Mara Holdings, Inc. · NASDAQ:MARA
Mara — Marathon Digital Holdings — Investor Presentation (March 2021)
23 slides from Mara's investor presentation, Mar 16, 2021
Slide 1: Building America's Leading Enterprise Bitcoin Miner
Building America’s Leading Enterprise March 2021 Bitcoin Miner Nasdaq: MARA
Slide 2: Marathon at-a-glance
Marathon at-a-glance Building the largest self-mining operation in North America at one of the lowest energy costs. Potential to grow monthly revenue from 0 to $102,950,000 by Q1 2022 ge AGGRESSIVELY INCREASING MINING = POWER (probability of earning Bitcoin) © REDUCING bitcoin production costs *All
Slide 3: Scaling as Bitcoin Appreciates
Scaling as Bitcoin Appreciates If all miners were deployed today*, and Bitcoin’s price was... 9 © $55,000/BTC 103,120 miners producing 10.37 EH/s 6.4% of global bitcoin hashrate 55-60 Bitcoins per day at an avg. cost of $4,541/BTC $94.4 million in revenue per month $86.5 million in mining profit per
Slide 4: Owning Bitcoin can feel complicated
Owning Bitcoin can feel complicated. How do | exchange it? How should | store it? What is cold storage? FOR SOME, IT'S IMPRACTICAL. How is this taxed? But many want exposure. How do | keep it safe? Where can | spend it? What if | lose my keys? How is this taxed? What if | lose my BTC? What if an exc
Slide 5: Exposure to "Digital Gold" is Simple
Exposure to “Digital Gold” is Simple Just like with physical gold, you can... Purchase the Invest in a Buy into asset itself producer an ETF (i.e., miner) é &) GRAYSCALE e: BITCOIN TRUST BTC Nasdaq: MARA OTC: GBTC
Slide 6: Marathon Creates Opportunities for Alpha
Marathon Creates Opportunities for Alpha Recent Case Studies 4900% From Nov. 20, 2020 to Dec. 22, 2020* 4400% 3900% BTC: Up 28% from $18,675 to $23,823 3400% - GBTC: Up 43% from $21.24 to $30.39 2900% MARA: Up 312% from $3.39 to $13.97 2400% 1900% From Dec. 31, 2020 to Mar. 12, 2021* 1400% 900% BTC:
Slide 7: Adoption is Accelerating
Adoption is Accelerating “| like bitcoin even more now than | did then. | think we are PayPal launches new service allowing users to buy, hold, and sell cryptocurrency, enabling i ait ieee cryptocurrency as a funding source for digital in the first inning of bitcoin, and it’s got a long way to go.”
Slide 8: Marathon's Growth Strategy
Marathon’‘s Growth Strategy IN THEORY 1. Improve Bitcoin production by increasing hashrate 2. Continue to “de-risk” the business by becoming more resilient to potential declines in price of BTC Power Output More, powerful miners > increased power (hashrate) Increased power > higher probability of ea
Slide 9: Mining - The Engine that Fuels the Bitcoin Ecosystem
Mining - The Engine that Fuels the Bitcoin Ecosystem Mining - A system that adds transactions & provides security to the Bitcoin blockchain; How new bitcoins enter the market How it works Bitcoin transactions are pooled together ina “block” & encrypted by a complex puzzle et) Once a block is formed,
Slide 10: The Path to Profitable Mining
The Path to t 4 Profitable Mining Power Eacteor (hashrate) Production Annual Mining Profitability Marathon fs Controls ;
Slide 11: History of Expansion & Growth
History of Expansion & Growth Began aggressively upgrading mining portfolio with next gen. Eliminated miners long-term debt Purchased 700 M30S+ & 1,1000 S19 Pro miners Increased hashrate 230% after installing 1,360 next gen. miners Announced $23 million contract with Bitmain to purchase 10,500 $19 P
Slide 12: A Key Competitive Advantage
A KEY COMPETITIVE ADVANTAGE Consistent Access to Low-Cost Electricity via Beowulf @® SE0OW ULF PARTNERSHIP ENERGY A Best-in-Class Energy Generation Company * Developed, constructed, acquired, and operated over $5 billion of power generation and industrial assets * Current Portfolio: 2.3 gigawatts of
Slide 13: Priority Access to the Industry's Premier Miners
Priority Access to the Industry's Premier Miners BITMAIN The premier supplier of the industry’s most advanced ASIC miners ¢ Guaranteed, priority access to the industry's top miners decreases risk of supply constraints & creates unique barrier to entry * Fixed price to hedge against anticipated futur
Slide 14: Uniquely Positioned for Long-Term Success
Uniquely Positioned for Long-Term Success PARTNERSHIPS: Marathon has eliminated obstacles 6 BEOWULF faced by most mining companies ewenoy Consistent supply of low-cost electricity FOR MINING: at a fixed rate from an industry leader with skin-in-the-game decreases risk of price increases ($0.028/kWh)
Slide 15: Financial Highlights
Financial Highlights Ww = Ze) $218.4 million in cash & crypto* Improving mining margins *Excludes Marathon’s $150 million © On track to produce 55-60 BTC per day $4,541/BTC Avg. BTC production cost nt in BTC, which as of 3/15/21 was valued at $271 million al Cash flow positive Minimal total liabilit
Slide 16: Predictable Revenue Driving Profitability
Predictable Revenue Driving Profitability HTotal Revenue (§Total Cost Gross Profit $110,000,000 $100,000,000 $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 *Assuming BTC price of $60,000 and difficulty rate as of March 2021
Slide 17: Financials
Financials $218,360,000 Cash & Crypto " 98,804,636 Shares Outstanding Audited balance chest data « 120, 12,500,000 charee wer :250,000,000 and $150 milion wa Summary Balance Sheet Dec. 31, 2020 Cash & cash equivalents $216.1 Digital currencies 2.3 Deposits 65.6 Prepaid expenses & other current asset
Slide 18: Key Investment Highlights
Key Investment Highlights ® 6 es - DY) Exclusive partnerships 6.4% of global ee bitcoin hashrate On track to produce guarantee low energy 55-60 BTC/day at avg. cost & consistent access cost of $4,541/BTC to miners ae me > \y (3) $216.1 M in Cash ia | (@) & $1.5 M in Total Consistent access to Liabil
Slide 19: Contact Us
Contact Us Marathon Patent Group 1180 North Town Center Drive, Suite 100 Las Vegas, NV 89144 Tel: 800-804-1690 info@marasyonpc Gateway Investor Relations Matt Glover’and Charlie Schumacher Telephone: 949-574-3860 Email: MARA@gatewayir.com
Slide 20: Appendix
Appendix
Slide 21: 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 wo
Slide 22: Proven Leadership with Technical Know-How
Proven Leadership with Technical Know-How Manag ement Merrick Okamoto Executive Chairman & CEO Jim Crawford Simeon Salzman Chief Operating Officer Chief Financial Officer Board of Directors
Slide 23: Glossary of Relevant Terminology
Glossary of Relevant Terminology Blockchain - a system in which a record of transactions made in bitcoin or another cryptocurrency are maintained across several computers that are linked in a peer-to-peer network Mining (BTC) - the processing of transactions in the digital currency system, in which
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