Nvidia pays $5.5m SEC fine over crypto-mining disclosures

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Nvidia Corp. has agreed to pay federal securities regulators a $5.5 million penalty over allegations that the chipmaker failed to adequately disclose revenue from crypto mining. Nvidia had previously disclosed in its annual report that it generated $151 million in revenue from crypto mining in fiscal 2017, but failed to update that figure in its 2018 report. The Securities and Exchange Commission said that Nvidia failed to "fully inform" investors about how rapidly the cryptocurrency market was evolving, and how that was impacting its business. In a statement, Nvidia said it "neither admits nor denies the SEC's findings." The SEC's penalty is the latest fallout from the volatile market for cryptocurrencies, which has seen prices tumble this year after a massive run-up in 2017.

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