The US Securities and Exchange Commission (SEC) targeted NVIDIA for not mentioning enough about the impact of crypto mining on graphics cards.
The regulator said in a statement that NVIDIA did not provide much detail about its sales of crypto hardware.
“NVIDIA customers increasingly used GPUs made for games for crypto mining”
Although the tech giant reports significant growth for the gaming industry, the SEC has The reason for the increase was largely related to the crypto mining industry and accused the company of hiding this information.
NVIDIA Agreed with SEC
Graphics card manufacturer NVIDIA responded to this statement of the SEC in a short time. The company agreed to pay a $5.5 million fine without admitting or denying the charges.
The SEC has been scrutinizing NVIDIA for some time now. In 2020, a group of investors sued the company, accusing it of not sharing information about sales openly. But the district court in California ruled in NVIDIA’s favor because there was not enough evidence.
