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Nvidia has received a fine of $5.5 million from the U.S. Securities and Exchange Commission (SEC), for failing to disclose the impact of crypto mining on the sale of its GeForce GPUs. The company has neither admitted nor denied the charges, and has agreed to a cease-and-desist order in addition to paying the penalty in full.<\/p>\n

While it\u2019s no secret that demand from crypto miners has contributed to the limited availability of the best graphics cards from Nvidia in recent years, this charge stems the company\u2019s revenue during the 2018 fiscal year. Throughout that time, the SEC says \u201cNvidia customers increasingly used its gaming GPUs for cryptomining,\u201d following higher demand and interest from consumers in cryptocurrency.<\/p>\n

The SEC asserts that Nvidia \u201cdeprived investors of critical information to evaluate the company\u2019s business in a key market\u201d, due to the company \u201ccreating the impression that its gaming business was not significantly affected by cryptomining.\u201d As a result, the company has been found to be in violation of the Securities Act of 1993 and the disclosure provisions of the Securities Exchange Act of 1934.<\/p>\n

A fine of $5.5 million may seem large at first, but considering that Nvidia generates billions of dollars of revenue each passing financial quarter, it\u2019s safe to say the company\u2019s finances will be largely unfazed by this.<\/p>\n

However, it remains unclear how the SEC\u2019s findings will (if at all) affect the company\u2019s relationship with shareholders and conversely the prices of its shares.<\/p>\n<\/p><\/div>\n

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Nvidia has received a fine of $5.5 million from the U.S. Securities and Exchange Commission (SEC), for failing to disclose the impact of crypto mining on the sale of its GeForce GPUs. The company has neither admitted nor denied the charges, and has agreed to a cease-and-desist order in addition to paying the penalty in […]<\/p>\n","protected":false},"author":3,"featured_media":16795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.pcgamesn.com\/wp-content\/uploads\/2022\/05\/nvidia-fined-5-million-for-downplaying-crypto-GPU-business.jpg","fifu_image_alt":"","footnotes":""},"categories":[571],"tags":[],"class_list":["post-16794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pc"],"yoast_head":"\n