Bitcoin miner Marathon Digital hit with another SEC subpoena


Bitcoin (BTC) miner Marathon Digital has disclosed that it obtained one other subpoena from america Securities and Trade Fee regarding its 100-megawatt knowledge middle in Hardin, Montana.

In keeping with Marathon’s quarterly report filed Could 10, it obtained the subpoena on April 10 “regarding, amongst different issues, transactions with associated events” that occurred whereas it was creating the ability in Montana, including:

“We perceive that the SEC could also be investigating whether or not or not there could have been any violations of the federal securities legislation. We’re cooperating with the SEC.”

The subpoena is the second one received by Marathon relating to the ability. It additionally obtained one late within the third quarter of 2021 wherein the SEC ordered the agency to supply a lot of associated paperwork and communications.

A Marathon spokesperson declined to offer any further feedback.

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On Could 9, Marathon introduced that it had partnered with digital property infrastructure firm Zero Two to create a large-scale immersion Bitcoin mining facility in Abu Dhabi.

The power would encompass two mining mines with a mixed 250-megawatt capability, and Marathon famous that whereas mining in Abu Dhabi would usually be infeasible, its “custom-built immersion resolution” can be enough to make sure the mining rigs remained cool.

The announcement got here simply two months after the Biden administration proposed a new tax for crypto miners working within the U.S., which might require them to pay a tax equal to 30% of the price of any electrical energy used whereas mining for crypto.

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