In This Article:
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