Marathon Digital (NASDAQ: MARA), the largest Bitcoin miner, has been fined $139 million for breaching a non-disclosure agreement. This verdict follows a jury decision in favor of Michael Ho, former co-founder of US Bitcoin Corp and chief strategy officer at Hut 8.
Agreement Breach and Stock Impact
According to a press release from Affeld England & Johnson LLP, who represented Michael Ho, the breach occurred when Marathon Digital implemented a growth strategy developed by Ho in 2020 without compensating him. This strategy involved creating a large-scale Bitcoin mining facility in North America, and executing it without honoring the non-circumvent agreement led to the hefty fine.
David Affeld, a partner at Affeld England & Johnson LLP, emphasized the importance of adhering to agreements, stating, "This verdict underscores the necessity of ethical business practices and the importance of honoring contractual obligations and professional relationships."
Following a 3% drop on Monday, MARA stock continued to decline, falling an additional 2.5% in the pre-market session on Tuesday.
Bitcoin Miner Capitulation Over
Bitcoin analyst Willy Woo announced that the Bitcoin miner capitulation is over, with the Bitcoin hash rate recovering sharply. This recovery suggests a bottom in both Bitcoin price and hash rate, coinciding with the introduction of new mining hardware.
Woo highlighted that new M66s hardware launched last week, followed by S21 Pros this week, boosting the hash rate and indicating network growth and increased security. As reported by CoinGape, Bitcoin mining stocks have seen a strong recovery, with 30-40% gains over the past month. Analysts believe these stocks will continue to outperform Bitcoin in the coming months.
Woo noted that macro bottoms occur when miner profitability is at its lowest, and significant signals emerge during Bitcoin halving events, which cut miner earnings by 50% and often lead to a bull run. He suggested that the market is currently in this stage, indicating increased profitability for miners moving forward.
Woo also mentioned that publicly listed Bitcoin miners are likely to break out soon, making it an opportune time to invest in Bitcoin mining.
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Tether chose Uruguay to mining cryptocurrency. Review by Crypto Upvotes experts

Tether has decided to get into Bitcoin mining and announced. It is investing in green power generation and launching bitcoin mining in Uruguay. As part of the project, the issuer of the leading stabelcoin USDT is partnering with a local licensed company.

Tether has thus expanded its scope to include energy and mining. The report states that the company’s goal is. It is to become a global technology leader and this investment demonstrates Tether’s “commitment to innovation in energy and the future of cryptocurrency.”

The Tether noted that it chose Uruguay, which is rich in natural resources. Because the country offers ideal conditions for renewable energy production. These are the creation of wind farms, solar parks and hydropower projects. 94% of the country’s electricity production comes from renewable energy sources. And that makes it a world leader in this area.

Our experts note that the USDT token issued by Tether has remained the largest stablecoin by market capitalization for many years. And third among all cryptocurrencies after Bitcoin and Ethereum.

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