Marathon Digital announces fundraiser of up to $1 million for Bitcoin developers

Mining company Marathon Digital itself has pledged up to $500,000 to develop the Bitcoin Core group by the end of 2023

Marathon Digital Holdings announced a partnership with Brink to raise up to $1 million to support Bitcoin developers Bitcoin Core. Marathon has promised to contribute up to $500,000 by the end of 2023.

Bitcoin Core is a client (software) for the Bitcoin network operated by an independent group of developers. They maintain the blockchain. And also write updates and make decisions on improvements to the first cryptocurrency network. They also maintain the main repository of the protocol on GitHub.

Brink, a non-profit company, is dedicated to supporting the Bitcoin developer community through scholarship and grant programs. The firm was founded in 2020 with funding from John Pfeffer and Vences Casares. The company’s website states that it is 100% funded by donations from individuals. As well as organizations that want to support the Bitcoin network and protocol.

Marathon and Brink have set a goal of raising up to $1 million for Bitcoin Core developers. They announced the fundraiser at the Bitcoin 2023 conference, taking place May 18-21 in Miami, USA. Marathon has pledged to double all contributions from other participants up to $500k by the end of the year, so if the amount of donations from third parties reaches $500k. Then Marathon Digital will also contribute $500k and the $1 million plan will be met.

Our experts note that Marathon Digital is one of the largest Bitcoin miners. The public U.S. company has tens of thousands of cryptocurrency mining devices in data centers in North Dakota, Ohio and Texas. At the end of the first quarter of 2023, Marathon had $1.3 billion in assets, and about $715 million of that was in hardware and $189 million in digital assets.