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Salman Khan is the Chief Financial Officer of MARA Holdings, Inc. (Nasdaq: MARA), the bitcoin mining and digital energy infrastructure company formerly known as Marathon Digital Holdings.
He has held the role since June 14, 2023. He oversees finance, treasury, investor relations, tax, accounting, information technology, internal audit and digital asset management, and has also overseen legal and corporate development.
Before MARA, he was Chief Financial Officer of Verb Technology Company from 2021 to 2023. Earlier he held senior finance and corporate roles at Occidental Petroleum and its spinoff California Resources Corporation, including Division CFO, Director of Renewable Energy and Director of Corporate Development. MARA describes him as having led more than $5 billion of M&A, capital markets and balance sheet transactions since he joined.
He is associated with MARA's shift from an asset-light bitcoin mining model toward owning and operating more of its power and data infrastructure, including its AI and high-performance computing efforts.
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Latest interview · Nov 3, 2023Salman Khan on Marathon Digital's Bitcoin strategy heading into 2024Watch the episode →
Key points
- Marathon Digital reduced debt by 56% and operates some of the industry's most efficient mining machines to maximize profitability.
- Marathon holds approximately $500 million in Bitcoin on its balance sheet and sells only enough Bitcoin monthly to cover operational costs.
- Marathon operates globally including in Abu Dhabi with a sovereign wealth fund partner, mining profitably in extreme conditions like 55°C heat.
- Bitcoin's mathematically restricted supply combined with potential ETF approval and new regulatory clarity creates unique demand-supply dynamics for miners.
- Marathon funds growth through equity capital markets rather than selling Bitcoin reserves, maintaining a long-term bullish position on Bitcoin pricing.
In their own words
“We can be the company that takes that power when there's excess production.”
“We protect ourselves for the worst, but also plan for the best.”
