Mara Holdings, Inc. · NASDAQ:MARA
Mara — Marathon Patent Group — Investor Presentation (November 2020)
24 slides from Mara's investor presentation, Nov 18, 2020
Slide 1: America's Leading Enterprise Bitcoin Miner
Wy Building MARATHON America’s Leading Enterprise Bitcoin Miner Nasdaq: MARA November 2020
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 $500,000 to $8,800,000 by Q2 2021 by... go AGGRESSIVELY INCREASING MINING POWER (probability of earning Bitcoin) © REDUCING bitcoin production co
Slide 3: Owning Bitcoin can feel complicated
Owning Bitcoin can feel complicated. How do | exchange it? How should | store it? Whatis 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 exch
Slide 4: Exposure to "Digital Gold" is Simple
Exposure to “Digital Gold” is Simple Just like with physical gold, you can... Purchase the Invest ina Buy into asset itself producer an ETF (i.e., miner) ) &) GRAYSCALE BITCOIN TRUST MARATHON BTC Nasdaq: MARA OTC: GBTC
Slide 5: Marathon Creates Opportunities for Alpha
Marathon Creates Opportunities for Alpha A One Month Case Study From July 17, 2020 to Aug. 17, 2020* BTC: Up 34% from $9,156 to $12,283 GBTC: Up 55% from $9.54 to $14.75 MARA: Up 313% from $0.90 to $3.72 ——BTC ——MARA =—=GBTC *All percentage changes calculated from closing prices Sources: CapitallQ a
Slide 6: 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 . ahi ia cryptocurrency as a funding source for digital in the first inning of bitcoin, and it’s got a long way to go.” pe
Slide 7: Marathon's Growth Strategy
Marathon’‘s Growth Strategy IN THEORY ile 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 e
Slide 8: Mining - The Engine that Fuels the Bitcoin Ecosystem
Mining - The Engine that Fuels the Bitcoin Ecosystem Mining - A system that adds transactions A Miner - computer designed to y: & provides security to the Bitcoin blockchain; solve a mathematical algorithm (i.e., the How new bitcoins enter the market Bitcoin code) How it works ed Bitcoin transaction
Slide 9: The Path to Profitable Mining
The Path to t 4 Profitable Mining Power Easter (hashrate) Production Annual Mining Profitability Marathon fe Controls
Slide 10: History of Expansion & Growth
History of Expansion & Growth Increased Began Closed $6.9 hashrate 230% aggressively million public after installing Additional 10,000 upgrading offering & 1,360 next 5-19 Pro Miners mining portfolio Eliminated purchased 700 gen. miners purchased from . 3 with next gen. engin M31S+ miners Bitmain de
Slide 11: A Key Competitive Advantage
A KEY COMPETITIVE ADVANTAGE Consistent Access to Low-Cost Electricity via Beowulf AS A RESULT @ SEOWULE PARTNERSHIP Marathon’s profitability tT & risk 4 . A ini A Best-in-Class Energy Generation Company Electricity lets ee “e * Developed, constructed, acquired, and operated over decreaseto data cent
Slide 12: 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 13: Uniquely Positioned for Long-Term Success
Uniquely Positioned for Long-Term Success Marathon has eliminated obstacles faced by most mining companies FOR MINING: * Scale is paramount * Access to capital is imperative Public company structure allows the ability to act opportunistically & scale effectively Since May 1, 2020, invested over $72
Slide 14: Marathon's Mining Portfolio
Marathon’s Mining Portfolio If all miners were deployed today*... 23,560 miners producing 2,558/Ph 2.0% of global bitcoin hashrate 15-20 Bitcoins per day at an avg. cost of $3,863/BTC $8.8 million in revenue per month $6.7 million in gross profit per month *Assuming BTC price of $16,000 and difficul
Slide 15: Financial Highlights
Financial Highlights WwW += Ze) $24.8 million in cash & crypto Hn Improving mining margins On track to produce 15-20 BTC per day $3,863/BTC Avg. BTC production cost ull Cash Flow Positive & No long-term debt All figures as of November 2020
Slide 16: Scaling as Bitcoin Appreciates
Scaling as Bitcoin Appreciates If all miners were deployed today*, and Bitcoin’s price was... $14,000/BTC 23,560 miners producing 2,558/Ph 2.0% of global bitcoin hashrate cost of $3,863/BTC $7.7 million in revenue per month $5.6 million in gross profit per month *Assuming difficulty rates as of Nov.
Slide 17: Predictable Revenue Driving Profitability
Predictable Revenue Driving Profitability HTotal Revenue (Total Cost Gross Profit $9,000,000 $8,000,000 oy $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 —— mee Bo * L Li La o oP 4 : : PF PP s 2 a 9 3 *Assuming BTC price of $16,000 and difficulty rate as of Nov. 2020
Slide 18: Unaudited Balance Sheet
Unaudited Balance Sheet $24,827,962 Cash & Digital Currencies 51,599,792 Shares Outstanding 861,874 Manageme! $56,095,464 Stockholders’ Equity $50,841,995 Working Capital Unaudited balance sheet data as of 11/5/2020; Management's shares from CapitallO Summary Balance Sheet $ Millions Nov. 5, 2020 Ca
Slide 19: Key Investment Highlights
Key Investment Highlights 9 2.0% of global bitcoin hashrate ae $24.6 M in Cash & $0 Debt ea Exclusive partnerships guarantee low energy cost & consistent access to miners On track to produce 15-20 BTC/day at avg. cost of $3,863/BTC Consistent access to Growth strategy + low energy cost > capital in
Slide 20: Marathon Patent Group
Marathon Patent Group 1180 North Town Center Drive, Suite 100 Las Vegas, NV 89144 Tel: 800-804-1690 Contact Us info@marathonpg.com Gateway Investor Relations Matt Glover’and Charlie Schumacher Telephone: 949-574-3860 Email: MARA@gatewayir.com
Slide 21: Appendix
Appendix
Slide 22: 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 23: Proven Leadership with Technical Know-How
Proven Leadership with Technical Know-How Management F Nek okanate Jim Crawford Simeon Salzman SS nae Chief Operating Officer Chief Financial Officer Board of Directors
Slide 24: 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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