Cryptocurrency

Bitcoin miner Marathon Digital hit with one other SEC subpoena

May 11, 2023
1 minute read

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Bitcoin (BTC) miner Marathon Digital has disclosed that it acquired one other subpoena from the US Securities and Alternate Fee (SEC) referring to its 100-megawatt knowledge middle in Hardin, Montana.

Based on Marathon’s quarterly report filed Could 10, it acquired the subpoena on April 10 “referring to, 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 might have been any violations of the federal securities legislation. We’re cooperating with the SEC”

The subpoena is the second acquired by Marathon relating to the ability, because it additionally acquired one late within the third quarter of 2021 wherein the SEC ordered the agency to provide a variety 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 belongings infrastructure firm Zero Two to create a large-scale immersion Bitcoin mining facility in Abu Dhabi.

The ability 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 answer” can be enough to make sure the mining rigs remained cool.

The announcement got here simply two months after the Biden administration proposed a brand 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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