Nvidia agrees to pay $5.5M penalty over impact of crypto mining
Nvidia failed to disclose that crypto mining impacted the sale of gaming chips
By Yashasvini Razdan
Published - May 06, 2022, 11:15 PM ET
Last Updated - Feb 26, 2024, 02:06 PM EST
Nvidia Corp (NASDAQ: NVDA) has agreed to pay a $5.5 million penalty for failing to adequately disclose the impact of crypto mining on the company’s gaming business.
A Securities and Exchange Commission (SEC) filing stated that the company failed to disclose that crypto mining was a significant element of its material revenue growth from the sale of its gaming chips, during consecutive quarters in NVIDIA’s fiscal year 2018.
The firm, which did not admit or deny the SEC's findings, agreed to pay a civil penalty of $5.5 million.
Impact of non-disclosure
