--- title: "Inadequate Disclosures would cost to pay $5.5 million SEC Penalty for Nvidia About Cryptomining" description: "Nvidia Corporation will pay $5.5 million for the nondisclosure about crypto mining to US Securities and Exchange Commission (SEC) said Friday." author: "Sanjay Goenka" published: 2022-05-09 canonical: https://www.mindstick.com/news/1617/inadequate-disclosures-would-cost-to-pay-5-5-million-sec-penalty-for-nvidia-about-cryptomining category: "cryptocurrency" tags: ["technology", "technology news", "crypto exchange", "cryptocurrency"] reading_time: 2 minutes --- # Inadequate Disclosures would cost to pay $5.5 million SEC Penalty for Nvidia About Cryptomining **Nvidia** will pay a **$5.5 million** SEC penalty for ‘Inadequate Disclosures about **crypto mining**. The Platform agreed to pay a penalty to settle civil charges that the [technology](https://www.mindstick.com/articles/13005/the-functional-aspects-of-laser-technology) firm did not properly disclose the impact of crypto mining. ## Highlights ``` Technology Firm not accepted nor denied the SEC’s findings The regulatory body alleged Nvidia for not sharing info with investors Such omissions misled investors and analysts ``` **Also Read: [Nvidia Canceling Its $40 - Billion Arm Acquisition: Report](https://www.mindstick.com/news/1301/nvidia-canceling-its-40-billion-arm-acquisition-report)** A [Technical](https://www.mindstick.com/articles/12830/a-look-at-the-technical-features-and-specifications-of-type-c-hub) Firm Nvidia has agreed to pay the amount of $5.5 million to settle civil charges for not disclosing the impact of crypto mining on its gaming business, the detail and fact said by the US **Securities and Exchange [Commission](https://answers.mindstick.com/qa/62212/who-has-been-elected-as-the-first-female-president-of-the-european-commission)** (SEC) on Friday. During fiscal 2018, in back-to-back quarters, Nvidia failed to disclose the primary element of its [revenue growth](https://www.mindstick.com/blog/304632/unlock-revenue-growth-with-these-marketing-strategies) was crypto mining and the sales of chips designed for gaming, the SEC regulators said in its charging order. The company Nvidia [became popular](https://answers.mindstick.com/qa/42484/what-kind-of-films-and-radio-programs-became-popular-during-the-great-depression) in 2018 for crypto mining which is the process of obtaining crypto rewards in exchange for verifying [transactions](https://www.mindstick.com/interview/864/explain-acid-rule-of-thumb-for-transactions) on [distributed](https://answers.mindstick.com/blog/43/how-do-you-handle-failures-in-distributed-systems) ledgers, asked SEC. The regulatory agency alleged that company Nvidia knew that information but failed to share it with [investors](https://www.mindstick.com/news/2413/with-collapse-of-ftx-genesis-alerts-investors-to-the-possibility-of-bankruptcy-without-new-funding). **Also Read: [Intel's Crypto Mining Accelerator is 1,000 Times faster than Rivals, Says Top Executive](https://www.mindstick.com/news/1410/intel-s-crypto-mining-accelerator-is-1-000-times-faster-than-rivals-says-top-executive)** --- Original Source: https://www.mindstick.com/news/1617/inadequate-disclosures-would-cost-to-pay-5-5-million-sec-penalty-for-nvidia-about-cryptomining Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.