How much of Marathon Digital Holdings’ revenue comes from haram?

Marathon Digital Holdings earns its revenue from cryptocurrency mining.

This Includes using cryptocurrency mining equipment, primarily application-specific integrated circuit (ASIC) miners, to solve mathematical algorithms and earn block rewards on Bitcoin’s blockchain network. 

Practical Islamic Finance finds none of Marathon Digital Holdings’ revenue to come from anything inherently haram.

Does Marathon Digital Holdings rely on interest to operate?

For the Trailing Twelve Months as of March 31, 2021 (Numbers in thousands, U.S. Dollars):

Interest Income: $200

Interest Expense: $9

Total Expenses: $67,181

Total Revenue: $12,918

Interest Expense / Total Expense: 0.01%

Interest Income / Revenue: 1.55%

From the aforementioned, Practical Islamic Finance finds riba used but not relied upon in Marathon Digital Holdings operations.

What is Marathon Digital Holdings Environmental, Social, and Governance (ESG) impact?

Environment: 

In May of 2021, Marathon Digital Holdings announced they will be opening a new 300-megawatt facility, expected to be completed in the first quarter of 2022, in Texas and will move 73,000 of Marathon’s miners to the new location. 

The company stated that this transition will lead to Marathon’s mining operations becoming 70% carbon neutral and will help achieve its goal of operating 100% carbon neutral. 

Social:

The company does not have any notable social highlights.

Governance:

The company does not have any notable governance highlights.

Practical Islamic Finance views Marathon Digital Holdings as having a net positive ESG impact.

Comfort Rating

From Marathon Digital Holdings business, financial and ESG reviews, Practical Islamic Finance rates Marathon Digital Holdings as:

Comfortable to invest in from a Halal perspective.