Marathon Digital Holdings Donates to Summer of Bitcoin 2022

LAS VEGAS, Dec. 21, 2021 (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 that the Company has provided a donation to Summer of Bitcoin 2022, a global summer internship program focused on introducing university students to Bitcoin and open-source development. Marathon’s donation is expected to fund multiple student projects, each of which is intended to support the development of the Bitcoin network.

“As one of the leading Bitcoin miners in North America, we believe it is important that we do our part to help support the broader Bitcoin ecosystem, which includes sponsoring new developers who can contribute to Bitcoin’s open-source software and other related projects,” said Fred Thiel, Marathon’s CEO. “The platform that Adi and the rest of his team at Summer of Bitcoin have built encourages aspiring developers to better themselves by gaining a new skillset and tangible work experience in our rapidly growing industry, while simultaneously contributing to Bitcoin’s development. It is our hope that our donation will help encourage new talent to support Bitcoin and ultimately strengthen the network.”

Adi Shankara, director of Summer of Bitcoin, commented, “Summer of Bitcoin serves to introduce new developers to Bitcoin, to teach them how to contribute to Bitcoin projects, and ultimately to help them build a career in Bitcoin. Without the generous support of companies like Marathon, we would not be able to fund our students’ projects. We are incredibly grateful for their donation and for the contribution they have made to furthering our mission.”

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, 2020. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or Bitcoin hash rate may also materially affect the future performance of Marathon's production of Bitcoin. Additionally, all discussions of financial metrics assume mining difficulty rates as of December 2021. The total network’s hash rate data is calculated from a third-party source, which is available here: https://www.blockchain.com/charts/hash-rate. Data from third-party sources has not been independently verified. See "Safe Harbor" below. 

Forward-Looking Statements 
Statements made in this press release 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. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

About Marathon Digital Holdings 
Marathon is a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets.

Marathon Digital Holdings Company Contact: 
Charlie Schumacher
Telephone: 800-804-1690
Email: charlie@marathondh.com 

Released December 21, 2021