NVIDIA Suspends Million Dollars Fine For Hiding Information About GPU Sales for Crypto Mining

The U.S. Securities and Exchange Commission alleges that the company misled its investors.

We are in a turbulent time in the technology industry. Real chip shortage and electronic components caused a constant struggle for the purchase of consoles and graphics cards, which was further aggravated by the entry of new competitors: cryptocurrency miners. At the time, NVIDIA seemed to be on the gamer’s side with various initiatives and certain limitations on their GPUs, but the green company He also did not miss the opportunity. to scrape quite a lot of benefits.

The fine is $5.5 million.How much money are we talking about? That’s the crux of the matter. According to the latest article in The Verge, the US Securities and Exchange Commission has fined NVIDIA. hide information It’s about profits from selling graphics cards for cryptocurrency mining. In this way, the tech giant will have to pay. $5.5 million For cheating his investors, according to CNMV.

NVIDIA staff see significant growth in gaming graphics card salesAs they recall on The Verge, NVIDIA developed a series of graphics CMP was sold exclusively to crypto miners, leaving the distribution of gaming graphics cards for the use and enjoyment of gamers. However, the Commission claims that “the company’s sales staff, especially in China, report what they believe.” significant increases demand for gaming GPUs as a result of crypto mining”

In addition, NVIDIA did not share the benefits of these sales with shareholders, so they did not know the profit from the distribution of GPUs to crypto miners: “Investors and analysts at NVIDIA were interested in understanding to what extent the revenue of the Department of Gaming of the company was affected by crypto mining and is routinely asked Managers have been briefed on the extent to which increases in Gaming department revenue have been driven by crypto mining during this time.”

At The Verge, they round out the information by remembering that the changing value of cryptocurrencies hinders decision making when it comes to it. investing in a company. After all, NVIDIA’s profits from selling GPUs to crypto miners are not an indication that this trend will continue to increase in the coming years. NVIDIA has agreed to block disclosure errors. does not admit that he did wrong.

Chip shortages continue to wreak havoc on the market. search and obtain It consists of state-of-the-art components and this crisis seems to continue for a long time. And in the world of graphics cards, users have to contend with a crypto mining trend that is driving the conversation on Reddit in 2021.

For more information: NVIDIA, Graphics Cards, GPU and Cryptocurrencies.