Matagorda contract has no obligations until ERCOT Batch Zero approval
Company: Marathon Digital
The claim, verbatim
Thiel said the Matagorda contract is unchanged and was structured with no obligations until ERCOT's Batch Zero process is fully approved.
Source (primary)
[MARA Holdings Q3 2026 Earnings Call] MARA Posts $632M Net Income Despite 35% Revenue Drop, Unveils $500M Buyback and $1.1B Bitcoin Sale to Slash Debt 37% - BigGo Finance (-, news_article)
View cached copy (2026-11-10)Live source ↗Archive.org ↗
Quote: “structured with no obligations until ERCOT's Batch Zero process is fully approved”
How we checked this
Checked on November 11, 2026. The cited source supports every part of this claim.
The document reports Thiel saying both things in response to an analyst's question about Matagorda.
Confirmed in the source:
- Thiel said the Matagorda contract is unchanged
- Thiel said the Matagorda contract was structured with no obligations until ERCOT's Batch Zero process is fully approved
What we did: Read our cached copy of the publisher (https://finance.biggo.com/news/US_MARA_2026-11-09) in full (12,616 characters, retrieved November 10, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms [MARA Holdings Q3 2026 Earnings Call] MARA Posts $632M Net Income Despite 35% Revenue Drop, Unveils $500M Buyback and $1.1B Bitcoin Sale to Slash Debt 37% - BigGo Finance
Quote: “structured with no obligations until ERCOT's Batch Zero process is fully approved”