In re Marathon Digital Holdings, Inc. Derivative Litigation — Entry #87: DECLARATION of Kimberly P
Case: In re Marathon Digital Holdings, Inc. Derivative Litigation nvd · 2:23-cv-01055
filed July 08, 2023
What this document is
Docket entry #87 · filed May 20, 2025
DECLARATION of Kimberly P. Stein re 86 Motion to Dismiss, by Defendants Doug Mellinger, Frederick G. Thiel, Hugh J. Gallagher, Merrick Okamoto, Simeon Salzman, Georges Antoun, Kevin Denuccio, Sarita James, Jay Leupp, Said Ouissal, Nominal Defendant Marathon Digital Holdings, INC.. (Attachments: # 1 Exhibit Ex. A - Motion to Dismiss Second Amended Complaint, # 2 Exhibit Ex. B - Motion to Dismiss Second Amended Complaint, # 3 Exhibit Ex. C - Motion to Dismiss Second Amended Complaint, # 4 Exhibit Ex. D - Motion to Dismiss Second Amended Complaint, # 5 Exhibit Ex. E - Motion to Dismiss Second Amended Complaint, # 6 Exhibit Ex. F - Motion to Dismiss Second Amended Complaint)(Stein, Kimberly) (Entered: 05/20/2025)
Who is involved
- Marathon Digital Holdings, INC. (Nominal Defendant) [tracked: Marathon Digital]
- Dennis Jaffee (Plaintiff)
- Doug Mellinger (Defendant)
- Frederick G. Thiel (Defendant)
- Gary Konigsberg (Plaintiff)
- Georges Antoun (Defendant)
- Hugh J. Gallagher (Defendant)
- Jay Leupp (Defendant)
- Kevin Denuccio (Defendant)
- Merrick Okamoto (Defendant)
- Said Ouissal (Defendant)
- Sarita James (Defendant)
- Simeon Salzman (Defendant)
- Steve Hood (Plaintiff)
Why we have it
We follow this case because a company we track is a party: Marathon Digital (listed as “Marathon Digital Holdings, INC.”). We checked the full party list on September 10, 2026 and confirmed the match.
We bought this filing from PACER (the federal courts’ paid records system) for $0.90 on October 01, 2026; the purchase also placed it in the free RECAP archive for everyone.
Document text
9 page(s), 26,462 characters, converted from the PDF's text layer · plain text.
Full text
Case 2:23-cv-01055-RFB-BNW Document 87-2 Filed 05/20/25 Page 1 of 9
EXHIBIT B
March 16, 2023 Marathon Articles of
Incorporation
Exhibit B 001
Case 2:23-cv-01055-RFB-BNW Document 87-2 Filed 05/20/25 Page 2 of 9
STAT E OF NE VADA
RO MJL!..£R S OT"J' W ANDEl?SON
S""'"'·" ',l' ef S10,,, D,prliy ,' itxrl!!Dry
fo,. c,,,,.,,. -·era/ R;;rordiog,
Ceritified Co py
December 7, 2011
Job umber : C20111207-1755
Reference umber:
Expedite:
Through Date:
The undersigned filing officer hereby certifies that the attached copies are true and exact
copies of al l requested statements and elated ubsequent documeniation filed v.rith 1he
Secretary of Slate' s Office, Commercial Recordings D ivi ion listed on the auached
repon .
Docum eiit umber(s) DescriJ)tio n Number of Pages
20110863585 -99 Amended & Restated Arti cles 7 Pages/ I Copies
Respectfully,
/:;;.;: ~
ROSS MILLER
ecretary of rate
Ce rtified By : Richarrd Sifuentes
CerHficate Number: C20111 207-1755
You may verify this certillcate
online at http://Www.nvsos.gov/
Commercial Re.col'ding Dfri~iH
202 N. DrSon Street
Carson City, Nc":ad::i S9701-4069
Telephone (77j) 684-5708
ax (175)684-7138
1
Exhibit B 002
Case 2:23-cv-01055-RFB-BNW Document 87-2 Filed 05/20/25 Page 3 of 9
ROSS Jl[li.l.EFI
Stlc!ftl!}' OI t,i.11
204 Norlh GatMlrl Stlft1,, Snlle i
Cffli:>n Cl!)', Nev~d• 811701-4520
[775) &a,t.5108
Web11t<!: _....nweo&.g<l~
Filed in !he office of Doa,..,.,. Nurnt.:.r
Certificate to Accompany .,., :-L- ~ ]?~ ~~8!~!!5-99
Ross Miller 12/07/2011112:45 PM
Restated Articles or ecrel:m· of !ale Emily Nut.nltt.'>f
tate of Nevada
Amended and Restated Articles E0079682010-9'
(PURSUANT TO NRS)
At~IIPACl!IIS fOflQHie1:u&liOri1.V
~~- JN1( 0NU • IIO 1'QT1'1Glil:IGIIT
Ihfl f9fffl ll toASFP('JPIDY B!&tattd Art~IUQ[ emfftdtcl IOd BMtllad An!Cltl or IOC9FP9CJIIOD
1
{:l>urtllllRI lo NFIS 7ll.40a, 82.371 , IIUZ1, 117A, 88.3!5 O! $SA._~
t.T~ls klrm ,1t.111to 10 be uMd ta aC>C0fflllJI'!~ A-t.a AlldclH a, .ArMJ1CIOII and FINUJIOII Acrlleiln !Cit U,"111,HJabilllY
cornpa~, Ce'li!Jeatn OI Llffllllld PartMn1'11i,, Llmitedsl.l:ablllty llmitwl P•l1ri.n.blps _,,d BJaimn T™"sl
1, N•"'e of N..."11. enl ty 85 IHI ~t:Qrnt:d Int~~ ollloo::
\ 'i.irvc Vt.'fltlln.~ l.111:.
D R■st~ICI
2. Th@ aJlltl"" ••e: (m•cle o<'lfr ,;,,e ti<!>:) IXl Amtnlltod and iRHtl>l<ld
PJ,,~ sc tllll ,ne,your a n ~ i!lliC1e1 ~~ or ";\,nerllied and R..,,iai.11,, • accordingly.
3, Indicate .,,.,l Cibi!flgR~ M<e been ~ .. by ctieck\~9 lht:e appr"IJlilte ba.:''
0 No a ~nts; ;ldi~ • ""' ruu,1ed only and ere [lig,,11<1 ll)' an officer 01Ille ,;,,rporali0n ooo ha• ~.en authonU(I IQ ~•'"""~
lilm r,erllllcata t>:, IHQI\Jllon of 11le baaAI of dir~or" ..:l,:,pl~ on:
"TIie ~rii.ficele com,clly Htl, rQllt, lh le>I ol ihe arlidtll '11 l;l!f1!f""'!t H omelldetl!I IO Ult! dace t11·~ .,.,r1ifie,,1e.
~ T t>e .. n1lfy """"' ll!ls :i,.,,n ameMl'd.
n,,. '"Ilia~ •a•~ lllls 'b nn cnanged. tanatll Ceflllical• <11 A~ept,,nce ~""' new regi•,.re<:I 119oal)
0 The pu~e ol 1fic cri1IIY h••· b..en amendlld,
00 Thi, ~ ed •~Ille$ have beeo aml!lnd<KI,
0 T he •<liree1Clf:I" m,1111,agen1 ar gene•- ~rt,,e,_ 1,111,e bean amer-1ed.
□ IRS I•• l&nil"a- h'-" beon e,c,dea.,
0 Atltd<-~ have b~n ad'd~ CI.
0 Arliele• have bee:n d~le<I-
IKJ Olllf)f. ll'le e ~ or i::erfl~[e ~l\ltl been -ded n rolo,vs; ~""'_,. 111ii:I!!! nun,oer,, if ll\l.il1b!e)
/ltmcu; LNAME: Tlie n:,m,, or '1 1< co'l"'m1ion Is "'""'"""11 S1r;,~~ic Min~rm Corpl1r11~00 (11": "C<>JJlO"'li"n')
• ••s,_,. n.11;;11,,il~ l\m,'11111:0 1a1d Rc>11>11'd /\rlidc, of lncvrl,)'.>ro.•iot• oil \l•ns, ¥cnlu..... In,,. for cc,mplcio du0ume11i:-••
Tin\t.
(m.llS11104 be le,ler IMn ~ day• a1tlll' lllit !Blif,c,all ii ~lied)
• Tl'l!I lorm 1,; io iKIOOmPl'"Y Rallate<:I AdiOII!• or Atr,,ende<I ond RaStl!II~ AJIJclo• ., ,.,~ OOlllll!n ne\\ity , 1i.,,,,1 « a/11elld~d •rucloL
Tn~ ~i.t~ .1,rtidM !N$1 conlain amol Ile rall•~lllll~ml ~, wt f,;,M in ~ ,iatut§ ~ amtmdiig, ot l!l§r!"!I 1"" 1ri.:let f~r
cmltic.ll1'lt .
2
Exhibit B 003
Case 2:23-cv-01055-RFB-BNW Document 87-2 Filed 05/20/25 Page 4 of 9
lill!IIHM Ill lHIHIIIIII ml IUI
ROUMILI.ER
S.cl'fll,y ot 51li,ta
204 Nortt, 0.r,;on s - , Suite 1
C11won City, ,.,...111 tff01-4620
(TTS)HU70t
Weblilll: IWWW.!IV,o;i ■ .gtw
Certificate of Amendment
(PUR5UAITT TO NflS 78.385 AND 78.390)
USl9U.CK-OIII.Y, 00 NOTl9GlilUGlff
Certificate of Amendment to ArticJes of Incorporation,
for Nevada Profit c2moralion1
(Pursuant to NRS 78.385 and 78.390 - After !nuance of StQilk)
1. Name of oo~poration:
V¢rve Vcn.ture.1, 1,nc.
2. The articles have been amended as lollows: (provlda iirtiele n~oors, it availallle)
3. The vote by which the stockholde.rs holdin9 shares rri the corporalion entitling them to e.i,:erci&e
a least a majority of tile votlng1power, ot such, greater ;prop()rtion of lhe voting power as may be
reguirred in the case of a vo1e by da.sses or series, or as may be required by lhe provisions of the
attic1es of incorporation• have voted in fa\rOr of the amen<lment is: sI%
4. Effective date of filing: (optional)
lmusl n,ot be 11~ lh•n 90 d1,s aflel' the a,rtificale iS filld)
5. Signature: (required)
X
s1gna111r. oromo.r
•if ~t proposed omen<henl would alter or ,;ha,,g,i iili!' p,elere"ee or any m1a1iv. or oihet right giw,n to IIIY d!lu ot Mries of
01tt1;Lll'lding t~are,, 1hlln lhfl amenclrritlll muel !Joi 1p,proved ll~ u,,, ,,,i.,, "' addlllan to the lffln:nati.-. \IQIII ~ ,equlred, or
1111! holders ol sll.lre, ,eprammtng a m,;c,ntr or EM ¥Oling po,wer or e!>dl ciMS or uulee •ffecled 1:1)' 11!11' 1fTMIDdmo1nt ~ to
lirnitffillns or , ~n• on lhe ...oti,,g PtJWII' 111e-•-
IMPORTANT: F,ill,. to i...::ll!Oe a,,y o1 U>e ill:>DYe imio,maJlon and subm~ wlln lhe pri,per !1!6S may CIOl.lff 1hi6 • ling to 'be tejecie<I.
3
Exhibit B 004
Case 2:23-cv-01055-RFB-BNW Document 87-2 Filed 05/20/25 Page 5 of 9
AMtNDED AND RFSl''ATED
ARTICLES OF INCORPORATION'
OP
VERVE VENTURES INC.,
A Nn111d.a corporado111
ARTICL!I
The name of 1hc corpotation i~ Ameri.cari Sn.tei:ic Mlnerals Corporation (the
''Corpor.tion").
A.RTICLE:n
RESIDENT AGENT AM> UGISTERED OFFICE
The name and addl'CM of die Corpor11ion's resident agent for lCl:Vice of pmcas is
Nmtional Corporate Rcse.arc.h, Ltd., 202 South Minne,ota Sl?ffl, Carson City, NV 89703 ,
ARTJCLEIJI
CAPliAL STOCK
J .01 .Author/ztd Ql/Jl14/ Siad The 1.oial number of shatcs of l!IOCk tliis
CoJpomion is authorized to blue shall be two hundred fifty nullion (250,000,000)
.shales. Tbi!I stoct shaU be divided Imo two cla,.,e, to be desipml m "Commoi1 stoclt•
and •Preferred S~ock.•
3.02 Common Stoel The IOI.al number of wlhoriecl ,us of Common S1odt
wJI be two hundred million (200,000,000) ~ with par 11alue of SO.ODO I per 1hm.
3.03 Prtfernd Ssoci:. The total nvmbliir of authorized diam or P~fcncd S10tk
$hall be fdty million (50,000,000) shares wi1h par value ofS0.0001 per share. The boanl
or dite<:~ ·w ll hne the 111W111riiy 1.0 authorize !he issuance o( the Pre~ Stock from
ti.me 10 tim.e in one or more clU11es or scnes, and. to state in 1hc TC"SOtution or rgoluUons
from rime to time adopted p,0vidina for Ill(: iSM1ncc tl:iicreof the following;
4
Exhibit B 005
Case 2:23-cv-01055-RFB-BNW Document 87-2 Filed 05/20/25 Page 6 of 9
(a) Whether or not Ille cws or :,eries shall have voting tigliu, rutt or
limiti,d, the oanu-c aoo qualiflCllions. limitations and rcstrictil'.lll!il on lho.w rights,
or wbefher th~ class or ~cs will be wilhout voting rights;
(b) The n.umbcr of shara lo «illlltituie the e!a"3 or Kfil:ll llilld ibe
designation lhemor;
(c) The _p ~crcncu am! ,clatiw. pattic.ipating. optional or ollwr special
rijh13, if any, .nd the qualifications. limiiations. or .rcstrictms the=f, if 11.11y.
with ~ to NIY class or series;
(d) Whe1ilier or not 1M ~ of any chm or series shall be ~abl.e and
if ~eem,ble, the l'l!demplion pri!;:C Of prioes, 1111d ~ mm: or mnes Bl. which, m:I
lhc wms and conditl4ns lllf!OQ wllicb, wch shattjl shall be ~ I t ! atld the
manner of redemption; -
(e), Whether or not die .$hares of• ,c lus oc !!Clri.i=i sha!J be 51ilbject to the
operatl.on or retirement or sinking ~ to be •wlied tC> the purchase or
redemption of S\IClh shal'!$ ror mi~mt. !Incl if :ruch !'elm:;mi;m or sinking funds
oe C!tablished the amount 111d lhc terms and provisions thereof;
(f) The dividc:ad Jllc, whetbc:r dividends llfC ~ l e in ca,h, snick of the
Corpom1ion, O!' other property, the comditions upon which and thc times when
~ucb divicltnds are pa.fable, tbe premcnce IO or the relation to the psymimt of
dividcrob peyable 011 J11Y ol!Rf dw or cl~ or !lfflC$ o! stock, whethei- or not
5uch dividend $hall be cumollti...e or 1111m;umulat±ve, and if cum,ulaive, me date
or dale:i from which such diw&nda shall accumul11tc,
(&) The prefemKZs, if 111y, and lhe amouna thereof which the holder.I ,o r
any class or series thereof ans e.a.tit:lm to TeCeive upon lhc YOIUl'IW)' 01 involunwy
dmolution of. or 11po11 any di-1bwori of ugtJ of, the Corpomio~;
(h) Whc~r or not the lhucs of any claSII or series are conwrtiblc imo, or
exdrangnblt' for. the shins of lllly other clus or clf!S::M:S ot Of lllJ'· lltMf S!!ria of
11.ic same or ay othet cllilil or clu11a of stock. of the C<lfp(Jrdion and Ille
convemon price or pri¢C5 or ratio or mtQI or the n11e o:r I'll§ ll wltich ~
excllanp may be mad.c, with auch adjumneoi,, if any, a shall be stated and
expn,ssed or providod fot rn such mc>Jmioo or tti0lutlolls; and
{i) Such orhet rights and proviisiom with ~ tv any cu or Kri.:s lll5
may 10 I.ho boiud of directors acem advisable.
The m/lfCI of tal:h c1UI« xria oftbc Ptefmed Stock m11y vary from the ma,a of
any other cla.sii or series dic:roofm siy respec1. The Board ofDirecton m a y ~ the
numbe:r otsbares oflhc Pmlem!d Stock designa.tcd for any existing e p o.r series by a
resolution 1dd1nig to 1.uch clUII llJ' ,eries autblmzed -..id w:ii~ ~ of the Prefened
5
Exhibit B 006
Case 2:23-cv-01055-RFB-BNW Document 87-2 Filed 05/20/25 Page 7 of 9
Stoclt oot dcsi~ for any eicistina cl11S11 or 8l!riell oftbc P~fe~. Stock and the ~ s
so subnacd shall become authori~. unissued mid wicmignatcd shares of the Pnifen-ed
Stock.
ARTICLElV
DrRECTORS
The number of directon compruing !he board of dira:IOB sl:lall be fixed Ind may
be i t ~ or decreased from timi:: to liJDll in Ille manner provided lo lilfl by.laws of the
Corporation, except 1hat at no time :shall time be !.css than one director.
ARTICLEV
PlJRPOSE
The purpose of Lh¢ COl'Jl(lration is IO ef!PIC in any lawful acl OT ecdvhy for
wnioh cc;irporatlons 1n21y be orpni-1 Wlldu •Nevada Revised Slatutes ("NRS").
ARTICLE VI
DlRECT0RS; AND OfflCERS' UABILJT\'
~ individual Jiabiltiy of Ille dRClol$ uid offic.els of the CGtpOrtti(>II i1i hereby
eliminated 10 the fill111St CxteJII pi=nnlned b~ the NRS,. m tht! 3811le mll.)' be ammdm. Mid
lilUpplcmentcd. Any repeal or modific:alion •Of th:b Anicle by the swekh<Jldus of lilfl
Coq)Oraiio.o shall be p.rospectiYe only, m:I sball 11ot ll!iYmcly affect .any limitation on tht
penon11I liability of• dilector or Qfticer of tbe Cotpomion for aru or omissions prior to
such ~ or modificalion..
ARTICLEVII
INDEMNITY
Every pcnon wbo was w ~ a ~ to., or is tmmmd to be nude ■ party 10, or ia
involved in as,y action. suil or ~ whether ~llil, criminal, •inistnt.tive or
investigative, by iu,on of 1he,fnct that he_ oc • pmcn of whom he is the lqal
~ l i ' I { : . js or wu II directer or officer of the Cwpomion. or is or was servina: 11
tht request of the Corporation a5 • dim,tor or oftm of 11101b:r cospora.tion, or as its
repmatatlve in I Jlllrll'lfflhlp joint vcnttn, tnl.1l or other onlCl))ri,e. shall be
indemnified IUld held bum less lO the fullm extent Leplly petmiul.ble uoder d)t 1llff or
the State ofNevadl from time to time ap!nst all cxpcmes. Jillbilil)' and l.ois (inctudi~
eu.omeys' fees, judsmmu, fines and UIIOIDlttl pmd or to be paid in ..eUJemml) te8SOflllbly
incurred or suffered by him i:n connection therewith. Such ri,ibl of indemni6carion wll
6
Exhibit B 007
Case 2:23-cv-01055-RFB-BNW Document 87-2 Filed 05/20/25 Page 8 of 9
be a CQntract ri(ilht which may be enforud in rm)' manner dcaired by S1JCh p,:non. ~
e x ~ of ,officers and directors ioouired in defe,nding a civil (Ir criminal action. 5Uit or
proocedini mu,i be paid by lhe C-orpontlon as they arc incurred 11nd in ad'll!UUle of the
lina.l disJ]Ol'lition of' this action, -suit or proctedinll, llpon recci))'I of &n undertaking by or on
behalf of 11\e dim:tor or offica- to repay the IIIIJOum if .11 is ultima1cJy daermincd by a
oouri of competcm: jurisdiction 1h:at he is not cmitlcd 10 be indemnifiod by the
Corpomion. Su.ch right of indemnification shall not be aduiff of any ,ol.bcr right which
such directors, offi~ or ~ t i - may ha,,. or heuaftcr acquire, and, witboul
limit.Ing the g-lity of s11cb stawne:nt, Ibey shall be entitled lo thl:in~spective ril,hlll of
indemnification under any bylaw, q,eement, \lote of StOcluiotders, Pf')\lfaic.t1 of law, ot
otherwise, as well as thcir ri.BJib under this Article.
Withou1 limidns die a.pplicatio:n Gt the fon!golng. the board of dirwto~ .may .lll!fopt
bylaws &um time to time with respect to indcmnifJCalion, to pw;ide at all tiine, fl\e
futrcsl indemnification pem,itted by the laws of the State ofNllYada,. md 111.8)' cause the
Corpoonio11 10 ~ e and malnmin insuram:e on bel\alf of «ny person who i's or ..,. a
direcror or of:f!Cer of the Co.!p!lratiOn. or fa Qr wu KrVlng at lhe reque:,t or the
Corp)nrtJ.011 as director or offi.ceI of anotbu coiporation. or u its rc:~ntative in ■
parim:nhip, jotnt Vfflture, tNst or oilier me.p,ia qalJm any liability assertm 11pins1
!UCft pmon and in~d in any ~b capacity or arisina oot of &uch sratus. whether or
not die Cmporatio.n would h,.\le lhe power to llldemnify $ueh person. •1
I
The indemnification provided in this Anic.lc shall continui: !I$ lo a penon who has
I
?~
'
c ~ 10 be a director, officer, employee or •11mt, and shall Inure to the benefit of die:
-"'"'"'M'.~""... 1 : ·j.
Dated: November&, 20 11 ~
1.a11e cT.cio
7
Exhibit B 008
Case 2:23-cv-01055-RFB-BNW Document 87-2 Filed 05/20/25 Page 9 of 9
ROSSMlLLER
IIIIJIJ II 11111111~ l~I Uli ~11 IRI
~..-yorscat e
:W2 Narth Conoo SttHI
C:1,-on City, Hevad• 18701-001
{115) 68A-8709
Woblll~ w-.,w.11-.ao•.gov
Registered Agent
Acceptance
(FVRS\JA~ T TO RS 77.310)
ma bf oubmlll~d by: ll C<;xnmt,ci&I Reg~1en,:1 Agent,
ent or Repr-nted Enllly. Fot mott
/wo,,t,.Jto1'14$. avrindeu •14 !
ijll .....Cl< IN!< ONLT . 1)0 l'OT '"')"HU<lffT
Certificate of Acoeptance of Appointment by Registered Agent
In the matter of
Name ol Rt4l'es.ente<I 1111 ·, _ EnUI)'
1, Na.t fonal COIJ>~l!! RHoarc:r,, Ltd, am a;
Marne of Appoinled Regi$rere-o Ag~nl OR Repnsentta Enllb &!Ni119 u Own "9e'nl'
( ~plm only """)
a) 0c:ommeroial registered .igent listed with the Nevada Secratary of Slate,
b) O noncommercial registered agent with the following address for service of process:
Nevada
Zip Cece
Nevada
MiliI"11! At:t~res• (if d&rsn1 from •~- add,eS,l) c., z.- Codo
1.
c) ·J re presented entity accepting own service of process at tne loUowing address :
T~le ol OlliCII.,. Poooon or Person in ~~"""" Entilt
Nevada
CHy Zr,Cadl!
Nevada
and hereby state that on I accepted the appointment as regJSlered agent IOf
o.le
the above named business entity. ,
X fu ~...,._./ oeoamber 6, 2011
• or R.A. or Oo a.,-.11 of Ft.A. Cgmpany Oallt
•,t char,ging Registered Agent when relMtating. office,r's slgn 11ture required.
X j~ /i/0/ ~1
0a ..
~-SKfflal'Y ti h • ~ M i ! I R A ~
RN•d'. .. 1'l--10
8
Exhibit B 009