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Bitcoin (BTC) mining firm Marathon Digital has received additional subpoenas from the U.S. Securities and Exchange Commission (SEC) for allegedly violating securities laws.
The violations mentioned in the subpoena relate to a mining facility built by Marathon Digital in Hardin, Montana in 2020.
That same year, Marathon Digital issued 6 million new shares in an “exempt from registration” transaction under the Securities Act to fund the construction of a mining facility.
It is these transactions that the SEC is currently requesting more information from.
Receipt of the new subpoena was confirmed by Marathon Digital at the SEC. filing The company said Wednesday it “understands that the SEC may be investigating whether there have been violations of federal securities laws.”
“We are cooperating with the SEC,” the company added.
The new subpoena follows Marathon Digital, some of whose executives have been served a subpoena by the SEC in 2021 “to file documents and correspondence” regarding their Hardin, Montana facility. received for the first time.
New mining facility in Abu Dhabi
The news of the additional subpoena comes after Marathon Digital announced this Tuesday that it plans to build the “largest ever” bitcoin mining data center in the Middle East through a joint venture with blockchain and digital asset infrastructure developer ZeroTwo. Announced.
The newly formed Abu Dhabi Global Markets joint venture will initially develop and operate two mining sites, which will use immersion cooling to produce “the world’s most technologically advanced and energy It will be one of the most efficient digital asset mining operations.”