Marathon Digital

Last updated
Marathon Digital Holdings, Inc.
Formerly
  • Verve Ventures, Inc. (2010–2011)
  • American Strategic Minerals Corporation (2011–2012)
  • Marathon Patent Group (2012–2021)
Company type Public
FoundedFebruary 23, 2010;14 years ago (2010-02-23)
Headquarters Fort Lauderdale, Florida, U.S.
Key people
Fred Thiel (CEO)
RevenueIncrease2.svg US$388 million (2023)
Total assets Increase2.svgUS$1.99 billion (2023)
Number of employees
approx. 60 (December 2023)
Website mara.com
Footnotes /references
[1]

Marathon Digital Holdings, Inc. is an American digital asset technology company, which engages in mining cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets. The company was founded on February 23, 2010 and is headquartered in Fort Lauderdale, Florida. [1] The company was formerly known as Marathon Patent Group and was the patent holding company that is the parent of Uniloc, allegedly a patent troll company. [2] [3] Marathon purchased patents related to encryption in the 2010s [4] and in 2021 it was known for its purchases of bitcoin [5] and bitcoin mining equipment [6] and a joint venture to use 37 MW from the Hardin Generating Station Montana coal plant to power an adjacently-constructed Marathon bitcoin data center. [7]

Contents

The company changed its name to Marathon Digital Holdings, effective March 1, 2021. Its chief executive officer is Fred Thiel. [8]

In December 2023, Marathon Digital acquired two currently operational Bitcoin mining sites from subsidiaries of Generate Capital for $178.6 million. [9]

See also

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References

  1. 1 2 2023 Annual Report (Form 10-K) (Report). U.S. Securities and Exchange Commission. February 28, 2024.
  2. Mullin, Joe (2017-06-06). "How one patent troll is desperately trying to stay in East Texas". Ars Technica. Retrieved 2021-02-10.
  3. Crecente, Brian (2012-07-23). "Uniloc founder says he's not a 'patent troll', reacts to 'disgusting' 'Minecraft' fan emails". Polygon. Retrieved 2021-02-10.
  4. Linecker, Adelia Cellini (September 1, 2022). "Marathon Digital Holdings Stock Struggles As Bitcoin Tumbles; Is MARA Stock A Buy Now?". Investor's Business Daily. ISSN   1061-2890.
  5. Randewich, Noel (2021-02-10). "Musk's bitcoin bet fuels gains in companies already invested". Reuters. Retrieved 2021-02-10 via www.reuters.com.
  6. "Crush the Crypto Market with Marathon Patent Group". 2021-02-05. Retrieved 2021-02-10.
  7. "Bitcoin miner Marathon signs for coal-fired electricity in Montana". www.datacenterdynamics.com. Retrieved 2021-08-05. Bitcoin mining company Marathon Patent Group has announced plans to build a specialized Bitcoin data center in Montana. The facility will use cheap coal-fired electricity, backed by utility Beowulf Energy, which will take a stake in Marathon. In the joint venture, Beowulf gets part-ownership of Marathon, but Marathon keeps the Bitcoin output from a data center that will use an estimated 37MW of power from Beowulf's 119MW Hardin Generating Station in Big Horn County, Montana. Marathon will pay $0.028/kWh for the energy, which is about a quarter of the average US domestic rate of around $0.11/kWh.
  8. Ostroff, Caitlin; Spegele, Brian (2021-05-21). "Bitcoin Miners Are Giving New Life to Old Fossil-Fuel Power Plants". Wall Street Journal. Retrieved 23 May 2021.
  9. "Marathon Digital Holdings Enters Definitive Agreement To Acquire Multiple Bitcoin Mining Sites for $179 Million". Global Newswire (Press release). 2023-12-19. Retrieved 2023-12-19 via Yahoo Finance.