Marathon Patent Group Announces Name Change to Marathon Digital Holdings
February 26 2021 - 8:11AM
Marathon Patent Group, Inc. (NASDAQ:
MARA)
("Marathon" or "Company"), one of the largest enterprise Bitcoin
self-mining companies in North America, announced that the Company
has changed its name to Marathon Digital Holdings, effective March
1, 2021.
The name change is part of a broader corporate rebrand that
reflects the Company’s commitment to its core competency: mining
cryptocurrencies and investing in digital assets. As part of the
rebrand, Marathon is also constructing a new corporate website,
which is expected to launch in coming weeks.
“Now that we have transformed Marathon into one of the only
pure-play Bitcoin investment options available, we are rebranding
our Company to ensure our image better aligns with our current
operations and our long-term objectives,” said Merrick Okamoto,
Marathon’s chairman and CEO. “To date we have purchased $150
million worth of Bitcoin and 103,060 of the industry’s premier
Bitcoin miners. These strategic investments demonstrate our
commitment to this new asset class and our clear path to becoming
one of the largest and most efficient miners in North America. The
corporate rebrand, including our new name, Marathon Digital
Holdings, better represents our mission and the strategy we are
implementing to further grow the business.”
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, 2019. 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
hashrate 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
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 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:Jason AssadTelephone:
678-570-6791Email: Jason@marathonpg.com
Marathon Digital Holdings Investor
Contact:Gateway Investor RelationsMatt Glover and Charlie
SchumacherTelephone:
949-574-3860Email: MARA@gatewayir.com
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