Marathon Digital Holdings Inc. is a digital asset technology company that focuses on cryptocurrency mining. The company was originally founded in 2010 under the name American Strategic Minerals Corporation, with a primary focus on exploring and developing strategic metal deposits. However, in 2017, the company shifted its focus to the cryptocurrency industry and changed its name to Marathon Patent Group. In 2021, it further rebranded to Marathon Digital Holdings Inc. to better reflect its core business. Marathon Digital Holdings is listed on the NASDAQ stock exchange under the ticker symbol "MARA."
Marathon Digital Holdings is primarily involved in Bitcoin mining, which is the process of validating and recording transactions on the Bitcoin network. The company operates a fleet of specialized mining hardware that performs complex calculations to solve mathematical problems and secure the network. By successfully solving these problems, Marathon earns new bitcoins as a reward.
As Bitcoin mining is extremely energy intensive, Marathon is its commitment to renewable energy. The company has made significant efforts to use clean and sustainable energy sources to power its mining operations. It has partnered with energy providers to access low-cost electricity from renewable sources, such as wind and solar. This initiative demonstrates Marathon's dedication to reducing the environmental impact of cryptocurrency mining.
The company utilizes the latest Application-Specific Integrated Circuit (ASIC) mining machines, specifically designed for Bitcoin mining. These machines are highly efficient and powerful, enabling Marathon to mine bitcoins at a competitive rate. Marathon's mining facilities are strategically located in areas with favorable conditions for mining, such as access to renewable energy sources and low-cost electricity.