MARATHON DIGITAL Changes Principal Executive Offices to Fort Lauderdale

TL;DR

**MARA moved its main office to Fort Lauderdale, FL on Jan 31, 2024.**

AI Summary

On January 31, 2024, MARATHON DIGITAL HOLDINGS, INC. filed an 8-K to update its principal executive offices from Las Vegas, NV to 101 NE Third Avenue, Suite 1200, Fort Lauderdale, FL 33301. This change matters to investors because it indicates a potential operational or strategic shift, possibly to a new business hub, which could impact future efficiency or access to talent, though the filing itself doesn't detail the 'why'.

Why It Matters

A change in principal executive offices can signal a strategic relocation, potentially impacting operational costs, access to talent, or proximity to key markets, which could influence the company's long-term performance.

Risk Assessment

Risk Level: low — Changing a business address is a routine administrative update and typically carries minimal direct risk to investors.

Analyst Insight

Investors should monitor future filings or company announcements for the strategic rationale behind the relocation, as it could indicate broader operational or strategic shifts that might impact the company's long-term outlook.

Key Players & Entities

• MARATHON DIGITAL HOLDINGS, INC. (company) — the registrant filing the 8-K
• January 31, 2024 (date) — date of the earliest event reported
• 101 NE Third Avenue, Suite 1200, Fort Lauderdale, FL 33301 (location) — new principal executive offices
• 1180 N. TOWN CENTER DRIVE, SUITE 100, LAS VEGAS, NV 89144 (location) — former principal executive offices

Forward-Looking Statements

• The relocation to Fort Lauderdale could lead to increased operational efficiency due to a new business environment. (MARATHON DIGITAL HOLDINGS, INC.) — low confidence, target: 2025-01-31
• The company may seek to expand its talent pool by leveraging the Fort Lauderdale area's workforce. (MARATHON DIGITAL HOLDINGS, INC.) — medium confidence, target: 2024-12-31

FAQ

Key Financial Figures

• $241,099 — ata base salary for the fiscal year was $241,099. FY 2023 Annual Performance The Com

Filing Documents

• form8-k.htm (8-K) — 91KB
• 0001493152-24-004798.txt ( ) — 267KB
• mara-20240131.xsd (EX-101.SCH) — 3KB
• mara-20240131_lab.xml (EX-101.LAB) — 34KB
• mara-20240131_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 4KB

02

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Compensatory Arrangements of Certain Executive Officers On January 31, 2024, the Compensation Committee (the "Committee") of the Board of Directors of Marathon Digital Holdings, Inc. (the "Company") approved the following compensatory updates and awards for certain members of the Company's senior management team, including Fred Thiel, Chief Executive Officer and Chairman, Salman Khan, Chief Financial Officer, James Crawford, Chief Operating Officer, Ashu Swami, Chief Technology Officer, Adam Swick, Chief Growth Officer, and John Lee, Chief Accounting Officer: FY 2023 Annual LTIP Grants; FY 2023 Annual Performance Bonuses; FY 2024 Annual Base Salaries; and FY 2024 Annual Performance Bonus Targets. The FY 2023 Annual LTIP Grants were granted pursuant to the Company's Long Term Incentive Program ("LTIP") established under the 2018 Equity Incentive Plan (the "Plan"). LTIP grants are tied to the performance of the Company when comparing the Company's total shareholder returns to those of its peer group, which consists of other publicly traded Bitcoin mining companies or publicly traded companies involved in the Bitcoin ecosystem. The Company previously signaled that there would be a maximum target award when the Company's performance is at the 85% percentile and above as compared to its peer group as disclosed in the Company's Quarterly Report on Form 8-K, filed with the Securities and Exchange Commission on October 2, 2023. However, following its annual review of benchmark data and a review of compensation practices of certain peer companies of the Company, the Committee approved the FY 2023 LTIP Grants described below, which reflect revised LTIP targets intended to align total compensation for the Company's management team with certain of its peer companies. The Committee believes the updates an

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MARATHON DIGITAL HOLDINGS, INC. Date: February 2, 2024 By: /s/ Zabi Nowaid Name: Zabi Nowaid Title: General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR