{"id":8039,"date":"2023-05-12T23:06:57","date_gmt":"2023-05-13T03:06:57","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/marathon-digital-served-with-additional-sec-subpoena-for-alleged-violations\/"},"modified":"2023-05-12T23:06:58","modified_gmt":"2023-05-13T03:06:58","slug":"marathon-digital-served-with-additional-sec-subpoena-for-alleged-violations","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=8039","title":{"rendered":"Marathon Digital Served with Additional SEC Subpoena for Alleged Violations"},"content":{"rendered":"<div>\n<p>Bitcoin (BTC) mining firm Marathon Digital has been served with an additional subpoena by the US Securities and Exchange Commission (SEC) over alleged securities laws violations.<\/p>\n<p>The violations referred to in the subpoena are related to a mining facility built by Marathon Digital in Hardin, Montana in 2020.<\/p>\n<p>To fund the construction of the mining facility, Marathon Digital the same year issued 6 million new shares in transactions that it says were \u201cexempt from registration\u201d under the Securities Act.<\/p>\n<p>It is these transactions that the SEC is now demanding more information about.<\/p>\n<p>The receipt of the new subpoena was confirmed by Marathon Digital in an SEC filing on Wednesday, with the firm saying they \u201cunderstand that the SEC may be investigating whether or not there may have been any violations of the federal securities law.\u201d<\/p>\n<p>\u201cWe are cooperating with the SEC,\u201d the firm added.<\/p>\n<p>The new subpoena comes after Marathon Digital and some of its executives were first served with an SEC subpoena in 2021 \u201cto produce documents and communications\u201d regarding its Hardin, Montana facility.<\/p>\n<h2>New Abu Dhabi mining facilities<\/h2>\n<p>The news of the additional subpoena comes after Marathon Digital on Tuesday this week announced plans to build \u201cthe largest-ever\u201d Bitcoin mining data center in the Middle East through a joint venture with Zero Two, a blockchain and digital assets infrastructure development company.<\/p>\n<p>The newly formed Abu Dhabi Global Markets JV Entity will develop and operate two mining sites to begin with, with the sites said use immersion cooling to become \u201camong the most technologically advanced and energy-efficient digital asset mining operations globally.\u201d<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/marathon-digital-served-with-additional-sec-subpoena-for-alleged-violations.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) mining firm Marathon Digital has been served with an additional subpoena by the US Securities and Exchange Commission (SEC) over alleged securities laws violations. The violations referred to in the subpoena are related to a mining facility built by Marathon Digital in Hardin, Montana in 2020. To fund the construction of the mining [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8040,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-8039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Marathon Digital Served with Additional SEC Subpoena for Alleged Violations | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) mining firm Marathon Digital has been served with an additional subpoena by the US Securities and Exchange Commission (SEC) over alleged\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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