Marathon Digital Holdings Announces the Closing of its Acquisition of Bitcoin Mining Sites
16 1월 2024 - 10:00PM
Marathon Digital Holdings, Inc.
(NASDAQ:MARA) (“Marathon”
or “Company”), a leader in supporting and securing the
Bitcoin ecosystem, has closed its previously announced acquisition
of two operational Bitcoin mining sites, totaling 390 megawatts of
operational capacity, from Generate Capital.
“With the closing of this acquisition, we have
officially made the transition to a more sophisticated organization
with a diversified portfolio of Bitcoin mining assets,” said Fred
Thiel, Marathon’s chairman and CEO. “Our mining portfolio now
consists of approximately 910 megawatts of capacity, 45% of which
resides on sites we directly own, and 55% of which is hosted by
third parties. We look forward to integrating these assets into our
portfolio, where we can leverage our cutting-edge technologies to
improve efficiencies, and, over the next 18-24 months, scaling our
operations to 50 exahashes of capacity.”
Salman Khan, Marathon’s chief financial officer,
added, “This transaction was made possible by Marathon’s ability to
act opportunistically and decisively, as well as by the strong
balance sheet we have built over the past year. We look forward to
realizing the synergies from this transaction, including the
anticipated reduction in our bitcoin production costs, as we begin
incorporating these new assets into our operations.”
David Hirsch, Principal at Generate Capital,
commented, “This transaction demonstrates Generate’s strong
operational capabilities, and we are excited for Marathon to take
over stewardship of the Kearney and Granbury data centers, which
are some of the most efficient data centers and largest
controllable load resource assets in the North America. Marathon is
well placed to fully realize the potential of these assets for
their stakeholders.”
Additional information about this transaction
can be found in the following resources, all of which are available
on the Company’s investor relations website.
- December 2023 Business Update,
dated December 19, 2023
- Press Release
- Frequently Asked Questions
(FAQ)
- Webcast
- Presentation
Investor Notice Investing in
our securities involves a high degree of risk. Before making an
investment decision, you should carefully consider the risks,
uncertainties and forward-looking statements described under "Risk
Factors" in Item 1A of our most recent Annual Report on Form 10-K
for the fiscal year ended December 31, 2022, filed with the SEC on
March 16, 2023. If any of these risks were to occur, our business,
financial condition or results of operations would likely suffer.
In that event, the value of our securities could decline, and you
could lose part or all of your investment. The risks and
uncertainties we describe are not the only ones facing us.
Additional risks not presently known to us or that we currently
deem immaterial may also impair our business operations. In
addition, our past financial performance may not be a reliable
indicator of future performance, and historical trends should not
be used to anticipate results in the future. Future changes in the
network-wide mining difficulty rate or Bitcoin hash rate may also
materially affect the future performance of Marathon's production
of bitcoin. Additionally, all discussions of financial metrics
assume mining difficulty rates as of January 2024. See
"Forward-Looking Statements" below.
Forward-Looking Statements
Statements made in this press release include forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934. Forward-looking statements can be identified by the use of
words such as “may,” “will,” “plan,” “should,” “expect,”
“anticipate,” “estimate,” “continue,” or comparable terminology.
Such forward-looking statements are inherently subject to certain
risks, trends and uncertainties, many of which the Company cannot
predict with accuracy and some of which the Company might not even
anticipate and involve factors that may cause actual results to
differ materially from those projected or suggested. Readers are
cautioned not to place undue reliance on these forward-looking
statements and are advised to consider the factors listed above
together with the additional factors under the heading “Risk
Factors” in the Company's Annual Reports on Form 10-K, as may be
supplemented or amended by the Company's Quarterly Reports on Form
10-Q. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events, new information or otherwise.
About Marathon Digital Holdings
Marathon is a digital asset technology company that focuses on
supporting and securing the Bitcoin ecosystem. The Company is
currently in the process of becoming one of the largest and most
sustainably powered Bitcoin mining operations in North America.
For more information, visit www.mara.com, or
follow us on:
Twitter: @MarathonDHLinkedIn:
www.linkedin.com/company/marathon-digital-holdings Facebook:
www.facebook.com/MarathonDigitalHoldingsInstagram:
@marathondigitalholdings
Marathon Digital
Holdings Company Contact:
Telephone: 800-804-1690Email: ir@mara.com
Marathon Digital Holdings Media
Contact:Email: marathon@wachsman.com
Marathon Digital (NASDAQ:MARA)
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Marathon Digital (NASDAQ:MARA)
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