Marathon Digital CEO Thiel Adds Chairman Role

Ticker: MARA · Form: 8-K · Filed: 2024-05-06T00:00:00.000Z

Sentiment: neutral

Topics: leadership-change, board-of-directors, executive-appointment

Related Tickers: MARA

TL;DR

Thiel is now CEO AND Chairman at Marathon Digital. Okamoto out.

AI Summary

Marathon Digital Holdings, Inc. announced on May 1, 2024, the appointment of Fred Thiel as Chief Executive Officer and Chairman of the Board, effective immediately. Thiel, who has been CEO since 2021, will now also assume the Chairman role previously held by Merrick Okamoto. The company also announced the departure of director Douglas Brown.

Why It Matters

This leadership change consolidates power under the current CEO, potentially signaling a more unified strategic direction for the company.

Risk Assessment

Risk Level: low — The filing reports routine executive and board changes, which are common in publicly traded companies and do not inherently indicate significant financial or operational risk.

Key Players & Entities

FAQ

Who has been appointed as the new Chairman of the Board for Marathon Digital Holdings, Inc.?

Fred Thiel has been appointed as the new Chairman of the Board, in addition to his role as CEO.

When were these leadership changes effective?

The changes were effective as of May 1, 2024.

Who previously held the position of Chairman of the Board?

Merrick Okamoto previously held the position of Chairman of the Board.

Has Fred Thiel previously held a leadership role at Marathon Digital Holdings, Inc.?

Yes, Fred Thiel has been the Chief Executive Officer of Marathon Digital Holdings, Inc. since 2021.

Were there any other notable changes in the Board of Directors mentioned in this filing?

Yes, the filing also notes the departure of director Douglas Brown.

From the Filing

0001493152-24-017855.txt : 20240506 0001493152-24-017855.hdr.sgml : 20240506 20240506090021 ACCESSION NUMBER: 0001493152-24-017855 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240501 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240506 DATE AS OF CHANGE: 20240506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARATHON DIGITAL HOLDINGS, INC. CENTRAL INDEX KEY: 0001507605 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] ORGANIZATION NAME: 06 Technology IRS NUMBER: 010949984 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36555 FILM NUMBER: 24916041 BUSINESS ADDRESS: STREET 1: 1180 N. TOWN CENTER DRIVE STREET 2: SUITE 100 CITY: LAS VEGAS STATE: NV ZIP: 89144 BUSINESS PHONE: (800) 804-1690 MAIL ADDRESS: STREET 1: 1180 N. TOWN CENTER DRIVE STREET 2: SUITE 100 CITY: LAS VEGAS STATE: NV ZIP: 89144 FORMER COMPANY: FORMER CONFORMED NAME: Marathon Patent Group, Inc. DATE OF NAME CHANGE: 20130222 FORMER COMPANY: FORMER CONFORMED NAME: American Strategic Minerals Corp DATE OF NAME CHANGE: 20111213 FORMER COMPANY: FORMER CONFORMED NAME: VERVE VENTURES INC DATE OF NAME CHANGE: 20101210 8-K 1 form8-k.htm false 0001507605 0001507605 2024-05-01 2024-05-01 iso4217:USD xbrli:shares iso4217:USD xbrli:shares       UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549       FORM 8-K       CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): May 1, 2024       MARATHON DIGITAL HOLDINGS, INC. (Exact name of Registrant as Specified in Its Charter)       Nevada   001-36555   01-0949984 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)   101 NE Third Avenue , Suite 1200 Fort Lauderdale , FL 33301 (Address of principal executive offices and zip code)   (800) 804-1690 (Registrant’s telephone number, including area code)   Not Applicable (Former Name or Former Address, if Changed Since Last Report)       Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:     ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)          ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)          ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))         ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock   MARA   The Nasdaq Capital Market   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).   Emerging growth company ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐             Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appo

View on Read The Filing