The SEC Has Issued a Fresh Subpoena to the Bitcoin Miner Marathon

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Last Updated on May 11, 2023 by Bitfinsider

The U.S.-based bitcoin mining company Marathon Digital announced on Wednesday that it received a new subpoena from the Securities and Exchange Commission in connection with an ongoing investigation involving a Montana facility.

The SEC may be investigating possible violations of federal securities law, according to a filing made on May 10. Marathon asserts that it is collaborating with the agency. The news was first reported by Bloomberg.

The SEC issued the initial subpoena to Marathon in November 2021.

“On October 6, 2020, the Company engaged into a series of contracts with multiple parties to design and construct a 100-megawatt data centre in Hardin, Montana. Consequently, the Company filed a Current Report on Form 8-K on October 13, 2020, the company announced 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.”

The most recent subpoena was issued on April 10, according to the filing made today.

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