Nvidia Fined $5.5 Million For Covering Up How Crypto Miners Boosted Its Profits
The U.S. Securities and Exchange Commission has now penalized graphics card manufacturer Nvidia $5.5 million for failing to disclose to investors how much of its 2017-2018 revenue comes from cryptocurrency miners. Friday, the SEC confirmed the charges and settlement with the company. In its ruling, the agency asserts that Nvidia misled investors by declaring a […]
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The U.S. Securities and Exchange Commission (SEC) has charged Nvidia Corp. for failing to disclose that crypto mining significantly boosted its revenue. The company agreed to a cease-and-desist order and to pay a $5.5 million penalty. Nvidia Failed to Disclose That Crypto Mining Was a Significant Element of Its Material Revenue Growth The U.S. Securities and Exchange Commission (SEC) announced settled charges against technology company Nvidia Corporation Friday “for inadequate disclosures concerning the impact of cryptomining on the company’s gaming business.” The....
Nvidia's crypto mining product line sales are expected to decline to “very negligible” in the fourth quarter. Although digital currencies have skyrocketed in value throughout the year, Nvidia has not made any significant profits from its cryptocurrency mining processor (CMP) line.According to Nvidia's third fiscal quarter report, the company's CMP sales dropped by 60% sequentially in the most recent quarter, with sales of the product line expected to drop even further in the fourth quarter.In its quarterly financial statement, Nvidia said CMP sales fell from $266 million in the second....
With the new NBMiner update, Ethereum miners can unlock up to 70% of Nvidia RTX 30 LHR version GPU mining hashrate. NBMiner Update Unlocks Nvidia RTX 30 LHR Cards Mining Performance Earlier in the year, Nvidia released the Lite Hash Rate (LHR) series for their RTX 30 cards. With this revision, miners could only use […]
Nvidia RTX 3060 GPUs are going for as low as $270 as crypto miners in China dump their cards on the used market amidst the nation’s Bitcoin crackdowns. Cheap Used Nvidia RTX GPUs Flood The Chinese Market As Miners Dump As China continues cracking down on Bitcoin and mining in the country, some miners have […]
Nvidia released its earnings for the third fiscal quarter of 2021 this week, showing better-than-expected results, driven by sales of its graphics processing unit (GPU) chips. The firm reported graphics segment revenue of $2.79 billion for the quarter, beating analyst estimates of $2.1 billion. Within the graphics segment also falls the gaming division. Nvidia said that its new line of graphics cards based on a new technology called Ampere drew strong interest from computer and videogame console developers. For example, one of the new models, the Geforce RTX 3080, went on sale in September....