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Bitcoin (BTC) miner Marathon Digital has revealed that it has received another subpoena from the United States Securities and Exchange Commission (SEC) concerning its 100-megawatt data center located in Hardin, Montana.
As stated in Marathon’s quarterly report submitted on May 10, the subpoena was received on April 10 “related to, among other things, transactions with related parties” that took place during the establishment of the facility in Montana, adding:
“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”
This subpoena marks the second one received by Marathon regarding the facility, as the company also received one towards the end of the third quarter of 2021, in which the SEC mandated the firm to produce several related documents and communications.
@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…— CryptoSmind (@SmindCrypto) May 11, 2023
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A representative from Marathon declined to offer any further comments.
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On May 9, Marathon announced a partnership with digital assets infrastructure firm Zero Two to develop a large-scale immersion Bitcoin mining facility in Abu Dhabi.
The facility is set to include two mining sites with a total capacity of 250 megawatts, and Marathon indicated that although mining in Abu Dhabi would typically be impractical, its “custom-built immersion solution” would adequately keep the mining rigs cool.
This announcement followed just two months after the Biden administration suggested a new tax for crypto miners operating in the U.S., which would require them to pay a tax equivalent to 30% of the cost of any electricity consumed while mining for cryptocurrency.
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