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Crypto miner marathon to sell $500 million of bonds to buy more Bitcoin
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livemint.comShares of Marathon Digital Holdings Inc. tumbled 27% after the cryptocurrency mining company disclosed that it received a subpoena from the U.S. Securities and Exchange Commission related to a partnership for a Montana data facility.
In a quarterly filing, Marathon acknowledged the subpoena asking it to produce documents and communications concerning the facility in Hardin, Montana, a venture formed with Beowulf Energy in October 2020. The SEC may be investigating whether there were violations of securities law, the Las Vegas-based company said. The firm also announced plans to sell $500 million in convertible securities.
“It’s never good news for the SEC following up," said Chris Brendler, an analyst at DA Davidson & Co. who has a buy
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