Marathon Digital Holdings Appoints Ashu Swami to Chief Technology Officer
26 Gennaio 2022 - 10:05PM
Marathon Digital Holdings, Inc.
(NASDAQ:MARA) ("Marathon"
or "Company"), one of the largest enterprise Bitcoin
self-mining companies in North America, today announced that the
Company has appointed Ashu Swami as chief technology officer. Swami
will be responsible for overseeing and expanding the Company’s
technical operations, ensuring rigorous security measures are met
across the organization, and providing technical guidance.
Swami is an experienced chip designer and crypto
and DeFi expert, who brings to Marathon deep technical, regulatory,
and market expertise. Swami joins Marathon Digital Holdings from
Core Scientific, where he served as the chief product officer,
leading the company’s foray into DeFi and heading mining hardware
and software optimization. Prior to that, he was the CTO of
Apifiny, a hybrid CEX and DEX crypto exchange. Previously, Swami
headed an SPV of Quadeye Securities, which pioneered and traded
mining swaps, operated cloud mining data centers, and served as the
chief advisor to Fortune 50 companies, including Intel Corp, on
blockchain initiatives. He also founded LocalPad, a peer-to-peer
marketplace and payments plugin that provided “ebay-in-a-box” like
functionality to large blogs to monetize their user base. Prior to
that, Swami was a portfolio manager and led the high frequency
market-making business at Morgan Stanley Program Trading to become
a top five market maker in US ETFs. Additionally, he spent over
four years as a senior component designer and then tech lead in
Intel’s Enterprise Platforms Group. Swami holds three patents in
blockchain and trading, an MBA from the Fuqua School of Management
at Duke University, and a BTech in computer science from the Indian
Institute of Technology, Bombay.
“Although Marathon is already established as one of
the leading bitcoin miners in the world, we believe it is critical
to add technical leaders to our team who can help propel Marathon
to the next level through consistent innovation,” said Fred Thiel,
Marathon’s chairman and CEO. “Over the course of his career, Ashu
has developed diverse expertise that are uniquely pertinent to
Marathon’s current and future growth plans, and we believe that his
proven track record of helping organizations stay on the cutting
edge of bitcoin mining technology will prove valuable to our
organization. On behalf of our entire team, I would like to
officially welcome him to Marathon.”
Swami commented, “Marathon’s position reflects the
team’s ability to think ahead and implement creative strategies
that have not only helped scale the business but that have set the
tone for the rest of the bitcoin mining industry. I look forward to
continuing that trend to help Marathon expand its position as one
of the leading companies in our field.”
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, 2020. 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 2022. The total network’s hash rate data is calculated
from a third-party source, which is available here:
https://www.blockchain.com/charts/hash-rate. Data from third-party
sources has not been independently verified. See "Safe Harbor"
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 mines cryptocurrencies with a focus on the blockchain
ecosystem and the generation of digital assets.
Marathon Digital
Holdings Company Contact: Charlie
SchumacherTelephone:
800-804-1690Email: charlie@marathondh.com
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