The US Securities and Exchange Commission (SEC) fined NVIDIA $ 5.5 million. for not disclosing in its quarterly profit and loss statements that it received significant income from the cryptocurring sector during fiscal year 2018. In other words, and if it wasn’t clear that NVIDIA hid the proceeds from the sale of graphics to the miners and fined the SEC for it.

Given that the fine corresponds to incorrect or unreported sales for fiscal year 2018, this is not due to the current and protracted crisis of rising prices and lack of graphics, but to the first one, which began in 2017. This is contrary to NVIDIA’s policy before the public when it came to the question that they should stop selling graphics to miners and that players should come first.

The green giant said it had only seen material growth in its video game business, but SEC rules require companies to disclose revenue received from volatile businesses so investors can make informed decisions and determine whether actions taken or taken by the company are really true. about its future performance.

The SEC found out “The omission of essential information from NVIDIA about the growth of its gaming business was misleading, as NVIDIA made a statement about how other parts of the company’s business were driven by the demand for cryptocurrencies, which gave the impression that the gaming business was not significantly affected by cryptocurrency mining.“. These SEC statements show NVIDIA’s double game, which apparently took advantage of the juicy mining business while facing the gallery, saying players are a priority.

The first crisis caused by cryptocurrency mining erupted in 2017, when a large number of dedicated graphics began to accumulate in the sector, which eventually inflated prices, in such a way that in early 2018 we saw the RX 580 come in costing more than $ 400. which is a completely indecent amount for a middle class product and greater public visibility that it should be targeted at. NVIDIA said in February 2018 that it had record sales of $ 2.91 billion in the fourth quarter of last year, an increase of 34%. At the time, Bitcoin was approximately $ 9,500.

If NVIDIA agreed to pay the fine filed by the SEC, it is logical that the US regulator has strong evidence that the company hid the revenues and related revenues generated by the sale of graphics cards to miners. At the end of the day, these are businesses and companies looking for maximum profit.