• Marathon Digital Holdings received a subpoena from the SEC concerning its data center in Montana.
• The company revealed the receipt of the subpoena in a recent filing to the SEC.
• The bitcoin miner sold 1,500 BTC for operational costs and said it plans to increase its stash via production but may buy and sell bitcoin for treasury management purposes.

Marathon Digital Gets SEC Subpoena

Major Bitcoin (BTC) mining company Marathon Digital Holdings received a fresh Subpoena from the US Securities and Exchange Commission (SEC) concerning the company’s data center in Montana, which the regulator is investigating for possible securities laws violation. Marathon Digital revealed that they had received this subpoena in a recent filing with the SEC on April 10th.

Q1 Revenue

Marathon Digital’s filing also detailed their first quarter of 2023 report, showing that their revenue for Q1 2023 was $51,132 slightly lower than the $51,723 generated in Q1 2022. The quarterly report further stated that their entire Bitcoin stash as of March 31st 2023 was 11,466 BTC worth over $314 million at Bitcoin’s current price and produced a total of 2195 BTC in the first quarter of 2023.

Increase Stash Via Production

The firm stated that they plan to increase their stash by production and not through BTC purchases on an open market but may buy and sell Bitcoin from time-to-time separately from what has been outlined above for treasury management purposes. As previously reported by Crypto News, Marathon Digital sold 1,500 BTC for operational costs; this being their first sale since 2019.

Previous Subpoena

Two years ago in September 2021 some executives at Marathon Digital also received a similar subpoena from the SEC demanding documents and communications for the same data center facility when Marathon Digital had first signed an agreement deal with multiple parties back in October 2020 to set up this facility located in Hardin, Montana.

Cooperating With The SEC

Marathon Digital announced they are cooperating with The SEC while they investigate if there have been any violations against federal securities law due to receiving this new subpoena on April 10th and understand that this is why they have been issued it again.

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