NVIDIA pays $5.5 million to settle SEC charges over GPU sales to crypto miners

Stefan Mileschin · 9th May 2022, 08:19

It's no secret these days that GPU makers profited from the early cryptocurrency mining boom, but NVIDIA is now facing some repercussions as a result. The company is paying $5.5 million to settle US Securities and Exchange Commission charges it failed to disclose that crypto mining played a "significant" role in its surging revenue from GPU sales throughout fiscal 2018. NVIDIA allegedly violated both the Securities Act and Securities Exchange Act when it didn't reveal that its success was tied to a "volatile business," potentially misleading investors who might have thought this was the result of the firm's usual gaming-focused strategy.

https://www.engadget.com/nvidia-sec-...1.html?src=rss

9th May 2022, 08:19	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,797	NVIDIA pays $5.5 million to settle SEC charges over GPU sales to crypto miners It's no secret these days that GPU makers profited from the early cryptocurrency mining boom, but NVIDIA is now facing some repercussions as a result. The company is paying $5.5 million to settle US Securities and Exchange Commission charges it failed to disclose that crypto mining played a "significant" role in its surging revenue from GPU sales throughout fiscal 2018. NVIDIA allegedly violated both the Securities Act and Securities Exchange Act when it didn't reveal that its success was tied to a "volatile business," potentially misleading investors who might have thought this was the result of the firm's usual gaming-focused strategy. https://www.engadget.com/nvidia-sec-...1.html?src=rss

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