Marathon Digital Holdings, Inc. (MARA) 26th Annual Needham Growth Virtual Conference


Marathon Digital Holdings, Inc. (NASDAQ:MARA) 26th Annual Needham Growth Virtual Conference January 18, 2024 3:45 PM ET

Company Participants

Salman Khan – Chief Financial Officer

Chris Brendler – Head of Investor Relations

Conference Call Participants

Unidentified Analyst

Okay. Cool. I think these are on now. Great, so I think everyone in the room, knows me at this point, but we’re joined by the folks at Marathon. We have, Salman Khan, CFO; Chris Brendler, Head of IR at Marathon. Super excited to have him. Obviously, one of the largest miners and I believe, the second largest holder of Bitcoin out there after…

Salman Khan

That’s right.

Unidentified Analyst

Yeah. So…

Salman Khan

The largest in mining space.

Unidentified Analyst

Yes, the largest in mining.

Question-and-Answer Session

Q – Unidentified Analyst

Great, well, I guess, first off, we’ve seen a number of miners come through. What would love to just kind of take a step back though, hear about Marathon overall, maybe the evolution of the business, and then where you guys differentiate? So I think a lot of investors look at the space and think, hey, look this is a very commoditized space. Where can you gain an edge?

Salman Khan

Yes. Marathon, first of all, thanks for having us here. It’s been a great day today. Marathon is the largest, publicly traded Bitcoin miner and we are a truly global company. We have operations in the United States, in Texas, Nebraska, North Dakota, and then overseas in Abu Dhabi and Paraguay. And the company has grown exponentially over the last few years. We have followed something called asset light strategy, where we have invested our capital in miners and saved about 30% to 40% capital on the infrastructure side and instead hosted our machines at third-party sites. And that has given us that upside as the Bitcoin price goes up our fixed — cost structure remains fixed and as


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