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Marathon Digital Holdings Announces Intent To Transition Hardin, Montana Bitcoin Mining Operations to More Sustainable Power Sources
Hardin Transition Reflects Marathon’s Commitment To Achieve 100% Carbon Neutrality by Year-End 2022 LAS VEGAS, April 05, 2022 (GLOBE NEWSWIRE) -- Marathon
About this update from Mara Holdings, Inc.
[{"type":"text","content":"Hardin Transition Reflects Marathon’s Commitment To Achieve 100% Carbon Neutrality by Year-End 2022\nLAS VEGAS, April 05, 2022 (GLOBE NEWSWIRE) -- Marathon Digital Holdings, Inc. (NASDAQ:MARA) (\"Marathon\" or \"Company\"), one of the largest enterprise Bitcoin self-mining companies in North America, today announced the Company’s intent to transition its bitcoin miners from the facility in Hardin, MT to new locations with more sustainable and non-carbon emitting sources of power. In 2021, Marathon announced that the Company’s mining operations would be 100% carbon neutral by year-end 2022. To achieve that goal and to build upon its current strategy, Marathon intends to transition its bitcoin miners from the facility in Montana, which currently derives its power from a coal-fired power plant, to new locations with more sustainable sources of power. The transition is planned to occur in stages to minimize downtime and is currently expected to be completed during the third quarter of 2022. “Marathon made a commitment for our mining operations to be 100% carbon neutral by the end of 2022,” said Fred Thiel, Marathon’s chairman and CEO. “To achieve that goal, we have endeavored to ensure our miners are as sustainably powered as possible. With the majority of our fleet already scheduled to be deployed at renewable power facilities and deployments currently underway, we believe it is an appropriate time to transition our legacy operations away from fossil fuel generation and towards more sustainable sources of power. We will therefore be moving our miners from Hardin, Montana to new locations that are more in line with our current strategy of deploying behind the meter at sustainable power stations. We would like to thank the team at Beowulf and Hardin for the integral role they played in helping Marathon through the early stages of our journey to become one of the leading Bitcoin miners in North America.” Investor Notice Investing 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, 2021. If any of these risks were to occur, our business, financial condition or results of operations would l...