[TechSpot] Analyst says Nvidia lied about its cryptocurrency earnings to avoid stock crash - Overclock.net - An Overclocking Community

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[TechSpot] Analyst says Nvidia lied about its cryptocurrency earnings to avoid stock crash

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post #1 of 47 (permalink) Old 02-02-2019, 02:41 PM - Thread Starter
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[TechSpot] Analyst says Nvidia lied about its cryptocurrency earnings to avoid stock crash

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"We think Nvidia generated $1.95 billion in total revenue related to crypto/blockchain," said Royal Bank of Canada Capital Market Analyst Mitch Steves. "This compares to company's statement that it generated around $602 million over the same time period."

According to Steves, measuring the hash rate and calculating the volume of Ethereum and other cryptocurrencies mined from April 2017 to July 2018 reveals that roughly $2.75 billion should have been generated in sales. Nvidia should have captured about three-quarters of that, with AMD getting the rest.

AMD’s earnings forecast, released last Tuesday, backs up this idea. They expect revenue of $1.25 billion, 24% lower than this time last year. Nvidia’s forecast was $2.7 billion, but they recently dropped it to $2.2 billion prompting their most recent stock price troubles.
https://www.techspot.com/news/78548-...oid-stock.html
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post #2 of 47 (permalink) Old 02-02-2019, 04:06 PM
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It does not take an Analyst to figure that out. Pascal was selling more than they did the first year of launch and somehow Nvidia a lot made more profit?

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post #3 of 47 (permalink) Old 02-02-2019, 09:59 PM
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I don't understand the wording of this article.
They claim that nvidia said they earned 600M$ instead of actually earning 1.95B$? So they hide 1.3B$
Why would nvidia hide 1.3B$ from their shareholders? To hide a bigger drop later?


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post #4 of 47 (permalink) Old 02-02-2019, 10:13 PM
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yes, because it show that their previous earnings was much more dependent on the mining income and thus the investors could see the big drop in income after mining ended.
Add this to the ongoing lawsuit and I think the CEO is in troubles and soon he will forced to step down as the CEO of nVidia.
https://finance.yahoo.com/news/nvidi...035000083.html
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post #5 of 47 (permalink) Old 02-02-2019, 10:57 PM
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From the article

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According to Steves, measuring the hash rate and calculating the volume of Ethereum and other cryptocurrencies mined from April 2017 to July 2018 reveals that roughly $2.75 billion should have been generated in sales. Nvidia should have captured about three-quarters of that, with AMD getting the rest.
Apparently, that Analyst completely forgot the existence of dedicated ASICs for mining, and came up with the amazing analysis that total sales estimated from hash rate - AMD sales = Nvidia's sales.

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post #6 of 47 (permalink) Old 02-02-2019, 11:28 PM
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Not related but I can't help but wonder if Nvidia would have made more money selling all the GPUs to miners or mining with them instead.
Back when it was still worthwhile I bet Nvidia dabbled in their own mining operation. If it was profitable for miners to mine with $1000 GPUs it would be even more so for Nvidia or AMD. Plus they get to sell them as refurbs.

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post #7 of 47 (permalink) Old 02-02-2019, 11:46 PM
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Quote: Originally Posted by Kpjoslee View Post
From the article



Apparently, that Analyst completely forgot the existence of dedicated ASICs for mining, and came up with the amazing analysis that total sales estimated from hash rate - AMD sales = Nvidia's sales.
Rep+ if it ever comes back.

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post #8 of 47 (permalink) Old 02-03-2019, 12:07 AM
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Quote: Originally Posted by Kpjoslee View Post
From the article



Apparently, that Analyst completely forgot the existence of dedicated ASICs for mining, and came up with the amazing analysis that total sales estimated from hash rate - AMD sales = Nvidia's sales.
Aren't ASICs mostly used for Bitcoin, while the Crypto boom of 17-18 was largely derived from GPU-based mining of Ethereum?

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post #9 of 47 (permalink) Old 02-03-2019, 12:40 AM
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Quote: Originally Posted by m4fox90 View Post
Aren't ASICs mostly used for Bitcoin, while the Crypto boom of 17-18 was largely derived from GPU-based mining of Ethereum?
There are ASICs for pretty much any algorithm there.
The Ethash ASICs are not much more efficient than a mining rig, like 20-30% better in power consumption only. The ASICs on ETH probably take up to 5% tops.

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post #10 of 47 (permalink) Old 02-03-2019, 01:03 AM
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Quote: Originally Posted by white owl View Post
Not related but I can't help but wonder if Nvidia would have made more money selling all the GPUs to miners or mining with them instead.
Back when it was still worthwhile I bet Nvidia dabbled in their own mining operation. If it was profitable for miners to mine with $1000 GPUs it would be even more so for Nvidia or AMD. Plus they get to sell them as refurbs.
I'm not sure their share holders would appreciate nvidia or AMD to dab into a very unstable market.
I mean, they can, of course, but also if bitcoin prices plummet, they could also basically lose a hell of a lot of money from lost revenue, which could even tank the shares even more.

There are also the issues of being regulated and being traded in the stock market, that could also put them in high water over such practice.

That is not something they can just do without possible horrible consequences to either of them. I'm sure someone in there entertained the idea but decided not to take such a big risk.

The makes of the dedicated ASIC thought are doing this for years. Making their ASIC, put only a fraction into the market, mining on them the rest, and sell them once new tech comes out to make better ones. But those are private companies or individuals for the most part.


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