The Securities and Exchange Commission charged NVIDIA with inadequate disclosures regarding the role of crypto mining in the company’s gaming business.
Nvidia
The release states that NVIDIA included its revenue from GPU sales to crypto miners as part of its gaming business, but the company did not reveal that its “increase in gaming sales was driven in significant part by cryptomining” in its Forms 10-Q, as required by SEC. Kristina Littman, Chief of the SEC Enforcement Division’s Crypto Assets and Cyber Unit, argued that NVIDIA’s failure to disclose critical information had deprived investors of the opportunity to evaluate its performance fairly. She stated:“All issuers, including those that pursue opportunities involving emerging technology, must ensure that their disclosures are timely, complete, and accurate.
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