage and they were direct selling pallets of GPU to people and not actual vendors.

 

[Sleepy_Hollowed]

Letthemfight.gif

 

[das_stig]

Surely with all the AI processing power NV can manufacturer, they could have mined that data and still have change left over for the lawyer's bar bill after paying t for the electricity. 🤔

 

[Pierce2623]

accurate? perhaps not that much however they did know a lot of it.

There was GPU shortage and they were direct selling pallets of GPU to people and not actual vendors.

Oh they could definitely approximate it and I’m sure they did. Maybe they outright lied in their numbers.

 

[spongiemaster]

accurate? perhaps not that much however they did know a lot of it.

There was GPU shortage and they were direct selling pallets of GPU to people and not actual vendors.

This lawsuit is based on the 2017 bitcoin bubble that lasted less than 6 months. The effects on GPU availability were very brief and there was no public evidence that Nvidia was selling pallets to anyone. AMD's GPU's were superior to Nvidia's for bitcoin mining and were more coveted. What all you people are describing was the more recent ethereum bubble that started at the launch of Ampere in 2020.

This lawsuit is largely based around the guesstimate of a respected financial analyst that did a bunch of guesstimations and by their own admission stated there was no way to nail down the numbers. Nvidia likely did understate the impact of crypto on their bottom line, but good luck proving that in addition to what degree they did.