Marathon Digital Holdings, Inc. (NASDAQ:MARA) one of the largest enterprise Bitcoin self-mining companies in North America, today announced that its board of directors has appointed Fred Thiel as its new chief executive officer, effective today.
Thiel will succeed Merrick Okamoto, who has served as the Company’s chief executive officer since 2018, and who will serve as executive chairman of the board of directors following the transition.
Thiel is a globally experienced public and private company CEO, board member, strategic advisor, private equity firm principal, senior advisor, and operating partner with over 30 years of experience building high performance businesses and creating value through innovation and revenue growth – both domestically and internationally.
Prior to serving as Marathon’s chief executive officer, Thiel co-founded and served as chairman of Sprocket, a blockchain and cryptocurrency technology and financial services company whose mission is to reduce the risk and friction of cryptocurrency trading across marketplaces, regions and exchanges.
Prior to that, Thiel served as chairman and chief executive officer of Local Corporation, an $80 million Nasdaq-listed leader in online local search and digital media, mobile search monetization and programmatic retargeting markets with over 240 million unique annual visitors.