US securities regulators say Nvidia knew cryptocurrency miners had been eating into sales of graphics cards meant for gaming but had illegally withheld that fact from investors who repeatedly asked about crypto mining's impact on Nvidia's gaming segment
For years, video gamers have blamed shortages of PC graphics cards on cryptocurrency enthusiasts, who have snapped up growing numbers of the devices to generate digital coins. The pandemic, along with the Trump administration's tariffs on Chinese imports, have only made the situation worse, leading to skyrocketing retail and aftermarket prices.
Now, US securities regulators say the graphics card giant Nvidia knew cryptocurrency miners had been eating into sales of cards meant for gaming — and thus potentially contributing to supply issues — but had illegally withheld that fact from investors who repeatedly asked about crypto mining's impact on Nvidia's gaming segment. In a cease-and-desist order on Friday, the Securities and Exchange Commission said Nvidia would pay $5.
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