History of Expansion and Growth
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Q1 2020
Miner upgrades
Began aggressively upgrading mining portfolio with next gen. miners.
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Q1 2020
Purchased new miners
Purchased 700 M30S+ & 1,1000 S19 Pro miners
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Q1 2020
Debt
Eliminated long-term debt
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Q2 2020
Purchased miners
Purchased 500 additional S19 Pro miners
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Q2 2020
Closed public offering
Closed $6.9 million public offering & purchased 700 M31S+ miners
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Q2 2020
Bitmain Contract
Announced $23 million contract with Bitmain to purchase 10,500 S19 Pro miners
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Q3 2020
Hashrate increase
Increased hashrate 230% after installing 1,360 next gen. miners
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Q3 2020
Beowulf
Partnered with Beowulf Energy: Relocated miners to 105 MW BTC Mining Data Center in Hardin, MT; Reduced aggregate mining costs 38%
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Q3 2020
More miners
Additional 10,000 S19 Pro miners purchased from Bitmain
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Q4 2020
Even more miners
Additional 10,000 S19j Pro miners purchased from Bitmain
Search for 2nd data center initiated -
Q4 2020
Bitmain's largest order
Purchased 70,000 S19 miners — Bitmain’s largest order ever
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Q1 2021
Shelf offering
Announced successful completion of shelf offering, increasing cash position to $217.6 million
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Q1 2021
DCMNA
Formed Digital Currency Miners of North America (DCMNA)
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Q1 2021
Private placement
Increased cash position to $455.1 million after successful private placement
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Q1 2021
Purchased bitcoin
Purchased 4,812.66 BTC for average price of $31,168 / BTC
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Q1 2021
Installing S19 miners
Began installing 1st tranches of S-19 miners from Bitmain
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Q1 2021
Rebranded
Rebranded to Marathon Digital Holdings
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Q1 2022
Fully deployed
All 103,120 miners deployed making Marathon one of the largest miners in North America