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Bitcoin Mining Firm Marathon Digital Holdings Subpoenaed by SEC for Alleged Securities Law Violations

Marathon Digital Holdings, a Bitcoin mining company, has received a subpoena from the SEC related to alleged violations of securities laws. The subpoena, received on April 10, 2023, is related to transactions with related parties and the SEC may be investigating whether there were any violations of federal securities law. Marathon is cooperating with the SEC on the matter, which relates to its data center facility in Montana. The company has also released its Q1 2023 financial results, recording a net loss of $7.2 million and producing a record 2,195 Bitcoin in the quarter.

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