The SEC has concluded a more than two-year review of financial disclosures at Bitcoin miner Marathon Digital Holdings Inc., which uncovered errors forcing accounting restatements covering several quarters as the regulator’s questions dragged on.
Staff at the Securities and Exchange Commission traded more than 30 letters with the crypto miner from April 2022 to June 2024, according to documents the agency released Tuesday. Agency reviewers lobbed questions about everything from how the company calculated drops in the value of its Bitcoin stash to how it tallied the top line in its income statement.
The unusually long review—almost 800 days—is more ...
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