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SEC Targets Bitcoin Miner Marathon in Latest Action Against The Industry

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The SEC with another subpoena for Marathon Digital (MarathonDH)! The US regulator is investigating whether there have been any securities law violations in the company's Montana data center. Read more here:

Bitcoin mining firm Marathon Digital Holdings has received another subpoena from the SEC. The summons is in relation to its Montana data center, which the regulator claims may have violated securities laws.

“We understand that the SEC may be investigating whether or not there may have been any violations of the federal securities law,” it stated. The firm did admit to finding “accounting errors” in financial statements following scrutiny by the SEC,The financial regulator is leaving no stone unturned in its relentless attack on the crypto industry. However, it is unclear how a Bitcoin mining company can fall afoul of securities laws.a net loss of $7.2 million, or $0.05 per share, during the first fiscal quarter of 2023. This is lower than the $12.9 million net loss it reported in Q1, 2022.

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Bitcoin Miner Marathon First-Quarter Earnings Beat Estimates as SEC Extends ProbeBitcoin miner MarathonDH beat analyst earnings and revenue estimates for Q1 as production increased, but it has received another subpoena from SECGov for related party transactions. egreechee reports.
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