A legal battle fought by Nvidia for three years has now concluded with the judge crowning Nvidia as the victor after the massively popular GPU manufacture was accused of misleading its investors about the number of GPUs officially sold to crypto mining companies.
The lawsuit consisted of the claim that Nvidia was misleading its investors by exaggerating GPU demand from gamers and instead preferred ruthlessly selling mining capable GPUs to crypto farming companies for a profit. After analyzing the evidence documents, Judge Heywood Gilliam, in charge of the case, closed the case, granting victory to Nvidia. Former employees of Nvidia, now working as plaintiff, acting as witnesses, were not able to present evidence that showed that Nvidia had shown significant “recklessness” when trying to reveal the revenue that was generated in the years 2017 and 2018, selling hardware to crypto miners.
Furthermore, Judge Heywood also cleared Nvidia stating that it is not sufficient for him to state that gaming was Nvidia’s main business. He also denied any arguments regarding many security law violations by Nvidia.
Nvidia’s support for crypto mining
Nvidia has gained massive popularity from its rapid growth in the crypto mining market, as their newer RTX 3000 series GPUs have proved to perform quite well in mining, producing good yield and also maintaining great power draw efficiency. According to the CFO of Nvidia, it is expected that the company will be able to sell $50 Million worth of mining hardware in the first quarter of 2021.
Due to this, the recent GPU shortage has angered many gamers around the world, causing a lot of frustration and confusion in the gaming market. Many people around the world are accusing these GPU manufacturers of selling GPUs to crypto miners at higher rates, generating profit, forgetting the gaming community in the process. It is still unclear what NVIDIA’s true intentions are. Even after the recent nerf to the mining capabilities of the newer GPUs and the announcement of crypto-exclusive GPUs, people are still skeptical about what the future holds.
With the release of the extremely popular RTX 3000 Series by Nvidia, many gamers are eager to get their hands on new cards as they provide a massive price to performance gain than the previous generation of RTX enabled GPUs, but the shortage in availability is not letting that happen as every website, and major outlet seems to be out of stock.