Business Context and Reporting Period
This Form 8-K is a current report filed by Marathon Digital Holdings, Inc. (MARA) on July 19, 2021. The filing addresses a change in the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on the administrative change of the external auditor.
Material Changes
- Dismissal of Auditor: Effective July 19, 2021, the Audit Committee dismissed RBSM, LLP as the independent registered public accounting firm.
- Engagement of New Auditor: Effective July 19, 2021, the Audit Committee appointed Marcum LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2021.
- Audit History: RBSM's audit reports for fiscal years 2020 and 2019 did not contain adverse opinions or disclaimers. The 2019 report included a qualification regarding the company's ability to continue as a going concern.
- Disagreements: The company reported no disagreements with RBSM on accounting principles, practices, or auditing scope during the relevant periods.
Guidance, Outlook, and Risks
The filing includes standard forward-looking statements disclaiming guarantees of future results. No specific financial guidance, operational outlook, or new risk factors were disclosed in this report. The company confirmed there were no "reportable events" involving the former auditor.
Investor Verification Checklist
- Verify the transition timeline and handover status between RBSM, LLP and Marcum LLP.
- Review the attached Exhibit 16.1 (Letter from RBSM) to confirm the former auditor's concurrence with the company's statements.
- Monitor future filings for the first audit report issued by Marcum LLP for the fiscal year ending December 31, 2021.
- Check subsequent 10-Q or 10-K filings for updated financial metrics and liquidity positions not included in this 8-K.