Marathon Digital Holdings, Inc. (NasdaqCM:MARA) entered into a purchase and sale agreement to acquire Data center facility of Rattlesnake Den I LLC located in Garden City, Texas for $97.3 million on March 14, 2024. The Purchase and Sale Agreement provides that the Property will be sold to Mara Garden City for a purchase price of $87,328,675.00 Applied Digital Corporation is also receiving $9,971,235 in additional consideration at the closing of the Transaction in connection with the surrender of Marathon?s security deposits under its existing agreements with the Applied Digital Corporation. Pursuant to the terms of the Purchase and Sale Agreement, Mara Garden City paid an earnest money deposit of $25,000,000.00 directly to Rattlesnake Den I, which is refundable if the Purchase and Sale Agreement is terminated prior to Closing. The transaction is subject to customary closing conditions and is expected to close in the second quarter of calendar 2024. Harris Freidus of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Marathon Digital Holdings, Inc. Steven E. Siesser, Esq. and Daniel A. Suckerman, Esq of Lowenstein Sandler LLP acted as legal advisors to Rattlesnake Den I LLC.
Marathon Digital Holdings, Inc. (NasdaqCM:MARA) completed the acquisition of Data center facility of Rattlesnake Den I LLC located in Garden City, Texas on April 2, 2024.