Marathon Digital Holdings Announces the Closing of its Acquisition of a 200-Megawatt Bitcoin Mining Data Center Adjacent to a Wind Farm
02 Aprile 2024 - 10:05PM
Marathon Digital Holdings, Inc.
(NASDAQ:MARA) ("Marathon"
or "Company"), one of the world’s largest publicly traded
Bitcoin miners and a leader in supporting and securing the Bitcoin
ecosystem, has closed its previously announced acquisition of a
Bitcoin mining data center in Garden City, Texas, with a name plate
capacity of 200 megawatts, from Applied Digital Corporation
(“Applied Digital”).
“With the closing of this acquisition, we have
gained more influence over our operations, an opportunity to reduce
our cost per coin at this site, and an additional 100 megawatts of
capacity in which to expand,” said Fred Thiel, Marathon’s chairman
and CEO. “Following the anticipated expansion of this site later in
the year, our Bitcoin mining portfolio will consist of 1.1
gigawatts of capacity, 54% of which we will directly own and
operate, and all of which are diversified across eleven sites on
three continents. With orders and options for machines that
represent an additional 45 exahash of capacity already placed, and
with the acquisition of our third Bitcoin mining site now complete,
we believe we have a clear path to reach our growth targets of 35
to 37 exahash this year and 50 exahash next year.”
Wes Cummins, CEO and chairman of Applied
Digital, commented, “The Bitcoin mining data center in Garden City,
Texas is state-of-the-art and a testament to the quality of Applied
Digital’s infrastructure. With this transaction now closed, both
Marathon and Applied Digital are better positioned to pursue their
long-term strategies.”
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, 2023, filed with the SEC on
February 28, 2024. 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. 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
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Twitter: @MarathonDHLinkedIn:
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@marathondigitalholdings
Marathon Digital
Holdings Company Contact:
Telephone: 800-804-1690Email: ir@mara.com
Marathon Digital Holdings Media
Contact:Email: marathon@wachsman.com
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