Marathon Digital Holdings Donates $500K to Bitcoin Software
Marathon Digital Holdings Donates $500K to Bitcoin Software
Marathon Digital Holdings, a leading Bitcoin mining company, has announced its commitment to supporting the development and maintenance of the open-source Bitcoin Core client software. During the Bitcoin 2023 conference held in Miami, Florida, Marathon said they will match donations to the non-profit Bitcoin research and development firm Brink, up to $500,000 on a two-for-one basis. Following the conference, Marathon will continue to match additional donations on a one-for-one basis until December 31. These contributions will be used to fund grants and programs that financially support Bitcoin Core developers, ensuring the continuous improvement of the world's dominant blockchain. Marathon CEO Fred Thiel emphasized the importance of compensating these developers, who often rely on grants to sustain their work, and expressed his desire to engage other industry partners in supporting this vital ecosystem.
The recent market downturn in the crypto industry, known as the "crypto winter," had raised concerns about funding for Bitcoin development. However, Marathon's generous pledge, which may reach $1 million with third-party donations, demonstrates the company's commitment to bolstering the Bitcoin funding landscape. Thiel highlighted the reliance of developers on their personal resources and the necessity of grants, such as those provided by Brink, to ensure their financial stability. Brink, founded in 2020, supports Bitcoin protocol development through its fellowship mentor program and developer grant program. Thiel and Brink's co-founder and executive director, Mike Schmidt, jointly announced this initiative during the conference, garnering significant support.
