The US Securities and Exchange Commission (SEC) said Nvidia (NVDA) failed to disclose that. Cryptocurrency Mining Cryptocurrency plays a big part in 2018 earnings.
In two of Nvidia’s Form 10-Qs for fiscal 2018, Nvidia reported a significant increase in revenue within its gaming business, according to the SEC in a statement.press release However, the agency went on to say that Nvidia was aware – but refused to disclose to investors – that a significant portion of its sales increase was driven by crypto mining.
“NVIDIA’s neglect of material information about the growth of its gaming business is misleading. And it can be seen that the company’s gaming business is not significantly affected by crypto mining.”
Nvidia will have to pay $5.5 million in fines to settle SEC allegations.
When viewing the latest information Earnings from mining processors Nvidia’s cryptocurrency (CMP) fell to $24 million in the fiscal fourth quarter ended Jan. 30, down 77% from 105 million dollarsin the previous quarter
The post Nvidia Failed To Reveal The Impact On Crypto Mining Revenue In 2018 appeared first on Bitcoin Addict.