Abu Dhabi Global Markets mining joint venture with FS Innovation
Company: Marathon Digital - Project: Abu Dhabi
The claim, verbatim
Marathon and FS Innovation entered into shareholders agreement on January 27, 2023 to form an Abu Dhabi Global Markets company to establish and operate digital asset mining facilities, with Marathon owning 20% equity and FSI owning 80%
Source (primary)
Marathon Digital 10-K filed 2023-03-16 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “On January 27, 2023, the Company and FS Innovation, LLC ("FSI") entered into a Shareholders' Agreement (the "Agreement") regarding formation of an Abu Dhabi Global Markets company (the "ADGM Entity"), whose purpose shall be to jointly (a) establish and operate one or more mining facilities for digital assets; and (b) mine digital assets (collectively, the "Business")... the initial equity ownership in the ADGM Entity shall be 80% FSI and 20% the Company”
How we checked this
Checked on September 21, 2026. The cited source supports every part of this claim.
The 10-K states all elements: the January 27, 2023 agreement with FSI, its mining purpose, and the 80% FSI / 20% Marathon ownership split.
Confirmed in the source:
- Marathon and FS Innovation, LLC (FSI) entered into a Shareholders' Agreement on January 27, 2023
- The agreement concerns formation of an Abu Dhabi Global Markets company to establish and operate digital asset mining facilities and mine digital assets
- Marathon owns 20% equity and FSI owns 80%
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1507605/000149315223007879/form10-k.htm) in full (445,884 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Marathon Digital 10-K filed 2023-03-16
Quote: “On January 27, 2023, the Company and FS Innovation, LLC ("FSI") entered into a Shareholders' Agreement (the "Agreement") regarding formation of an Abu Dhabi Global Markets company (the "ADGM Entity"), whose purpose shall be to jointly (a) establish and operate one or more mining facilities for digital assets; and (b) mine digital assets (collectively, the "Business")... the initial equity ownership in the ADGM Entity shall be 80% FSI and 20% the Company”