Marathon Digital Holdings (MARA) Appoints Ashu Swami as CTO

January 26, 2022 4:06 PM EST

Marathon Digital Holdings, Inc. (NASDAQ: MARA), one of the largest enterprise Bitcoin self-mining companies in North America, today announced that the Company has appointed Ashu Swami as chief technology officer. Swami will be responsible for overseeing and expanding the Company’s technical operations, ensuring rigorous security measures are met across the organization, and providing technical guidance.

Swami is an experienced chip designer and crypto and DeFi expert, who brings to Marathon deep technical, regulatory, and market expertise. Swami joins Marathon Digital Holdings from Core Scientific, where he served as the chief product officer, leading the company’s foray into DeFi and heading mining hardware and software optimization. Prior to that, he was the CTO of Apifiny, a hybrid CEX and DEX crypto exchange. Previously, Swami headed an SPV of Quadeye Securities, which pioneered and traded mining swaps, operated cloud mining data centers, and served as the chief advisor to Fortune 50 companies, including Intel Corp, on blockchain initiatives. He also founded LocalPad, a peer-to-peer marketplace and payments plugin that provided “ebay-in-a-box” like functionality to large blogs to monetize their user base. Prior to that, Swami was a portfolio manager and led the high frequency market-making business at Morgan Stanley Program Trading to become a top five market maker in US ETFs. Additionally, he spent over four years as a senior component designer and then tech lead in Intel’s Enterprise Platforms Group. Swami holds three patents in blockchain and trading, an MBA from the Fuqua School of Management at Duke University, and a BTech in computer science from the Indian Institute of Technology, Bombay.

“Although Marathon is already established as one of the leading bitcoin miners in the world, we believe it is critical to add technical leaders to our team who can help propel Marathon to the next level through consistent innovation,” said Fred Thiel, Marathon’s chairman and CEO. “Over the course of his career, Ashu has developed diverse expertise that are uniquely pertinent to Marathon’s current and future growth plans, and we believe that his proven track record of helping organizations stay on the cutting edge of bitcoin mining technology will prove valuable to our organization. On behalf of our entire team, I would like to officially welcome him to Marathon.”

Swami commented, “Marathon’s position reflects the team’s ability to think ahead and implement creative strategies that have not only helped scale the business but that have set the tone for the rest of the bitcoin mining industry. I look forward to continuing that trend to help Marathon expand its position as one of the leading companies in our field.”

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