It is common knowledge that to mine cryptocurrencies requires a powerful processing chip (GPU), and talking about it is definitely a graphics card released by Nvidia to be a mention.
Most recently, Nvidia Corporation was fined US $ 5.5 million for failing to address the impact of crypto mining on its core gaming business.
The allegations were filed by the United States (US) Securities and Exchange Commission (SEC) after finding that Nvidia failed to disclose that crypto mining was an ‘essential element’ that contributed to the company’s revenue growth.
As is known, Nvidia's chips have been designed for the purpose of graphics games, so indirectly it also focuses on crypto mining as this device is the choice of most miners (miners).
Sequence from that, the SEC is entitled to impose fines or civil penalties on any company that fails to present their way of doing business, in this case Nvidia and crypto mining.
Turning to Nvidia, the California -based technology company is said to have agreed to pay the $ 5.5 million civil penalty without acknowledging or denying the SEC's allegations.
So far there has been no further statement by the company on the payment.
Looking back at 2018, Nvidia's chips are very popularly used in crypto mining activities, which is the process of obtaining crypto rewards in exchange for confirming transactions on the ledger.
According to SEC regulators, Nvidia was aware of the matter but chose to remain silent and refused to share information with investors.
