Home » Marathon Digital Served with Further SEC Subpoena for Alleged Violations

Marathon Digital Served with Further SEC Subpoena for Alleged Violations

by CoinVeem

SEC constructing. Supply: AdobeStock / Andriy Blokhin

Bitcoin (BTC) mining agency Marathon Digital has been served with a further subpoena by the US Securities and Trade Fee (SEC) over alleged securities legal guidelines violations.

The violations referred to within the subpoena are associated to a mining facility constructed by Marathon Digital in Hardin, Montana in 2020.

To fund the development of the mining facility, Marathon Digital the identical yr issued 6 million new shares in transactions that it says have been “exempt from registration” underneath the Securities Act.

It’s these transactions that the SEC is now demanding extra details about.

The receipt of the brand new subpoena was confirmed by Marathon Digital in an SEC filing on Wednesday, with the agency saying they “perceive that the SEC could also be investigating whether or not or not there might have been any violations of the federal securities regulation.”

“We’re cooperating with the SEC,” the agency added.

The brand new subpoena comes after Marathon Digital and a few of its executives have been first served with an SEC subpoena in 2021 “to provide paperwork and communications” concerning its Hardin, Montana facility.

New Abu Dhabi mining amenities

The information of the extra subpoena comes after Marathon Digital on Tuesday this week introduced plans to construct “the largest-ever” Bitcoin mining data center in the Middle East by way of a three way partnership with Zero Two, a blockchain and digital belongings infrastructure growth firm.

The newly fashioned Abu Dhabi World Markets JV Entity will develop and function two mining websites to start with, with the websites mentioned use immersion cooling to develop into “among the many most technologically superior and energy-efficient digital asset mining operations globally.”

Related Posts

Leave a Comment