Nvidia Fined $5.5 Million , for Not Properly Disclosing Sales to Crypto Miners.<br />IGN reports that on May 6, the <br />U.S. Securities and Exchange Commission (SEC)... .<br />... announced Nvidia has been fined for <br />"inadequate disclosures" pertaining to the amount of <br />graphics cards that were purchased by crypto miners.<br />The SEC says Nvidia didn't reveal that crypto mining was "a significant element of its material revenue growth" for the 2018 fiscal year.<br />The SEC says Nvidia didn't reveal that crypto mining was "a significant element of its material revenue growth" for the 2018 fiscal year.<br />NVIDIA’s disclosure failures deprived investors of critical information to evaluate the company’s business <br />in a key market, Kristina Littman, Head of SEC's Crypto Assets and Cyber Unit, <br />via press release.<br />All issuers, including those that pursue opportunities involving emerging technology, must ensure that their disclosures are timely, complete, and accurate, Kristina Littman, Head of SEC's Crypto Assets and Cyber Unit, <br />via press release.<br />IGN reports that there was a gaming GPU shortage in 2018 because of the high demand by crypto miners.<br />When there was another GPU shortage <br />in 2020, IGN reports Nvidia released <br />CMP graphics cards for crypto mining. .<br />While the gaming GPU supply has seemingly improved lately, prices are still inflated.<br />The Verge reports that as part of the <br />SEC settlement, the company agrees to <br />properly disclose information in the future.<br />But Nvidia hasn't admitted to any <br />wrongdoing as part of the SEC's initial charges
