Nvidia to pay $5.5 million fine for crypto mining

As one of the world’s largest technology companies, Nvidia continues to earn huge revenues from GPU sales since the start of crypto mining. The US Securities and Exchange Commission (SEC) has announced that it has fined Nvidia $5.5 million for not providing enough information on crypto revenues.

Accused of making insufficient disclosure

Finding that Nvidia’s gaming division experienced a large revenue increase in 2018 quarter revenues, but did not provide any information to its shareholders about the mining sales that contributed to this increase, the SEC said the investors of the situation He said it could lead to uncertainty and, as a result, to bad investments.

by SEC The company, which avoided giving any answer to the findings collected in the research conducted, agreed to pay a fine of $ 5.5 million. We can say that the penalty is quite small for Nvidia, which reported a revenue of $ 7.6 billion in the first quarter of 2022.