About Marathon Digital Holdings

Marathon Digital Holdings, Inc. operates as a digital asset technology company that produces or ‘mines’ digital assets with a focus on the blockchain ecosystem and the generation of digital assets. The company’s strategy is to produce and hold bitcoin (after paying for cash operating costs of production) as a long term investment. As of December 31, 2022, the company is solely focused on the mining of bitcoin and ancillary opportunities within the Bitcoin ecosystem. In January 2023, the company and FS Innovation, LLC (FSI) entered into a Shareholders’ Agreement (the Agreement) regarding formation of an Abu Dhabi Global Markets company (the ADGM Entity), whose purpose shall be to jointly establish and operate one or more mining facilities for digital assets; and mine digital assets (collectively, the Business). The initial project by the ADGM Entity shall consist of two digital asset mining sites comprising 250 MW in Abu Dhabi, and the initial equity ownership in the ADGM Entity shall be 80% FSI and 20% the company. The facility is expected to be operational in the second half of 2023. Strategic Focus The company’s focus at the onset of 2022 was on growth execution and transition into a larger operation. This focus consisted of both the expansion of operations of the company’s core bitcoin mining business (operating mining rigs at third-party owned and operated data centers) and operating MaraPool – the company’s proprietary bitcoin mining pool which orchestrates the operation of its fleet of mining rigs. Intellectual Property The company has two patent applications pending with the USPTO, such as US Application No. 17/751370 and US Application No. 17/975229. History The company was founded in 2010. It was incorporated in the state of Nevada in 2010. The company was formerly known as American Strategic Minerals Corporation and changed its name to Marathon Patent Group, Inc. in October 2012 and then to Marathon Digital Holdings, Inc. in March 2021.