SEC issues new subpoena to bitcoin miner Marathon

Quick Take

  • Marathon Digital, a U.S.-based bitcoin mining firm, disclosed a new subpoena from the U.S. Securities and Exchange Commission.
  • The firm indicated that the subpoena relates to its mining facility in Hardin, Montana and that the SEC “may be investigating whether or not there may have been any violations of the federal securities law.”
  • Marathon says it is cooperating with the SEC. 

Marathon Digital, a U.S.-based bitcoin mining firm, said Wednesday that it received a new subpoena from the Securities and Exchange Commission regarding an ongoing investigation tied to a facility in Montana. 

According to its May 10 filing, the SEC "may be investigating whether or not there may have been any violations of the federal securities law," per the filing. Marathon says it is cooperating with the agency. Bloomberg first reported the news.

Marathon received an initial subpoena from the SEC in November 2021. 

"On October 6, 2020, the Company entered into a series of agreements with multiple parties to design and build a data center for up to 100-megawatts in Hardin, MT. In conjunction therewith, the Company filed a Current Report on Form 8-K on October 13, 2020," the firm said today. "The 8-K discloses that, pursuant to a Data Facility Services Agreement, the Company issued 6,000,000 shares of restricted Common Stock, in transactions exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended."

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