Bitcoin Miner Marathon to Restate After SEC Flags Errors (1)

Marathon Digital Holding Inc.said there have been “accounting errors” in several quarters of its financial statements after the US Securities and Exchange Commission raised questions about how the Bitcoin miner recognized the impairment of digital assets and revenue.

The Las Vegas-based company received a comment letter from the agency on Feb. 22. It said on Tuesday the financial statements including quarterly reports and annual reports “should no longer be relied upon,” according to a Feb.28 SEC filing. Marathon canceled its planned release of fourth-quarter results after the close of regular trading.

Marathon’s filings came as the crypto-mining industry ...