FS Innovation Abu Dhabi digital asset mining joint venture
Company: Marathon Digital - Project: Abu Dhabi
The claim, verbatim
Shareholders' Agreement with FS Innovation to form Abu Dhabi Global Markets company for digital asset mining with initial 250 megawatt project comprising two mining sites in Abu Dhabi. Marathon to own 20% equity stake. Estimated aggregate capital contributions of approximately $406 million to be made during 2023 development period.
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... whose purpose shall be to jointly establish and operate one or more mining facilities for digital assets. The initial project by the ADGM Entity shall consist of two digital asset mining sites comprising 250 MW in Abu Dhabi, and the initial equity ownership in the ADGM Entity shall be 80% FSI and 20% the Company, and capital contributions will be made, subject to the satisfaction or waiver of certain conditions, during the 2023 development period in those proportions, consisting of both cash and in kind, in amounts of approximately $406,000 thousand in aggregate.”
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Additional evidence
confirms Marathon Digital 10-K filed 2023-03-16
Quote: “the Company and FS Innovation, LLC ("FSI") entered into a Shareholders' Agreement... whose purpose shall be to jointly establish and operate one or more mining facilities for digital assets. The initial project by the ADGM Entity shall consist of two digital asset mining sites comprising 250 MW in Abu Dhabi, and the initial equity ownership in the ADGM Entity shall be 80% FSI and 20% the Company, and capital contributions will be made, subject to the satisfaction or waiver of certain conditions, during the 2023 development period in those proportions, consisting of both cash and in kind, in amounts of approximately $406,000 thousand in aggregate.”