Miner Marathon Digital reported about subpoena from the US Securities and Exchange Commission (SEC) in connection with an investigation at one of the company’s facilities.
According to the document, the regulator finds out whether the company violated “any provisions of the federal securities law.”
The SEC explained that Marathon entered into “a series of agreements with multiple parties to design and build a 100 MW data center in Hardin, Montana.” As part of the deal, the company issued 6 million restricted shares of common stock in transactions that were exempt from mandatory registration.
In November 2021, the miner already received a subpoena from the SEC. Then the Commission demanded that the organization provide documents related to the same object.
When checking the annual report, Marathon found several accounting errors and immediately reported this to the regulator. Representatives of the company added that they “intend to cooperate” with the SEC on this issue.
Marathon Digital (MARA) shares closed at $10.22 on May 10, up nearly 9% overnight, according to Investing.com.
Recall that in the first quarter of 2023, Marathon Digital mined 2195 BTC. This is 41% more than in the previous reporting period. For the whole of 2022, the figure was 4144 BTC.
In May, the company announced plans to build two mining centers in Abu Dhabi with Zero Two.
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