Hagens Berman urges Marathon Digital Holdings, Inc. investors with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims.
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Marathon Digital Holdings, Inc. (MARA) Investigation:
The investigation focuses on Marathon’s highly publicized plan to build a data management facility in Hardin, Montana to exclusively provide energy for operating Bitcoin mining servers.
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On 2020, Marathon announced it entered into a series of agreements with multiple parties to design and build a data center for up to 100-megawatts in Hardin, and issued 6 million restricted Marathon common shares as part of the deal “in transactions exempt from registration.”
Questions about the Hardin facility agreements came into question on 2021, when Marathon announced that it and certain of its executives received a subpoena from the SEC seeking documents and communications concerning the facility. The company said, “[w]e understand the SEC may be investigating whether or not there may have been any violations of the federal securities law.”
“We’re focused on investors’ losses and whether Marathon may have misled investors about the legality of funding steps taken to achieve scale in the company’s cryptocurrency mining,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
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