Marathon Digital Holdings Closes Acquisition of a 200-Megawatt Bitcoin Mining Data Center Adjacent to a Wind Farm

Fort Lauderdale, FL, April 02, 2024 (GLOBE NEWSWIRE) — Marathon Digital Holdings, Inc. (NASDAQ:MARA), one of the world’s largest publicly traded Bitcoin miners and a leader in supporting and securing the Bitcoin ecosystem, has closed its previously announced acquisition of a Bitcoin mining data center in Garden City, Texas, with a name plate capacity of 200 megawatts, from Applied Digital Corporation.

“With the closing of this acquisition, we have gained more influence over our operations, an opportunity to reduce our cost per coin at this site, and an additional 100 megawatts of capacity in which to expand,” said Fred Thiel, Marathon’s chairman and CEO. “Following the anticipated expansion of this site later in the year, our Bitcoin mining portfolio will consist of 1.1 gigawatts of capacity, 54% of which we will directly own and operate, and all of which are diversified across eleven sites on three continents. With orders and options for machines that represent an additional 45 exahash of capacity already placed, and with the acquisition of our third Bitcoin mining site now complete, we believe we have a clear path to reach our growth targets of 35 to 37 exahash this year and 50 exahash next year.”

Wes Cummins, CEO and chairman of Applied Digital, commented, “The Bitcoin mining data center in Garden City, Texas is state-of-the-art and a testament to the quality of Applied Digital’s infrastructure. With this transaction now closed, both Marathon and Applied Digital are better positioned to pursue their long-term strategies.”

About Marathon Digital Holdings
Marathon is a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem. The Company is currently in the process of becoming one of the largest and most sustainably powered Bitcoin mining operations in North America.