Marathon Digital Holdings has been fined $138 million for breaching a non-disclosure and non-circumvention agreement by using a proprietary growth strategy without compensating its developer, Michael Ho.
The Allegations
Marathon Digital Holdings, a major entity in the Bitcoin mining sector, has been hit with a substantial $138 million fine. This decision came after a unanimous jury verdict found the company guilty of breaching a non-disclosure and non-circumvention agreement.
Michael Ho, co-founder of US Bitcoin Corp and chief strategy officer at Hut 8, accused Marathon Digital of using a proprietary growth strategy he developed in 2020 without compensating him. This strategy focused on establishing a large-scale Bitcoin mining facility in North America.
According to court documents, Ho had entered into an agreement with Marathon in 2020 to provide proprietary information about a significant energy supplier for Marathon’s mining operations. The agreement explicitly stated
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