Marathon Digital, a global leader in digital asset compute, has faced a significant legal challenge with a jury verdict awarding $138.8 million to plaintiff Michael Ho for breach of a non-disclosure agreement. Despite this, the company has not paid any portion of the award and is actively seeking to overturn or significantly reduce the damage award. In business development, Marathon Digital has made strategic moves, including securing rights to future purchases from Auradine for $15.0 million and investing a total of $50.7 million in Auradine preferred stock. The company also acquired two operational data centers in Ohio and is developing a new 150-megawatt operation in Findlay, Ohio. Financially, Marathon Digital's cash and cash equivalents have decreased year-on-year from $357.3 million...Show More

Marathon Digital, a global leader in digital asset compute, has faced a significant legal challenge with a jury verdict awarding $138.8 million to plaintiff Michael Ho for breach of a non-disclosure agreement. Despite this, the company has not paid any portion of the award and is actively seeking to overturn or significantly reduce the damage award. In business development, Marathon Digital has made strategic moves, including securing rights to future purchases from Auradine for $15.0 million and investing a total of $50.7 million in Auradine preferred stock. The company also acquired two operational data centers in Ohio and is developing a new 150-megawatt operation in Findlay, Ohio. Financially, Marathon Digital's cash and cash equivalents have decreased year-on-year from $357.3 million to $164.3 million. However, the company has secured a $200.0 million line of credit, collateralized by its bitcoin holdings, which was fully utilized as of October 17, 2024. Marathon Digital holds approximately 26,747 bitcoin, valued at $1.7 billion, and intends to continue investing in bitcoin while diversifying with Kaspa coin holdings. The company's future plans include doubling its compute capacity and focusing on self-owned and operated sites to enhance its portfolio.