Cryptocurrencies are extremely volatile and the U.S Securities and Exchange Commission said Friday that the Santa Clara company did not disclose to investors in 2018 the potential future risks of such sales.
"Nvidia's disclosure failures deprived investors of critical information to evaluate the company's business in a key market," said Kristina Littman, Chief of the SEC Enforcement Division's Crypto Assets and Cyber Unit.
Cryptominers are compensated for verifying crypto transactions. As the crypto craze began to spread in 2017, Nvidia's graphics processing units that were designed and marketed for gaming were increasingly used by Nvidia's customers to mine cryptocurrency, according to the SEC. "These significant earnings and cash flow fluctuations related to a volatile business for investors to ascertain the likelihood that past performance was indicative of future performance," the SEC said.
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