Marathon Names William Beam Controller
March 18 2021 - 8:15AM
Marathon Digital Holdings, Inc.
(NASDAQ:MARA) ("Marathon"
or "Company"), one of the largest enterprise Bitcoin
self-mining companies in North America, today announced that the
Company has named William Beam to the position of Controller.
Mr. Beam comes to the Marathon team as a senior-level financial
executive with extensive finance, accounting, administration, and
development experience in SaaS industries, regulated markets, and
resort & casino operations. His career spans 20+ years with the
proven ability to improve operations, impact business growth, and
maximize profits. He is well-respected for a wide range of
knowledge and experience, creative problem-solving skills, and
recruiting and managing high performance teams, bringing an
entrepreneurial mindset to the creation and strategic development
of businesses in a variety of stages and industries.
Prior to joining Marathon, Mr. Beam served as the VP of Finance
for NS8, Inc. where he was responsible for the creation and
implementation of a new Chart of Accounts, Budgeting and Reporting
Tools, implementing a new AP platform and processes, and leading
the conversion to NetSuite. In addition to performing extensive due
diligence on potential mergers and acquisitions, he assisted in the
administration and completion of the $50M Series A investment round
and subsequent $73M tender offer process. He was also responsible
for the administration and management of a wholly owned subsidiary
in Amsterdam along with the initial set up and operations of
satellite offices in Singapore, Melbourne, Miami, and the San
Francisco Bay area.
Earlier in his career, Mr. Beam spent 10+ years working for
Fortune 500 company MGM Resorts International, where he held the
titles of Chief Financial Analyst, Executive Director
of Finance, and VP of Finance.
“We are excited to welcome Will to our management team,” said
Merrick Okamoto, Marathon’s chairman and CEO. “In addition to all
his financially related skills, which we expect will benefit our
finance department, Will has a documented track record of being an
advocate for doing the right thing and he will always seek to
protect our shareholders.”
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 January 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 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@marathondh.com
Marathon Digital Holdings Investor
Contact:Gateway Investor RelationsMatt Glover and Charlie
SchumacherTelephone:
949-574-3860Email: MARA@gatewayir.com
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