Skip to content

Mobile and web technologies

New technologies in everyday accessibility

  • Home
  • Mobile technologies
  • Web technologies
  • Contact
  • Home
  • 2022
  • June
  • 14
  • Nvidia to Pay $5.5 Million Fine for Lack of Crypto Mining Disclosures

Nvidia to Pay $5.5 Million Fine for Lack of Crypto Mining Disclosures

Posted on 14.06.2022By MobiletechNo Comments on Nvidia to Pay $5.5 Million Fine for Lack of Crypto Mining Disclosures
Web technologies

Nvidia will pay a $5.5 million fine to settle Security and Exchange Commission charges that it failed to adequately disclose how much of its gaming business’ sales were actually related to crypto mining.

According to the SEC, Nvidia failed to state in a pair of quarterly reports for its 2018 fiscal year that sales related to crypto mining accounted for a significant part of the jump in demand for its graphics processing units, which were originally designed and marketed for gaming.

As part of the settlement with the SEC, Nvidia didn’t admit or deny the findings. The company didn’t immediately return an email from CNET seeking comment.

GPUs — used for PC gaming, video editing and other graphics-intensive activities — became hard to track down starting a few years ago as the price of key crypto currencies reached new highs. The cryptocurrencies are mined using powerful computers, often equipped with multiple GPUs.

In response, Nvidia last year halved the hash rate of several of its graphics card models, making their GPUs less efficient for crypto mining. It also launched new products that are optimized for mining, with features designed to improve power efficiency and airflow, but that don’t do graphics. 

In its Friday order, the SEC claims that Nvidia knew back in 2018 that its gaming sales growth was was actually being driven by potentially more volatile crypto mining demand, but it didn’t disclose that as required.

The SEC also says that information Nvidia did give about the growth of its gaming business was “misleading,” given that the company did make statements about how other parts of its business were driven by demand for crypto mining. That created a perception that its gaming business wasn’t significantly affected by crypto mining, the SEC says.

Post navigation

❮ Previous Post: Microsoft Unveils Early Preview of Xbox Controller Bar for PC Gamers
Next Post: The Best Gear for Online Classes or Meetings in 2022: Webcams, Lights, Mics, Tripods and More ❯

You may also like

Web technologies
Apple silicon-powered Macs: What to expect – Video
04.09.2022
Web technologies
Apple’s iPad Mini sees a big upgrade: Support for USB-C charging
19.07.2022
Web technologies
Microsoft debuts Halo Infinite gameplay At its Xbox Games Showcase Thursday, Microsoft reveals a first look at Halo Infinite for the Xbox Series X. It will be available holiday 2020.
03.09.2022
Web technologies
Want to use a VPN in Windows 10? Here’s the best way to set it up
28.06.2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Fresh Records

  • Samsung Galaxy S23 vs Galaxy S23 Ultra: expectations
  • Oppo Find N2 vs Samsung Galaxy Z Fold 4: new foldable phone wants to dethrone the king
  • Galaxy S23 Plus vs Galaxy S23: What to expect
  • Samsung Galaxy S23 Plus vs Galaxy S23 Ultra: all differences to expect
  • Samsung Galaxy S23 Ultra vs OnePlus 11: what to expect

Fresh Comments

No comments to show.

Archives

  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022

Headings

  • Mobile technologies
  • Web technologies

Copyright © 2023 Mobile and web technologies.

Theme: Oceanly News by ScriptsTown

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT