Nvidia

Nvidia to pay $5.5 mln for inadequate disclosure of crypto mining earnings

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Graphics card giant Nvidia has agreed to pay a US$5.5 million fine for inadequate disclosure on its sales related to cryptocurrency mining in its 2018 financial statements. 

See related article: SEC places Chinese crypto mining rig maker Canaan on pre-delisting list

Fast facts

  • Crypto mining was a “significant element of its material revenue growth from the sale of its graphics processing units designed and marketed for gaming,” the U.S. Securities and Exchange Commission said on Friday.
  • In a cease-and-desist order, the SEC found that Nvidia’s omission of such information was misleading investors.
  • Without admitting or denying the findings, Nvidia agreed to pay a US$5.5 million fine, the SEC said.
  • Nvidia has declined Forkast’s request for comment.

See related article: New York State Assembly votes to pause crypto mining



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