Marathon Digital Holdings Cancels Conference Call and Postpones Publication of Fourth Quarter and Fiscal Year 2022 Financial Results

Rhea-AI Summary

Marathon Digital Holdings (NASDAQ: MARA) announced the cancellation of its fourth-quarter conference call and the postponement of its fiscal year 2022 financial results publication, initially set for February 28, 2023. This decision was noted in a Form NT 10-K filed with the SEC. The company emphasizes the high risks associated with investing in its securities, pointing to uncertainties that could adversely affect its business and financial conditions. Additionally, Marathon aims to establish one of the largest and most sustainable Bitcoin mining operations in North America.

Positive

• Marathon is focusing on becoming one of the largest sustainably powered Bitcoin mining operations in North America.

Negative

• Cancellation of the fourth-quarter webcast and conference call raises concerns over financial transparency.
• Postponement of the fiscal year 2022 financial results could lead to uncertainty among investors.
• High level of investment risk highlighted, indicating potential for significant business and financial instability.

FORT LAUDERDALE, Fla., Feb. 28, 2023 (GLOBE NEWSWIRE) -- Marathon Digital Holdings, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), a leader in supporting and securing the Bitcoin ecosystem, announced today that it has cancelled its webcast and conference call for the fourth quarter and fiscal year 2022, initially scheduled for today, February 28, 2023, at 4:30 p.m. Eastern time, and will postpone the publication of its corresponding financial results. For further information, please review the Company’s Form NT 10-K filed with the SEC this morning, which can be accessed on the Company’s investor relations website. The Company intends to provide additional updates at an appropriate time in the future.

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, filed with the SEC on March 10, 2022. 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 February 2023. See "Forward-Looking Statements" 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 focuses on supporting and securing the Bitcoin ecosystem. The Company is currently in the process of becoming one of the largest and most sustainably powered Bitcoin mining operations in North America. 

Marathon Digital Holdings Company Contact: 
Telephone: 800-804-1690
Email: ir@mara.com

FAQ

When will Marathon Digital Holdings release its Q4 2022 results?

Marathon Digital Holdings has postponed the release of its Q4 2022 results with no new date announced.

What is the impact of the cancellation of the conference call on MARA investors?

The cancellation may lead to decreased transparency and increased uncertainty for investors regarding the company's financial performance.

What are the risks associated with investing in Marathon Digital Holdings?

Investors are warned of high risks including uncertainties related to market performance and operational challenges, which could negatively impact financial results.

What is Marathon's future outlook as a Bitcoin mining company?

Marathon aims to become one of the largest sustainably powered Bitcoin mining operations in North America, although specific future outcomes remain uncertain.