{"id":20826,"date":"2023-05-11T20:27:46","date_gmt":"2023-05-11T20:27:46","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-miner-marathon-receives-second-sec-subpoena-in-connection-to-montana-mining-facility-investigation-bitcoin-news\/"},"modified":"2023-05-11T20:27:46","modified_gmt":"2023-05-11T20:27:46","slug":"bitcoin-miner-marathon-receives-second-sec-subpoena-in-connection-to-montana-mining-facility-investigation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-miner-marathon-receives-second-sec-subpoena-in-connection-to-montana-mining-facility-investigation-bitcoin-news\/","title":{"rendered":"Bitcoin Miner Marathon Receives Second SEC Subpoena in Connection to Montana Mining Facility Investigation \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Marathon Digital Holdings, a publicly-listed bitcoin mining company, has recently revealed that it was served with a subpoena by the U.S. Securities and Exchange Commission (SEC) in relation to an investigation concerning the firm\u2019s Montana mining facility. The SEC is reportedly looking into potential violations of federal securities law.<\/strong><\/p>\n

Marathon\u2019s Montana Mining Facility Under SEC Investigation, Company Receives Second Subpoena<\/h2>\n

Marathon Digital Holdings (Nasdaq: MARA<\/a>) was served with a second subpoena on April 10, 2023, following a previous subpoena in October 2020. The company disclosed the news in its May 10 SEC filing<\/a>, revealing that it has now received a total of two subpoenas.<\/p>\n

According to the filing, the subpoena requires the company and certain executives to produce documents and communications related to the Hardin, Montana data center facility, which was previously described in a Form 8-K dated October 13, 2020. Marathon said it is fully cooperating with the investigation, and will provide the requested information to the SEC.<\/p>\n

\u201cThe company received an additional subpoena from the SEC on April 10, 2023, relating to, among other things, transactions with related parties,\u201d Marathon added. \u201cWe 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.\u201d<\/p>\n

Marathon\u2019s subpoena comes on the heels of the company\u2019s announcement of a partnership with Abu Dhabi-based Zero Two. The two firms are planning to build two large-scale immersion-cooled crypto-mining facilities. However, the company\u2019s shares have taken a hit, with a 5.14% drop in the past day and a 6.78% decline over the last five days against the U.S. dollar. Despite the recent drop, Marathon\u2019s stock has been performing well this year, with a 184.41% increase in 2023.<\/p>\n

What impact will the SEC investigation have on Marathon Digital Holdings\u2019 future business operations and stock performance? Share your opinions about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, g0d4ather \/ Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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