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]
| Formerly |
|
|---|---|
| Company type | Public |
| Founded | February 23, 2010 |
| Headquarters | Fort Lauderdale, Florida, U.S. |
Key people | Fred Thiel (CEO) |
| Revenue |  US$388 million (2023) |
| Total assets | US$1.99 billion (2023) |
Number of employees | approx. 150 (July 2024) |
| Website | mara |
| Footnotes / references [1] | |
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]
Controversy
editIn July 2024, Time magazine published an investigation into numerous noise and health complaints by residents of Granbury, Texas, many of whom attributed their ailments to a nearby Bitcoin mining facility owned and operated by Marathon Digital.[10]
See also
editReferences
edit- ^ a b 2023 Annual Report (Form 10-K) (Report). U.S. Securities and Exchange Commission. February 28, 2024.
- ^ Mullin, Joe (2017-06-06). "How one patent troll is desperately trying to stay in East Texas". Ars Technica. Retrieved 2021-02-10.
- ^ 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.
- ^ 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.
- ^ Randewich, Noel (2021-02-10). "Musk's bitcoin bet fuels gains in companies already invested". Reuters. Retrieved 2021-02-10 – via www.reuters.com.
- ^ "Crush the Crypto Market with Marathon Patent Group". 2021-02-05. Retrieved 2021-02-10.
- ^ "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.
- ^ 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.
- ^ "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.
- ^ Chow, Andrew R. (2024-07-08). "'We're Living in a Nightmare:' Inside the Health Crisis of a Texas Bitcoin Town". TIME. Archived from the original on 2024-07-09. Retrieved 2024-07-09.
External links
edit- Official website
- Business data for Marathon Digital Holdings, Inc.: