Marathon Digital Holdings Files 2023 Annual Report Amendment

TL;DR

MARATHON DIGITAL HOLDINGS (MARA) FILED AN AMENDED 10-K FOR 2023. CHECK FOR UPDATES.

AI Summary

Marathon Digital Holdings, Inc. filed an amendment (10-K/A) to its annual report for the fiscal year ending December 31, 2023. The filing, submitted on May 24, 2024, provides updated information and disclosures related to the company's operations. Marathon Digital Holdings, Inc. is a company focused on digital asset technology, with its principal executive offices located in Las Vegas, Nevada.

Why It Matters

This amendment to the 10-K filing may contain updated financial information or disclosures that could impact investors' understanding of Marathon Digital Holdings' performance and financial position as of December 31, 2023.

Risk Assessment

Risk Level: medium — Amendments to 10-K filings often indicate that the original filing required corrections or additional disclosures, which could point to complexities or issues in the company's reporting or operations.

Key Numbers

• 20231231 — Fiscal Year End (The period covered by the amended annual report.)
• 20240524 — Filing Date (The date the 10-K/A was submitted to the SEC.)

Key Players & Entities

• MARATHON DIGITAL HOLDINGS, INC. (company) — Filer of the 10-K/A
• 20231231 (date) — Fiscal year end for the reported period
• 20240524 (date) — Filing date of the amendment
• 0001507605 (company) — Central Index Key for Marathon Digital Holdings, Inc.
• Las Vegas, Nevada (location) — Location of the company's principal executive offices

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share MARA The Nasdaq Capital Marke
• $250.0 thousand — nts, each with deposits of no more than $250.0 thousand. For the year ended December 31, 2023,

Filing Documents

• mara-20231231.htm (10-K/A) — 1486KB
• exhibit231q41_2023.htm (EX-23.1) — 3KB
• exhibit311q41_2023.htm (EX-31.1) — 11KB
• exhibit312q41_2023.htm (EX-31.2) — 11KB
• exhibit321q41_2023.htm (EX-32.1) — 7KB
• 0001628280-24-025261.txt ( ) — 10117KB
• mara-20231231.xsd (EX-101.SCH) — 76KB
• mara-20231231_cal.xml (EX-101.CAL) — 116KB
• mara-20231231_def.xml (EX-101.DEF) — 270KB
• mara-20231231_lab.xml (EX-101.LAB) — 769KB
• mara-20231231_pre.xml (EX-101.PRE) — 549KB
• mara-20231231_htm.xml (XML) — 1708KB

FINANCIAL STATEMENTS AND SUPPLEMENTARY

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY Index to Consolidated Financial Statements Report of Independent Registered Public Accounting Firm (PCAOB ID No. 688 ) 2 Consolidated Balance Sheets as of December 31, 2023 and 2022 4 Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2023, 2022 and 2021 5 Consolidated Statements of Stockholders' Equity for the years ended December 31, 2023, 2022 and 2021 6 Consolidated Statements of Cash Flows for the years ended December 31, 2023, 2022 and 2021 7 Notes to the Consolidated Financial Statements 9 The accompanying notes are an integral part to these audited Consolidated Financial Statements. 1 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Stockholders and Board of Directors of Marathon Digital Holdings, Inc. Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Marathon Digital Holdings, Inc. (the "Company") as of December 31, 2023 and 2022, the related consolidated statements of comprehensive income (loss), stockholders' equity, and cash flows for each of the three years in the period ended December 31, 2023, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023, and 2022, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) ("PCAOB"), the Company's internal control over financial reporting as of December 31, 2023, based on the criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of t

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Organization Marathon is a digital asset technology company that is principally engaged in producing or "mining" digital assets with a focus on the Bitcoin ecosystem. Marathon's strategic initiatives primarily focus on mining and holding bitcoin as a long-term investment. Bitcoin is seeing increasing adoption, and, due to its limited supply, the Company believes it offers opportunity for appreciation in value and long-term growth prospects for its business. In addition to mining and holding bitcoin, from time to time Marathon has explored, and may in the future explore, opportunities to become more involved in businesses that expand or supplement those directly related to the self-mining of bitcoin as favorable market conditions and opportunities arise. For example, Marathon has considered or engaged in owning and operating bitcoin mining facilities or data centers, selling proprietary software or technology to third parties operating in the Bitcoin ecosystem, offering advisory and consulting services to support bitcoin mining ventures in domestic and international jurisdictions, and generating electricity from renewable energy resources or methane gas capture to power bitcoin mining projects. Marathon's business is also active in Bitcoin-related projects related to the technological development of immersion, hardware, firmware, mining pools and side chains that use the blockchain cryptography. The term "Bitcoin" with a capital "B" is used to denote the Bitcoin protocol which implements a highly available, public, permanent, and decentralized ledger. The term "bitcoin" with a lower case "b" is used to denote the token, bitcoin. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of the Company and its wholly owned and controlled subsid

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View this 10-K/A filing on SEC EDGAR