US mining company Marathon Digital fined 138 million magnesium for violating NCND agreement

Marathon Digital, the world's most valuable listed Bitcoin mining company, has been fined $138 million for violating the NCND agreement. NCND（Non-Circumvention， Non-Disclosure Agreement)， The main content involves agreements on confidentiality and non compete clauses.

According to Cointelegraph, the plaintiff in this lawsuit is Michael Ho, former co-founder of US Bitcoin Corp and Chief Strategy Officer of mining company Hut 8. According to information provided by his legal team Affeld England&Johnson LLP, Michael Ho developed a growth strategy for Marathon in 2020, planning to establish a large-scale Bitcoin mining facility in North America. However, after implementing this strategy, Marathon Digital did not pay for the proprietary information provided to him, violating the NCND agreement signed with him. The jury has reached a unanimous verdict in this case, sentencing Marathon Digital to pay $138 million to Ho.

According to data from Yahoo Finance, Marathon Digital's stock price fell about 2% before trading.