Securing & Supporting the
Bitcoin Ecosystem
NASDAQ: MARA | OCTOBER 2022 |
SAFE HARBOR STATEMENT
Statements made in this presentation 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, as amended. 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.
DISCLAIMER
This presentation is not intended to be and should not be considered as forward-looking statements by the Company. It is impossible to forecast what the price of bitcoin, hash rate, or the difficulty rate will be on any specific date, including during 2023, when all the Company's miners are expected to be deployed. This presentation is for illustrative purposes only to provide the reader with an estimate of the Company's potential gross revenue, mining power and hosting costs, which might be attained if all miners were deployed as of a specific date and with certain parameters used, as set forth below. The parameters used were network hash rate projections from BitOoda's research reports and bitcoin price ranging from $19,000 - $40,000.
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, 2021. 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. Lastly, with the current worldwide situation caused by COVID-19, there can be no assurances as to when we may see any long- term sustained recovery in the bitcoin market, and if so, whether any recovery might be significant.
NASDAQ: MARA | OCT 2022 | 2
Recent Company Highlights
TICKER SYMBOL | MARA | RECENT CORPORATE UPDATES |
Share Price | $11.07 | $55.3 Million in Unrestricted Cash |
AS OF SEPT 30, 20222 | ||
Market Cap | $1.3B | $132.9 Million in Unrestricted BTC (6,841 BTC) |
AS OF SEPT 30, 20222 | ||
Shares Issued & Outstanding | 116.8M | 57,000 Miners in Operation 5.7 EH/s |
AS OF OCT 5, 20222 | ||
Avg. Daily Trading Volume | 18.7M | Transitioned Out of Hardin, MT Facility in |
September 2022 | ||
AS OF OCT 19, 20221 | AS OF SEPT 30, 20222 |
NASDAQ: MARA | OCT 2022 | 3
Marathon at-a-Glance
AGILE, SCALABLE, & SUSTAINABLE
OUR MISSION
To support the development and security of the world's first public blockchain (Bitcoin) by building one of the largest, most agile, and most sustainably operated bitcoin mining operations in the world.
OUR STRATEGY
Invest in Miners > Infrastructure
Prioritize efficiency and minimize costs
OUR FOCUS
Increasing hash rate (probability of earning bitcoin)
Growing from 3.7 EH/s in September 2022 to 23 EH/s in mid 2023
OUR IMPACT
Deploying at renewable power stations
On track to be 100% carbon neutral
Returning energy back to the grid in times of crisis
Operating with low costs of power + hosting
Strong relationships with multiple hosting companies and energy providers
PROJECTED HASH RATE GROWTH
23 EH/s Once Fully
Deployed
Increasing hash rate by over 6x from Q3 2022 to MID 2023
13.4 EH/s
11.5 EH/s
3.7 EH/s
Q3 2022 | Q4 2022 | Q1 2023 | MID 2023 | ||
MARA'S CURRENT | MARA'S PROJECTED | ||||
HASH RATE - 9/30/22 | HASH RATE (EH/S) 3 | ||||
NASDAQ: MARA | OCT 2022 | 4
Scale + Low Cost of Operations à
Resilience & Leverage
In 2023, once all 23 EH/s of miners are installed & energized…
Bitcoin "Bear" Case | Base Case | Bitcoin "Bull" Case | |||||||||||||
Potentially Higher BTC Production | Potentially Improved Financial Performance | ||||||||||||||
Price of Bitcoin | $19,200 | Price of Bitcoin | $26,560 | Price of Bitcoin | $38,840 | ||||||||||
Total Network's Hash Rate | 288 EH/s | Total Network's Hash Rate | 332 EH/s | Total Network's Hash Rate | 356 EH/s | ||||||||||
Marathon's % of the Total Bitcoin | 7.9% | Marathon's % of the Total Bitcoin | 6.9% | Marathon's % of the Total Bitcoin | 6.4% | ||||||||||
Network's Hash Rate | Network's Hash Rate | Network's Hash Rate | |||||||||||||
Per Day | Per Month | Per Year | Per Day | Per Month | Per Year | Per Day | Per Month | Per Year | |||||||
BTC | BTC | BTC | |||||||||||||
70 | 2,170 | 26,040 | 61 | 1,880 | 22,560 | 57 | 1,760 | 21,120 | |||||||
Produced | Produced | Produced | |||||||||||||
Revenue | $1.4M | $41.7M | $500.4M | Revenue | $1.65M | $50.0M | $600.5M | Revenue | $2.2M | $68.2M | $818.9M | ||||
*See slide 33 for detailed overview of assumptions.
NASDAQ: MARA | OCT 2022 | 5
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Marathon Digital Holdings Inc. published this content on 19 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2022 01:28:55 UTC.