Marathon Signals for Taproot
May 31 2021 - 12:00PM
Marathon Digital Holdings, Inc.
(NASDAQ:MARA) ("Marathon"
or "Company"), one of the largest enterprise Bitcoin
self-mining companies in North America, announced that the
Company’s Bitcoin mining pool, MaraPool, has adopted and
implemented Bitcoin Core version 0.21.1.
Bitcoin Core version 0.21.1 is the latest update to the Bitcoin
client software, which is maintained and updated by a large
open-source developer community that collaborates to launch new
features and fixes. This latest update contains a variety of
features, including the Taproot soft fork, which are designed to
improve privacy, improve scalability, and lay the groundwork for
future enhancements to Bitcoin’s functionality. According to the
official release from Bitcoin Core:
“If activated, these improvements will allow users of
single-signature scripts, multisignature scripts, and complex
contracts to all use identical-appearing commitments that enhance
their privacy and the fungibility of all bitcoins. Spenders will
enjoy lower fees and the ability to resolve many multisig scripts
and complex contracts with the same efficiency, low fees, and large
anonymity set as single-sig users. Taproot and schnorr also include
efficiency improvements for full nodes such as the ability to batch
signature verification. Together, the improvements lay the
groundwork for future potential upgrades that may improve
efficiency, privacy, and fungibility further.”
Marathon will adopt the update without modification. As a
result, Marathon’s mining pool, MaraPool, will no longer filter
transactions. Once the update is complete, the pool will begin
validating transactions in a manner consistent with all other
miners who use the standard node.
“Marathon is committed to the core tenets of the Bitcoin
community, including decentralization, inclusion, and no
censorship,” said Fred Thiel, Marathon’s CEO. “Over the coming
week, we will be updating all our miners to the full standard
Bitcoin core 0.21.1 node, including support for Taproot. By
adopting the full standard Bitcoin core node, we will be validating
transactions on the blockchain in the exact same way as all other
miners who use the standard node. We look forward to continue being
a collaborative and supportive member of the Bitcoin community and
to realizing the vision of Bitcoin as the first decentralized,
peer-to-peer payment network that is powered by its users rather
than a central authority or middlemen.”
To hear a full statement on Bitcoin Core version 0.21.1 from
Fred Thiel, Marathon’s CEO, please click here: Statement
Investor NoticeInvesting 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 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 June 2021. See "Safe Harbor"
below.
Forward-Looking StatementsStatements 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 NYDIGNYDIG is a leading technology and
financial services firm dedicated to Bitcoin. The firm and its
subsidiaries provide institutional investment, brokerage, treasury,
and technology solutions to institutions, banks, and private
clients, including insured custody, execution, asset management,
financing, and research. NYDIG was founded in 2017 as the digital
asset subsidiary of Stone Ridge Holdings Group, owner of a $10B+
alternatives asset manager in New York. NYDIG meets the industry’s
highest regulatory, audit, and governance standards, and the firm’s
subsidiaries hold both a BitLicense and a limited purpose trust
charter from the New York State Department of Financial Services.
For more information, visit www.nydig.com.
About Marathon Digital HoldingsMarathon 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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