Monday, August 30th 2021
Genesis Mining Gets 485K GPUs Returned by China Supreme Court
Genesis Mining, one of the largest cloud providers of cryptocurrency mining services headquartered in Iceland, has today won a great deal with China's Supreme Court. According to the reports, Genesis is now getting back the 485,000 AMD Radeon RX 470 8 GB graphics cards returned to its mining facilities in hopes of soon usage. What leads to this you might wonder? Previously, Genesis Mining partner, Chuangshiji Technology Limited, which provides hosting services for Genesis, took the company's mining hardware and started listing it without consent from the Iceland-based firm.
As the company filed a lawsuit in China supreme court, the legal disputes were going on for some time and today Genesis has won. According to the report, Genesis is getting back as much as 485,000 AMD Radeon RX 470 8 GB graphics cards with a total mining power of 14.5 TH/s. All these GPUs are now looking for a new home inside Genesis Mining facilities and will be able to provide a bit over a million dollars in mined Ethereum, at today's prices.
Source:
via TweakTown
As the company filed a lawsuit in China supreme court, the legal disputes were going on for some time and today Genesis has won. According to the report, Genesis is getting back as much as 485,000 AMD Radeon RX 470 8 GB graphics cards with a total mining power of 14.5 TH/s. All these GPUs are now looking for a new home inside Genesis Mining facilities and will be able to provide a bit over a million dollars in mined Ethereum, at today's prices.
12 Comments on Genesis Mining Gets 485K GPUs Returned by China Supreme Court
Guess we will know soon, everyday these gpu not sold or use for mining are lost in potential revenue.
As I said, this is gamer clickbait, with as much relevance to them as agricultural news.
For example: www.techspot.com/news/91002-chinese-court-returns-over-485000-radeon-gpus-cloud.html
Only the RX 590 only came in 8GB, and the RX 480 and RX 580 had official AMD spec for 4GB and 8GB, with the RX 470 and RX 570 only having official AMD spec for 4GB, but AIBs were able to put 8GB if they wanted to. As for unofficial stuff, there was a 16GB RX 570, that one is a mining card. Apparently there is also a dual-GPU RX 570.
I'm imagining the colossal amount of time and effort needed to take---and then return--- 485,000 video cards... and then having to re-install them all....:banghead:
Guess these gpu's weren't flattened by bulldozers... lol