LAS VEGAS, Nov. 08, 2021 (GLOBE NEWSWIRE) — Marathon Digital Holdings, Inc. (NASDAQ:MARA) (“Marathon” or “Firm”), one of many largest enterprise Bitcoin self-mining corporations in North America, right this moment introduced that the Firm has appointed Adam Swick as vice chairman of technique. Swick, who’s a non-executive officer, will report back to CEO Fred Thiel and shall be chargeable for evaluating alternatives to assist develop the Firm via enterprise technique, strategic partnerships, M&A exercise, and different means.
Swick is an skilled investor, startup operator, and administration guide with intensive expertise in company technique and cryptocurrency. Previous to becoming a member of Marathon, he served as a principal at Refinery Ventures, an early stage VC agency, the place he was chargeable for figuring out, analyzing, and recommending enterprise methods to speed up the expansion of all corporations in Refinery’s portfolio. Earlier than Refinery, Swick was the director of strategic finance at Kraken Digital Asset Change, the place he managed the corporate’s stability sheet, debt program, investor relations, and all forecasting actions. Previous to Kraken, he based Swick Capital, a crypto-asset hedge fund, labored at Pritzker Group Enterprise Capital in Chicago, the place he evaluated early stage funding alternatives, and was a guide at Boston Consulting Group, the place he consulted for quite a lot of Fortune 500 shoppers in industries similar to healthcare, client items, data expertise, and nonprofits. Swick holds an MBA from the Kellogg Faculty of Administration at Northwestern College and a BS in finance from the Wharton Faculty of Enterprise on the College of Pennsylvania.
“As Marathon strengthens its place as one of many main bitcoin miners in North America, we’re persevering with to discover new technique of rising our enterprise and enhancing our operational effectivity,” mentioned Fred Thiel, Marathon’s CEO. “Adam has been concerned in cryptocurrency since 2013 and mining since early 2017. His ardour for bitcoin mining and the experience and strategic pondering he has developed over his profession uniquely align with our Firm’s mission and priorities. We’re very happy to have him be part of Marathon, and on behalf of our total group, I’d wish to formally welcome him aboard.”
Swick commented, “Marathon is rapidly rising as one of many extra outstanding corporations in Bitcoin. Given the Firm’s profitable observe file and the expansion it’s present process over the subsequent yr, it’s an extremely thrilling time to be becoming a member of the group. I stay up for working alongside the administration group to assist propel Marathon to the subsequent degree.”
Investing in our securities entails a excessive diploma of danger. Earlier than investing resolution, it’s best to rigorously think about the dangers, uncertainties and forward-looking statements described below “Danger Components” in Merchandise 1A of our most up-to-date Annual Report on Kind 10-Okay for the fiscal yr ended December 31, 2020. If any of those dangers have been to happen, our enterprise, monetary situation or outcomes of operations would doubtless undergo. In that occasion, the worth of our securities might decline, and you could possibly lose half or your entire funding. The dangers and uncertainties we describe will not be the one ones going through us. Extra dangers not presently recognized to us or that we at the moment deem immaterial can also impair our enterprise operations. As well as, our previous monetary efficiency will not be a dependable indicator of future efficiency, and historic traits shouldn’t be used to anticipate outcomes sooner or later. Future adjustments within the network-wide mining issue charge or Bitcoin hash charge can also materially have an effect on the longer term efficiency of Marathon’s manufacturing of Bitcoin. Moreover, all discussions of monetary metrics assume mining issue charges as of November 2021. The overall community’s hash charge knowledge is calculated from a third-party supply, which is accessible right here: https://www.blockchain.com/charts/hash-rate. Knowledge from third-party sources has not been independently verified. See “Secure Harbor” under.
Statements made on this press launch embrace forward-looking statements throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934. Ahead-looking statements might be recognized by means of phrases similar to “could,” “will,” “plan,” “ought to,” “count on,” “anticipate,” “estimate,” “proceed,” or comparable terminology. Such forward-looking statements are inherently topic to sure dangers, traits and uncertainties, a lot of which the Firm can’t predict with accuracy and a few of which the Firm may not even anticipate and contain components which will trigger precise outcomes to vary materially from these projected or instructed. Readers are cautioned to not place undue reliance on these forward-looking statements and are suggested to think about the components listed above along with the extra components below the heading “Danger Components” within the Firm’s Annual Stories on Kind 10-Okay, as could also be supplemented or amended by the Firm’s Quarterly Stories on Kind 10-Q. The Firm assumes no obligation to replace or complement forward-looking statements that develop into unfaithful due to subsequent occasions, new data or in any other case.
About Marathon Digital Holdings
Marathon is a digital asset expertise firm that mines cryptocurrencies with a deal with the blockchain ecosystem and the era of digital property.
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