{"id":39255,"date":"2026-03-27T07:00:00","date_gmt":"2026-03-27T07:00:00","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=39255"},"modified":"2026-03-27T07:00:00","modified_gmt":"2026-03-27T07:00:00","slug":"nvidia-faces-class-action-after-court-oks-1-billion-crypto-mining-revenue-claims-stock-dips-7","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=39255","title":{"rendered":"NVIDIA Faces Class Action After Court OKs $1 Billion Crypto-Mining Revenue Claims \u2013 Stock Dips 7%"},"content":{"rendered":"

NVIDIA shares, NVDA, fell 7% on Thursday after a US federal judge allowed an investor lawsuit to proceed as a class action, reviving allegations that the company and CEO Jensen Huang concealed more than $1 billion in crypto-mining\u2013related graphics card sales.\u00a0<\/p>\n

NVIDIA Accused Of Hiding $1 Billion In Crypto Sales<\/h2>\n

The suit, originally filed in 2018, contends that NVIDIA misled shareholders by attributing surging revenue to gaming demand while minimizing the substantial contribution from cryptocurrency miners<\/a>.\u00a0<\/p>\n

Plaintiffs maintain that the company funneled orders from miners through consumer GeForce gaming cards rather than reporting them under dedicated crypto product lines, inflating the appearance of organic gaming growth.\u00a0<\/p>\n

According to internal testimony and documents disclosed in the court filing<\/a>, independent analyses place undisclosed crypto-related GPU revenue between $1.1 billion and $1.35 billion\u2014far exceeding what NVIDIA publicly acknowledged at the time.<\/p>\n

In court materials, one insider identified as \u201cFE 1\u201d explained how the tracking system monitored miner purchases; another, \u201cFE 2,\u201d said Huang participated in sales meetings where crypto-driven demand and its effects on revenue were discussed.\u00a0<\/p>\n

Plaintiffs argue these accounts, together with internal records<\/a>, show NVIDIA was aware of the scale of miner demand but publicly downplayed its significance.<\/p>\n

Class Action Certified Despite Company Defense<\/h2>\n

NVIDIA has long maintained that crypto mining accounted for only a small fraction of its business and that any mining-related exposure was largely confined to dedicated Crypto SKUs within its OEM segment.\u00a0\u00a0<\/p>\n

NVIDIA\u2019s defense has drawn backing from industry groups: in August 2024, the Digital Chamber of Commerce filed an amicus brief urging the US Supreme Court to overturn a Ninth Circuit decision that had partially revived the case.<\/p>\n

Regulators have previously sanctioned<\/a> NVIDIA over related disclosure issues. In 2022, the Securities and Exchange Commission (SEC) fined the company $5.5 million and issued a cease-and-desist order for allegedly failing to fully disclose how crypto-mining demand affected fiscal 2018 results.\u00a0<\/p>\n

Despite that settlement, plaintiffs say the newly surfaced internal emails and testimony support their contention that NVIDIA\u2019s public statements materially mischaracterized the drivers of its 2018 revenue.<\/p>\n

The alleged concealment had real market consequences: when cryptocurrency prices collapsed in late 2018, and miner demand<\/a> evaporated, NVIDIA sharply lowered its revenue guidance, citing excess inventory and weaker miner orders.\u00a0<\/p>\n

The stock plunged over two trading days, precipitating the investor suit that has now been certified as a class action by Judge Haywood S. Gilliam Jr. Judge Gilliam reached the certification after NVIDIA failed to demonstrate that its statements had no impact on the company\u2019s stock price.\u00a0<\/p>\n

Court filings also include an internal email from a senior vice president that suggested NVIDIA\u2019s valuation remained elevated because of the company\u2019s public reassurances\u2014an item plaintiffs point to as evidence of market effect.<\/p>\n

\"NVIDIA\"<\/p>\n

At the time of writing, NVDA was trading at $172, down almost 18% from its all-time high of $212 set in October of last year.\u00a0<\/p>\n

Featured image from CNBC, chart from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

NVIDIA shares, NVDA, fell 7% on Thursday after a US federal judge allowed an investor lawsuit to proceed as a class action, reviving allegations that the company and CEO Jensen Huang concealed more than $1 billion in crypto-mining\u2013related graphics card sales.\u00a0 NVIDIA Accused Of Hiding $1 Billion In Crypto Sales The suit, originally filed in […]<\/p>\n","protected":false},"author":1,"featured_media":39256,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[],"tags":[],"class_list":["post-39255","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"\nNVIDIA Faces Class Action After Court OKs $1 Billion Crypto-Mining Revenue Claims \u2013 Stock Dips 7% - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=39255\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NVIDIA Faces Class Action After Court OKs $1 Billion Crypto-Mining Revenue Claims \u2013 Stock Dips 7% - 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