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Marathon Digital | 8-K: Marathon Digital Holdings Announces the Closing of its Acquisition of a 200- Megawatt Bitcoin Mining Data Center Adjacent to a Wind Farm

SEC announcement ·  Apr 4 16:07
Summary by Moomoo AI
Marathon Digital Holdings, Inc. (Marathon), a prominent Bitcoin mining company, has successfully completed the acquisition of a 200-megawatt Bitcoin mining data center in Garden City, Texas. The acquisition, which was initially announced on March 14, 2024, was finalized on April 2, 2024, as per the terms of the Purchase and Sale Agreement. This strategic move is expected to enhance Marathon's operational control, reduce costs per coin, and provide additional capacity for expansion. Following the anticipated expansion, Marathon's mining portfolio will reach 1.1 gigawatts of capacity, with a significant portion directly owned and operated across multiple sites globally. The company has also placed orders for machines that would add 45 exahash of capacity, aiming to achieve growth targets of 35 to 37 exahash this year and 50 exahash...Show More
Marathon Digital Holdings, Inc. (Marathon), a prominent Bitcoin mining company, has successfully completed the acquisition of a 200-megawatt Bitcoin mining data center in Garden City, Texas. The acquisition, which was initially announced on March 14, 2024, was finalized on April 2, 2024, as per the terms of the Purchase and Sale Agreement. This strategic move is expected to enhance Marathon's operational control, reduce costs per coin, and provide additional capacity for expansion. Following the anticipated expansion, Marathon's mining portfolio will reach 1.1 gigawatts of capacity, with a significant portion directly owned and operated across multiple sites globally. The company has also placed orders for machines that would add 45 exahash of capacity, aiming to achieve growth targets of 35 to 37 exahash this year and 50 exahash the following year. The seller, Applied Digital Corporation, regards the data center as state-of-the-art and believes the transaction positions both companies to better pursue their long-term objectives. Marathon's latest Annual Report on Form 10-K, filed on February 28, 2024, outlines the inherent risks associated with investing in the company's securities, and the company cautions investors to consider these risks carefully.

This announcement is a separate document:

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