A New SEC Subpoena Hits Bitcoin Miner Marathon Digital
The first order was sent to Marathon in the third quarter of 2021. It was about whether or not its Hardin data centre may have broken federal securities laws.
Bitcoin miner Marathon Digital said it got another subpoena from the U.S. Securities and Exchange Commission (SEC) about its 100-megawatt data centre in Hardin, Montana. The subpoena was about the data centre, not about Bitcoin.
According to Marathon’s quarterly report, which was released on May 10, it got the subpoena on April 10 “relating to, among other things, transactions with related parties” that happened while it was building the facility in Montana. The report also said:
“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 Marathon has gotten about the facility. It also got one at the end of the third quarter of 2021, in which the SEC told the company to give them a number of documents and emails related to the facility.
@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…
On May 9, Marathon said that it was working with Zero Two, a business that builds infrastructure for digital assets, to build a large-scale Bitcoin mining facility in Abu Dhabi.
The building would have two 250-megawatt mining mines. Marathon said that mining in Abu Dhabi wouldn’t normally be possible, but that its “custom-built immersion solution” would be enough to keep the mining rigs cool.
The announcement came just two months after the Biden administration suggested a new tax for crypto miners in the U.S. that would require them to pay a tax equal to 30% of the cost of any electricity used while mining for crypto.
