The American mining company Marathon Digital received another subpoena. And again at the initiative of the US Securities and Exchange Commission (SEC). The regulator believes that the firm violated some provisions of the securities law in the third quarter of 2021.
In its filing, the SEC alleges that Marathon has entered into “a series of agreements with multiple parties to design and build a 100 MW data center in Hardin, Montana.” The company filed Form 8-K, which notes that it issued 6 million restricted shares in transactions that were exempt from registration.
Marathon received the summons on April 10. The company claims to be cooperating with the SEC in its investigation: “We understand that the SEC may investigate whether there have been any violations of federal securities law. We are cooperating with the SEC.”
@SECGov has issued another subpoena to Marathon Digital.
Marathon Digital is a US based #Bitcoin mining firm.
The subpoena relates to an ongoing investigation tied to the Marathon Digital facility in Montana.
Marathon said that #SEC may be investigating whether or not there have…
— CryptoSmind (@SmindCrypto) May 11, 2023
Marathon Digital received its first lawsuit from the SEC back in November 2021.
Marathon Digital is one of the few miners on the market that has successfully survived the crypto winter. In March, the company mined a record amount of BTC.
Marathon Digital has become one of the most successful mining companies on the market. Having successfully survived the crypto winter, Marathon Digital mined a record amount of bitcoins in March.
On May 9, Marathon and Zero Two announced a new project focused on the Middle East. The parties plan to launch a mining complex in Abu Dhabi of two sites with a capacity of 250 MW by the end of this year. Excess electricity from the city’s networks will be used to power the facility. The parties expect that the complex will reach the specified capacity of 7 EH / s by the end of this year.
The announcement comes just two months after the Biden administration proposed a new tax on US miners. A horse tax of 30% will need to be paid on the cost of any electricity used in the mining of cryptocurrencies.
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