In 2021, in the third quarter, the United States SEC issued a subpoena to Bitcoin miner Marathon Digital. The regulator wanted to determine whether the crypto firm may have violated securities laws relating to its data center in Hardin. He therefore ordered him to produce a number of related documents and communications. Now the SEC decides to send another subpoena to the bitcoin (BTC) miner.
Marathon Digital intends to collaborate with the SEC in the new case
Currently, crypto players are worried about the future of mining. Meanwhile, Bitcoin miner Marathon Digital is being subpoenaed by the US SEC yet again. The subpoena relates to the company’s 100-megawatt data center in Hardin, Montana. These are precisely transactions with related parties that took place during the creation of the centre.
The bitcoin (BTC) miner announced the news in its quarterly report filed on May 10. It turns out that the citation was received on April 10. “We understand that the SEC may investigate whether or not there have been violations of federal securities law. We cooperate with the SEC», has explained MarathonDigital. This suggests that the bitcoin miner is bound to respond to the US regulator’s subpoena.
Marathon has deployed a new mining facility
It should be noted that Marathon has most recently partnered with digital asset infrastructure company Zero Two. The two crypto companies have created a large-scale, immersive Bitcoin mining facility. The new center is located in Abu Dhabi and consists of two mining infrastructures. These together have a capacity of 250 megawatts.
According to Marathon Digital, the mining facility in Abu Dhabi would normally be infeasible. On the other hand, hisbespoke immersion solutionwould be enough to keep mining rigs cool.
Marathon Digital reveals its subpoena just two months after a major US government decision. Indeed, the Biden administration has proposed a new tax for crypto miners operating in the United States. If the proposal is validated, miners will have to pay 30% more for the electricity used for crypto mining. The government had made it clear that the new tax aims to “reduce crypto mining activity“.
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