Bitcoin (BTC) miner Marathon Digital has announced that it has received another subpoena from the United States Securities and Exchange Commission regarding its 100-megawatt data center in Hardin, Montana.
In Marathon’s quarterly report filed on May 10, they revealed that they received the subpoena on April 10, which relates to transactions with related parties that occurred while the facility was being created. The report also states that, “We understand that the SEC may be investigating whether or not there may have been any violations of the federal securities law. We are cooperating with the SEC.”
The subpoena is the second one received by Marathon regarding the facility. It also received one late in the third quarter of 2021 in which the SEC ordered the firm to produce a number of related documents and communications.
Marathon declined to provide any further comments on the matter.
On May 9, Marathon announced a partnership with digital assets infrastructure company Zero Two to create a large-scale immersion Bitcoin mining facility in Abu Dhabi, consisting of two mining mines with a combined 250-megawatt capacity. In light of the Biden administration’s proposal for a new tax for crypto miners operating in the U.S., Marathon noted that its “custom-built immersion solution” would be sufficient for the mining rigs to remain cool and running effectively.
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@SECGov has issued another subpoena to Marathon Digital.
Marathon Digital is a US based #Bitcoin mining firm.
The subpoena relates to ongoing investigation tied to Marathon Digital facility in Montana.
Marathon stated that #SEC may be investigating whether or not there have…
— CryptoSmind (@SmindCrypto) May 11, 2023