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Marathon Digital Holdings’ Bitcoin Mining Fleet To Attain 23.3 Exahash

After Newest Buy of BITMAIN’s ANTMINER S19 XP

Marathon’s Whole Mining Fleet Anticipated To Encompass Roughly 199,000 Bitcoin Miners Producing Roughly 23.3 EH/s by Early 2023

LAS VEGAS, Marathon Digital Holdings, Inc. (NASDAQ: MARA) (“Marathon” or “Firm”), one of many largest enterprise Bitcoin self-mining corporations in North America, has entered right into a contract with BITMAIN to buy a report variety of ANTMINER S19 XP (140 TH/s) bitcoin miners.

Based mostly on present supply schedules, Marathon anticipates all newly bought miners to ship from BITMAIN between July 2022 and December 2022. At the side of this buy, Marathon will probably be upgrading a portion of its mining fleet with the newest mining {hardware} to extend the general effectivity of the Firm’s operations. In consequence, the Firm’s mining operations at the moment are anticipated to consist of roughly 199,000 bitcoin miners producing roughly 23.3 EH/s, making Marathon one of many largest identified publicly traded bitcoin miners on the earth as soon as all miners are absolutely deployed and operational.

“Given the energy of our steadiness sheet and our asset-light mannequin, which permits us to take a position our capital into mining machines somewhat than infrastructure, we had been uniquely positioned to put the most important single order of S19 XPs, when it comes to complete hash price, BITMAIN has ever obtained,” stated Fred Thiel, Marathon’s CEO. “With this newest buy of S19 XPs, we will probably be rising our Bitcoin mining operations to roughly 199,000 complete miners and 23.3 EH/s by early 2023. This progress represents greater than a 600% enhance from our present hash price and a 75% enhance from our prior projection of 13.3 EH/s by the center of 2022.”

“With 23.3 EH/s of complete capability anticipated to be on-line in early 2023 and ample entry to renewable energy behind the meter with one of many largest renewable vitality suppliers in North America, we consider we now have established Marathon as one of many main bitcoin miners in North America and probably the most important identified miner on the earth. We wish to thank the staff at BITMAIN for serving to us understand this goal.”

BITMAIN commented, “Marathon continues to be one among BITMAIN’s most essential shoppers. We’re happy to once more assist their progress with this order for our S19 XPs, that are among the many strongest and environment friendly bitcoin miners accessible right now. We sit up for persevering with our working relationship with Marathon.”

Investor Discover Investing in our securities entails a excessive diploma of danger. Earlier than investing resolution, it is best to fastidiously take into account the dangers, uncertainties and forward-looking statements described beneath “Threat Components” in Merchandise 1A of our most up-to-date Annual Report on Kind 10-Ok for the fiscal yr ended December 31, 2020. If any of those dangers had been to happen, our enterprise, monetary situation or outcomes of operations would probably endure. In that occasion, the worth of our securities might decline, and you may lose half or your entire funding. The dangers and uncertainties we describe will not be the one ones going through us. Further dangers not presently identified to us or that we at the moment deem immaterial may additionally impair our enterprise operations. As well as, our previous monetary efficiency is probably not a dependable indicator of future efficiency, and historic traits shouldn’t be used to anticipate outcomes sooner or later. Future adjustments within the network-wide mining problem price or Bitcoin hash price may additionally materially have an effect on the long run efficiency of Marathon’s manufacturing of Bitcoin. Moreover, all discussions of economic metrics assume mining problem charges as of December 2021. The whole community’s hash price knowledge is calculated from a third-party supply, which is obtainable right here: https://www.blockchain.com/charts/hash-rate. Information from third-party sources has not been independently verified. See “Protected Harbor” beneath.

Ahead-Trying Statements Statements made on this press launch embrace forward-looking statements throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934. Ahead-looking statements might be recognized by way of phrases corresponding to “could,” “will,” “plan,” “ought to,” “count on,” “anticipate,” “estimate,” “proceed,” or comparable terminology. Such forward-looking statements are inherently topic to sure dangers, traits and uncertainties, a lot of which the Firm can’t predict with accuracy and a few of which the Firm won’t even anticipate and contain elements that will trigger precise outcomes to vary materially from these projected or advised. Readers are cautioned to not place undue reliance on these forward-looking statements and are suggested to contemplate the elements listed above along with the extra elements beneath the heading “Threat Components” within the Firm’s Annual Studies on Kind 10-Ok, as could also be supplemented or amended by the Firm’s Quarterly Studies on Kind 10-Q. The Firm assumes no obligation to replace or complement forward-looking statements that change into unfaithful due to subsequent occasions, new info or in any other case.   About Marathon Digital Holdings Marathon is a digital asset expertise firm that mines cryptocurrencies with a concentrate on the blockchain ecosystem and the technology of digital belongings.

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