Marathon Digital Acquires North Dakota Bitcoin Mine for $170M
Ticker: MARA · Form: 8-K · Filed: Apr 4, 2024 · CIK: 1507605
| Field | Detail |
|---|---|
| Company | Marathon Digital Holdings, Inc. (MARA) |
| Form Type | 8-K |
| Filed Date | Apr 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, bitcoin-mining, expansion
Related Tickers: MARA
TL;DR
MARA just bought a ND Bitcoin mine for $170M, boosting their mining power.
AI Summary
On April 2, 2024, Marathon Digital Holdings, Inc. announced the completion of its previously disclosed acquisition of a Bitcoin mining facility in North Dakota from a third-party seller for $170 million. The acquisition is expected to significantly increase the company's Bitcoin mining capacity.
Why It Matters
This acquisition expands Marathon Digital's operational footprint and is expected to boost its Bitcoin mining output, potentially increasing revenue and market share in the cryptocurrency mining sector.
Risk Assessment
Risk Level: medium — The acquisition involves a significant capital outlay and the inherent volatility of Bitcoin prices and mining operations presents risks.
Key Numbers
- $170 million — Acquisition Cost (Price paid for the North Dakota Bitcoin mining facility.)
Key Players & Entities
- Marathon Digital Holdings, Inc. (company) — Registrant
- North Dakota (location) — Location of acquired Bitcoin mining facility
- $170 million (dollar_amount) — Acquisition price
- April 2, 2024 (date) — Date of earliest event reported
FAQ
What was the primary purpose of this 8-K filing?
The primary purpose was to report the completion of the acquisition of a Bitcoin mining facility in North Dakota.
What was the purchase price for the North Dakota facility?
The purchase price was $170 million.
When was the acquisition completed?
The acquisition was completed on April 2, 2024.
Where is the newly acquired Bitcoin mining facility located?
The facility is located in North Dakota.
What is the name of the acquiring company?
The acquiring company is Marathon Digital Holdings, Inc.
Filing Stats: 586 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-04-04 16:05:21
Filing Documents
- form8-k.htm (8-K) — 40KB
- ex99-1.htm (EX-99.1) — 13KB
- ex99-1_001.jpg (GRAPHIC) — 6KB
- 0001493152-24-013186.txt ( ) — 234KB
- mara-20240402.xsd (EX-101.SCH) — 3KB
- mara-20240402_lab.xml (EX-101.LAB) — 33KB
- mara-20240402_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
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 thereunto duly authorized. Date: April 4, 2024 MARATHON DIGITAL HOLDINGS, INC. By: /s/ Zabi Nowaid Name: Zabi Nowaid Title: General Counsel