Bitcoin miner Marathon Digital Holdings announced yesterday in a press release a new facet to its collaboration with institutional bitcoin services provider NYDIG. The expanded partnership will now allow all members of Marathon's bitcoin mining pool, MaraPool, to access NYDIG's products and services tailored to miners, including equipment procurement, financing, advisory services, and investment vehicles.
"NYDIG has been an important collaborator of ours, providing a variety of treasury management and trading services, including facilitation of the purchase of 4,812.66 bitcoins in January," said Fred Thiel, Marathon's CEO, per the release. "[By] collaborating with NYDIG on our mining pool, we have enabled all members of our pool to have access to the same world class solutions and expertise from which Marathon has benefitted."
MaraPool is a U.S.-based bitcoin mining pool owned by Marathon that will begin accepting applications from other bitcoin mining companies based in the U.S. in late September. The pool, which focuses on carbon-neutral mining, provides its members with a suite of services and products. Now, NYDIG, which specializes in offering bitcoin investment and technology solutions to banks, corporations, institutions, and high-net-worth individuals, will further increase the offerings MaraPool provides its members with.
The technology and financial services firm dedicated to Bitcoin will enable miners in the pool to purchase new machinery at competitive rates, access secure and flexible funding by posting assets as collateral, and generate income on their bitcoin with yield generation. Additionally, NYDIG will provide miners the ability to hold their bitcoin directly or through select investment vehicles and leverage the company's expertise on tax, valuation, and accounting services with white glove customer experience.
"We are very pleased to be expanding our work with Marathon to provide all members of MaraPool with access to NYDIG's robust suite of products and services tailored specifically for the complex needs of bitcoin miners," said Robert Gutmann, co-founder and CEO of NYDIG.