Marathon Digital Holdings Announces Intent To Transition Hardin, Montana Bitcoin Mining Operations to More Sustainable Power Sources
05 Abril 2022 - 09:30AM
Marathon Digital Holdings, Inc.
(NASDAQ:MARA) ("Marathon"
or "Company"), one of the largest enterprise Bitcoin
self-mining companies in North America, today announced the
Company’s intent to transition its bitcoin miners from the facility
in Hardin, MT to new locations with more sustainable and non-carbon
emitting sources of power.
In 2021, Marathon announced that the Company’s mining operations
would be 100% carbon neutral by year-end 2022. To achieve that goal
and to build upon its current strategy, Marathon intends to
transition its bitcoin miners from the facility in Montana, which
currently derives its power from a coal-fired power plant, to new
locations with more sustainable sources of power. The transition is
planned to occur in stages to minimize downtime and is currently
expected to be completed during the third quarter of 2022.
“Marathon made a commitment for our mining operations to be 100%
carbon neutral by the end of 2022,” said Fred Thiel, Marathon’s
chairman and CEO. “To achieve that goal, we have endeavored to
ensure our miners are as sustainably powered as possible. With the
majority of our fleet already scheduled to be deployed at renewable
power facilities and deployments currently underway, we believe it
is an appropriate time to transition our legacy operations away
from fossil fuel generation and towards more sustainable sources of
power. We will therefore be moving our miners from Hardin, Montana
to new locations that are more in line with our current strategy of
deploying behind the meter at sustainable power stations. We would
like to thank the team at Beowulf and Hardin for the integral role
they played in helping Marathon through the early stages of our
journey to become one of the leading Bitcoin miners in North
America.”
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, 2021. 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 March 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: Telephone:
800-804-1690Email: ir@marathondh.com
Marathon Digital (NASDAQ:MARA)
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