GlobeNewswire Inc | Nov 18, 2021 03:10PM EST

November 18, 2021

NEW YORK, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Marathon Digital Holdings, Inc. (Marathon or the Company) (NASDAQ: MARA). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Marathon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On October 6, 2020, Marathon entered into a series of agreements with multiple parties to design and built a data center in Hardin, Montana, and issued 6 million restricted Marathon common shares in connection with the agreements. Then, on November 15, 2021, Marathon disclosed receipt of a subpoena from the U.S. Securities and Exchange Commission to produce documents and communications concerning the Hardin data facility.

On this news, Marathons stock price fell $20.52 per share, or 27.03%, to close at $55.40 per share on November 15, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980