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Bitcoin (BTC) miner Marathon Digital has announced that it has received another subpoena from the US Securities and Exchange Commission (SEC) regarding its 100-megawatt data center in Hardin, Montana.
According to Marathon’s Quarterly Report filed May 10, the company received a subpoena on April 10 “related to, among other things, transactions with related parties” that occurred during the establishment of the Montana facility, adding:
“We understand that the SEC may be investigating whether any violations of federal securities law may have occurred. We are cooperating with the SEC.”
The subpoena is the second subpoena Marathon has received regarding the facility, as it also received a subpoena at the end of the third quarter of 2021 in which the SEC ordered the firm to provide a number of related documents and communications.
@SECGov has issued another subpoena to Marathon Digital.
Marathon Digital is a US based #Bitcoin mining firm.
The subpoena relates to an ongoing investigation tied to the Marathon Digital facility in Montana.
Marathon said that #SEC may be investigating whether or not there have…
— CryptoSmind (@SmindCrypto) May 11, 2023
A Marathon spokesperson declined to comment further.
Related: Bitcoin ‘under siege’ by BRC-20 coins as fees rise, analyst claims
On May 9, Marathon announced a partnership with digital asset infrastructure company Zero Two to build a large-scale immersive Bitcoin mining facility in Abu Dhabi.
The facility will consist of two mining shafts with a total capacity of 250 megawatts, and Marathon noted that while mining in Abu Dhabi is not normally possible, its “special immersion solution” will be enough to keep the mining rigs cool.
The announcement comes just two months after the Biden administration proposed a new tax on U.S.-based cryptocurrency miners that would require them to pay a 30% tax on the cost of any electricity used in cryptocurrency mining.