Crypto miner Marathon Digital has disclosed that it has received a second subpoena from the (SEC) regarding its data center in Hardin, Montana.
The subpoena is related to transactions with related parties during the creation of the facility, and Marathon Digital is cooperating with the SEC’s investigation. This is the second subpoena the company has received, with the first one issued in the third quarter of 2021.
In a separate development, Marathon Digital has announced a partnership with digital assets infrastructure company Zero Two to establish a large-scale immersion Bitcoin mining facility in Abu Dhabi.
This move comes in the wake of the Biden administration’s proposed tax targeting crypto miners, which would require them to pay a 30% tax on electricity costs associated with mining activities.
Despite the regulatory challenges and potential financial implications, Marathon Digital is determined to expand its mining operations and drive innovation in the crypto mining industry.
Marathon Digital SEC
In conclusion, Marathon Digital’s receipt of a second subpoena from the SEC highlights the ongoing scrutiny of its data center operations. However, the company’s cooperation with the investigation demonstrates its commitment to compliance with securities laws. Additionally, the partnership with Zero Two in Abu Dhabi reflects Marathon Digital’s determination to navigate the evolving regulatory landscape and expand its presence in the crypto mining industry, despite the proposed tax targeting miners.