Marathon Digital Holdings, INC.: directors' dealings · United States · SEC (Form 4)

About Marathon Digital Holdings, INC.

MARATHON DIGITAL HOLDINGS, INC., now operating as MARA Holdings, Inc., is a U.S.-listed company trading on NASDAQ under the ticker MARA. For French-speaking investors, MARA is best understood as a U.S. digital infrastructure and energy-compute platform whose historical core has been Bitcoin mining, but whose strategy is increasingly broader: energy optimization, data-center ownership, and high-performance computing/AI infrastructure. The company was founded in 2010 and is headquartered in Fort Lauderdale, Florida, United States. At its core, MARA’s business model is built around Bitcoin mining and the monetization of underutilized or flexible energy assets. The company emphasizes a vertically integrated approach: deploying high-intensity compute to convert electricity into digital assets, while also managing power more efficiently across its own and partner infrastructure. In parallel, MARA actively manages its Bitcoin treasury, holding a large balance of Bitcoin on its balance sheet and selectively monetizing part of those holdings when it believes that supports liquidity, capital allocation, or shareholder value. Recent filings also show that the company is increasingly positioning itself as a broader digital energy platform rather than a pure-play miner. In competitive terms, MARA remains one of the most recognizable and largest publicly traded Bitcoin miners in the United States. Its scale, brand visibility, and access to energy-advantaged sites are important differentiators, particularly in a sector where economics are highly sensitive to power costs, uptime, fleet efficiency, and Bitcoin price dynamics. The company’s business now extends beyond simple mining toward a more diversified infrastructure footprint that includes owned and operated data centers, power assets, and investments in AI/HPC-related capabilities. Geographically, MARA has evolved into a more international platform. Its public reporting indicates operations and assets across North America, Europe, the Middle East, and Latin America, underscoring a strategy of expanding beyond the U.S. core market. In addition to U.S. mining and data-center operations, the company has been building exposure to international infrastructure and enterprise-grade compute. Key offerings include Bitcoin mining, data-center operations, infrastructure optimization technologies, and enterprise-oriented cloud/AI capabilities. A major recent milestone was the acquisition of a majority interest in Exaion, a French company specializing in high-performance computing data centers and secure cloud and AI infrastructure; the deal closed in February 2026. Another notable 2026 development was MARA’s definitive agreement to acquire Long Ridge in Ohio, a vertically integrated gas and power business, which supports the company’s strategy of securing reliable, power-rich infrastructure. Overall, MARA’s recent trajectory suggests a company moving from pure Bitcoin mining toward a broader energy-and-compute platform with optionality in AI and digital infrastructure.