Mara Holdings, Inc. · NASDAQ:MARA
Mara — Marathon Digital Holdings — Investor Presentation (January 2024)
16 slides from Mara's investor presentation, Jan 18, 2024
Slide 1: Securing and Supporting the Bitcoin Ecosystem
MARATHON’ Securing and Supporting eeu weweune® the Bitcoin Ecosystem NASDAQ: MARA | JAN 2624
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements made in this presentation include forward- looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use ‘of
Slide 3: Marathon - We Think Outside the Blocks
Marathon - We Think Outside the Blocks Our Business » Converting electricity into economic value with Increased Operational Hash Rate? 253% In the most efficient hardware available 2023 - Developing new technologies to advance the 30 Bitcoin mining network 40 4a Our Strategy _ + Vertically Integrate
Slide 4: Setting the Pace for the Bitcoin Mining Industry
Setting the Pace for the Bitcoin Mining Industry ONE OF THE LARGEST & MOST LIQUID MINERS. EFFICIENTLY SCALING & EXPANDING OPERATIONS PROACTIVELY MANAGING LIQUIDITY TICKER NASDAQ: MARA HASH RATE. 24.7 EH/s ~32 EH/s Energized (es of12/51/23) ONCE FULLY DEPLOYED" UNRESTRICTED CASH & CASH EQUIVALENTS, $
Slide 5: Increasing Hash Rate, BTC Production, Efficiency, and Market Share
Increasing Hash Rate, BTC Production, Efficiency, and Market Share Operational Hash Rate (EH/s) Bitcoin Mined 2% vom 4282 » wa an ae wu an 2,926 2,198 ” 20 i oO a . wal seo a Average Fleet Efficiency (3/TH) Share of Bitcoin Miner Rewards! 428 bps 4.3% sm S3 = 25.8 4 24.8 : IT il —_— | 1 Share of bit
Slide 6: Vertically Integrated Tech Stack Improves Operational Efficiency and Enhances Economic Moat
Vertically Integrated Tech Stack Improves Operational Efficiency and Enhances Economic Moat “OF Wape PRA. 50 Mining . Ware Tech nology — Stack MARAPOOL + Self owned & operated mining poo! + Reduces latency & increases transparency Custom Controller Boards + Proprietary firmware optimizes our miners’
Slide 7: A Diversified Portfolio Approach to Bitcoin Mining
A Diversified, Portfolio Approach to Bitcoin Mining Each Bitcoin mining deployment comes with its own set of constraints, and each requires a curated approach. We adapt accordingly. Over time, we have used different strategies and structures to build a portfolio of Bitcoin mining operations that is
Slide 8: Marathon's Portfolio Approach To Bitcoin Mining Assets
Marathon’s Portfolio Approach To Bitcoin Mining Assets Applying Portfolio Theory To Anh aa Key Advantages Bitcoin Mining Assets Y 9 Third-Party Hosted —— | Rapid deployment; outperforms in bull cycles ‘y Pi ploy Ps cys Self-Hosted ——» | Lower operating cost and greater control; outperforms in bear c
Slide 9: MARA Acquired Two Hosting Sites From Generate Capital
MARA Acquired Two Hosting Sites From Generate Capital Transaction Acquired two datacenters with a total of 390 MW in power capacity Marathon currently represents 64 MW (2.2 EH/s) or 16% of the total Potential to add another 310 MW and grow MARA total to 1.2 GW Financial Highlights Power cost expecte
Slide 10: Acquisition Boosts Capacity 56%, Creates Path to 50 EH/s
Acquisition Boosts Capacity 56%, Creates Path to 50 EH/s Strategic Benefits Cements path to 50 EH/s over next 18-24 months g Boosts power capacity 56% to 910 MW, potential for 1.2 GW = Increases site ownership from 3% to 45% MARATHON: Financial Impact Boosts baseline 2024 revenue by over 50% Increas
Slide 11: These Transactions Accelerate Our Strategic Priorities
These Transactions Accelerate Our Strategic Priorities Strategic Initiatives Acq ion Impact Ps Increases power capacity from 584 MW to 910 MW, — Energize potential for over 1.2 GW Optimize —— | Pro forma 2024 gross margin improves by over 400 bps perret? 5 | Accelerates transition away from asset-li
Slide 12: Significantly Grows Power Capacity and Ownership
Significantly Grows Power Capacity and Ownership CURRENT CAPACITY (MW) BY LOCATION PRO FORMA CAPACITY (MW) BY LOCATION ~~ Oo may = Taree if 2% 7 Ly 136 ae Spe 5 Total: 910 MW oe Fe Owned: 45% Garden City, TX zs 4 < = m a f ‘i oxnea cept TT kes a = a2 NASDAQ: MARA | 12
Slide 13: Distributed Operations With A Global Presence
Distributed Operations With A Global Presence Setting The Pace For The Bitcoin Mining Industry @ sites owned by Marathon @ sites operated by Marathon fi Diversified Portfolio + 8 Bitcoin mining sites across multiple states & countries Collaborative Efforts + Partnerships with multiple hosting provid
Slide 14: Financially Attractive Transaction
Financially Attractive Transaction! + Significant Revenue Boost: Expect acquisitions to add over $200M to 2024 revenues. Material contribution from Mining and Hosting + Additional Financial Contribution: In add n to revenue boost, significant contribution through demand response management and curta
Slide 15: Experienced Management Team
Experienced Management Team + Chief Financial Officer since aune 2025 Salman Khan _- 25ye2rsin public companies and Big Four accounting/consulting + High-tech, renewable eneray, oil and gas industries + Finance, M&A, controllership, operations, IR, startups, scale up and exit + MBA from University o
Slide 16: Securing and Supporting the Bitcoin Ecosystem
MARATHON’ Securing and Supporting eeu weweune® the Bitcoin Ecosystem NASDAQ: MARA | JAN 2624
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