American mining company Marathon Digital reported receiving another lawsuit from the U.S. Securities and Exchange Commission (SEC) as part of an investigation into the firm’s operations in Montana.
Marathon Digital received its first lawsuit back in November 2021, and since then, the regulator has been finding more and more violations.
The new subpoena reports that the SEC is “investigating the possibility of violations of federal securities laws.”. Marathon representatives emphasize that the company fully cooperates with the regulator.
“In October 2020, the company held a series of agreements with various parties to design and build a data center with up to 100 MW of capacity in Hardin, Montana.
The company filed a Form 8-K noting that the firm issued 6 million shares in a restricted sale and that the issuance fell within the registration exemptions of the Securities Act of 1933,” the company said in a news release.
It was recently reported that Marathon Digital is planning to build two large-scale mining farms in Abu Dhabi.