At the end of 2017, the bitcoin currency rose to a record, and the search for ways to obtain it increased, and one of the well-known methods is the mining process.

The GPU graphics cards, whether of Nvidia or AMD, were very popular as a result of a large number of users going to use them in the mining process, which means that Nvidia, the subject of our conversation, was achieving huge sales and thus achieving high profits.

Here, things are normal.

To appear unusual, he directed and filed a lawsuit against Nvidia, which reported a billion dollars in revenue from selling its graphics cards to players, but in fact the proceeds were the result of the increased demand by Bitcoin miners who were using them to mine for Bitcoin.

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Lawsuit against Nvidia:

complaint andlawsuit Directed by a group of angry investors who had previously invested in Nvidia, the complaint was filed this week in a California court.

The complaint filed by the investors bears the subject that Nvidia has defrauded its numbers and deceived them in its financial reports.

In the sense that Nvidia and its graphics card products went through a boom period as a result of the intense demand from Bitcoin miners, but it was told that the demand was from electronic game players, but none of the players was willing to pay large and inflated amounts.

According to the text of the lawsuit:

In early 2017, Nvidia faced an unusual problem, its flagship product was flying off the shelves.

Under normal circumstances, such a trend would be exhilarating.

But the explosive growth in sales was not due to increased demand from gamers (traditional Nvidia consumers), but rather to groups of online miners who were buying processors by the thousands and spreading them in huge data centers to solve complex mathematical problems in the quest for digital tokens.

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While everything seemed rosy for Nvidia.

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The lawsuit says that Nvidia knew that the crypto-mining craze would come to an end, so it decided to hide a lot of crypto-mining-related sales.

The lawsuit also alleges that Nvidia has cards dedicated to mining and gaming cards, but in its report it indicated that graphics cards for gamers are also booming, which made investors expect continued demand for graphics cards aimed at gamers.

And when the inevitable happened and crypto prices crashed, thus weakening mining activity, Nvidia shares fell 19% in November 2018, and lost almost half their value a month later.

The suit seeks damages for what it claims is a violation of US securities laws.

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