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Marathon Digital to Acquire Bitcoin Mining Sites From Generate Capital
- Client News
- December 19, 2023
Paul, Weiss is advising Marathon Digital Holdings, Inc., a leader in supporting and securing the Bitcoin ecosystem, in its all-cash acquisition of two Bitcoin mining sites from subsidiaries of Generate Capital for approximately $179 million. The transaction represents Marathon’s first fully owned sites and marks the company’s official transition from an asset-light organization to one that manages a diversified and resilient portfolio of Bitcoin mining operations. The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions.
The Paul, Weiss team is led by Andrew Krause and Krishna Veeraraghavan and includes tax partner Brian Krause; intellectual property partner Jonathan Ashtor; executive compensation partner Rebecca Coccaro and counsel Christopher Gonnella; litigation counsel Steven Herzog; antitrust counsel Marta Kelly; and environmental counsel William O’Brien.