Abu Dhabi joint venture formation
Company: Marathon Digital - Project: Abu Dhabi
The claim, verbatim
Marathon and FS Innovation entered into shareholders agreement January 27, 2023 to jointly establish and operate mining facilities in Abu Dhabi with Marathon owning 20% equity
Source (primary)
Marathon Digital 10-K filed 2023-03-16 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “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... 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 document establishes the January 27, 2023 agreement, the parties, the joint purpose, and the 80/20 equity split.
Confirmed in the source:
- Marathon and FS Innovation, LLC entered into a Shareholders' Agreement on January 27, 2023
- The agreement concerns forming an Abu Dhabi entity to jointly establish and operate mining facilities and mine digital assets
- Marathon's equity ownership in the ADGM Entity is 20% (with FSI holding 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: “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... the initial equity ownership in the ADGM Entity shall be 80% FSI and 20% the Company”