Marathon Collaborates with NYDIG To Launch Unique Products and Services for Members of Marathon’s Mining Pool
Marathon Digital Holdings (MARA) announced an expanded collaboration with NYDIG to enhance services for its Bitcoin mining pool, MaraPool. This partnership provides members with access to NYDIG's institutional-grade offerings, including equipment procurement and financing. MaraPool focuses on carbon-neutral mining and offers transparency through third-party audits. Marathon's CEO highlighted the importance of NYDIG's support, while NYDIG's CEO praised Marathon's innovative approach. Applications from other U.S. Bitcoin mining companies for MaraPool will be accepted later this month.
- Expanded collaboration with NYDIG enhances services for MaraPool members.
- Access to NYDIG's institutional-grade products improves operational capabilities.
- Focus on carbon-neutral mining aligns with growing environmental concerns.
- None.
LAS VEGAS, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Marathon Digital Holdings, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), one of the largest enterprise Bitcoin mining companies in North America, today announced an expanded collaboration with NYDIG, a leading technology and financial services firm dedicated to Bitcoin, to provide members of Marathon’s Bitcoin mining pool, MaraPool, with seamless access to NYDIG’s comprehensive and institutional-grade services for Bitcoin miners.
MaraPool is a bitcoin mining pool based in the United States focused on carbon neutral mining and reducing the environmental impact of Bitcoin mining. The pool provides its members with industry-leading transparency and is fully audited by a third-party firm based in the U.S. Through the new collaboration with NYDIG, members of MaraPool will now also benefit from access to NYDIG’s products and services for Bitcoin miners, including equipment procurement, financing, investment vehicles, advisory services, and more.
“NYDIG has been an important collaborator of ours, providing a variety of treasury management and trading services, including facilitation of the purchase of 4,812.66 bitcoins in January,” said Fred Thiel, Marathon’s CEO. “NYDIG’s team shares our passion for professionalizing and institutionalizing the Bitcoin mining industry in the U.S., and by collaborating with NYDIG on our mining pool, we have enabled all members of our pool to have access to the same world class solutions and expertise from which Marathon has benefitted.”
Robert Gutmann, co-founder and CEO of NYDIG, commented, “Marathon has proven to be one of the most innovative companies in the Bitcoin mining space and a great partner to NYDIG. We are very pleased to be expanding our work with Marathon to provide all members of MaraPool with access to NYDIG’s robust suite of products and services tailored specifically for the complex needs of bitcoin miners.”
MaraPool will begin accepting applications from other U.S.-based Bitcoin mining companies later this month. To learn more about MaraPool, visit www.marapool.com.
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, 2020. 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 September 2021. 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 NYDIG
NYDIG provides Bitcoin technology and investment solutions to insurers, banks, corporations, institutions, and HNW individuals. The firm and its products meet the industry’s highest regulatory, audit, and governance standards. Learn more at nydig.com, or follow NYDIG on LinkedIn and Twitter (@NYDIG_BTC).
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:
Charlie Schumacher
Telephone: 800-804-1690
Email: charlie@marathondh.com
FAQ
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