Marathon Digital Holdings made a significant donation to Bitcoin research and development company Brink during the Bitcoin 2023 conference in Miami Beach, Florida. With this generous contribution, Marathon Digital Holdings aims to support Brink in funding grants and programs for Bitcoin Core developers, who are currently not receiving compensation. This commitment is intended to promote the continued development of Bitcoin and support the developer community.
Marathon Digital Holdings supports Brink
Marathon Digital Holdings (MARA), a company specializing in Bitcoin mining, has announced that they will contribute up to $500,000 to Brink, a non-profit Bitcoin research and development company. This contribution will take place during the Bitcoin 2023 conference in Miami Beach, Florida. During the conference, Marathon Digital Holdings will match Brink’s donations, meaning they will donate $2 for every $1 received by Brink. After the conference, Marathon Digital Holdings will also match additional donations through December 31.
The donations will be used to fund grants and programs that pay Bitcoin Core developers to write and maintain code for the most prominent blockchain in the world. This project is an open source and decentralized initiative that relies entirely on voluntary donations in order to continue.
Earlier this year, there were concerns about a potential collapse in funding for Bitcoin due to the current market downturn, also known as the industry’s “crypto winter”. Marathon’s pledge, which can reach $1 million with third-party donations, demonstrates the company’s determination to support the Bitcoin financial ecosystem.
In an interview with CoinDesk, Marathon CEO Fred Thiel emphasized that it is very important that these developers receive compensation. “They operate out of pocket and the only way they can get funding is through grants like what Brink is doing,” said Fred Thiel.
Brink and Marathon Digital Holdings Unite Forces
Brink was founded in 2020 with the main objective of actively supporting the development of the Bitcoin protocol. This is achieved through a mentoring program and a subsidy program specifically aimed at developers. Recently Mike Schmidt, co-founder and executive director of Brink, took the stage at a conference with Thiel to announce the launch of the campaign. To date, an impressive amount of nearly $790,000 has been donated, as can be seen on the donation page from Brink.
Thiel stated that as a miner, the global adoption of Bitcoin is paramount. “Our main priorities are to ensure adequate funding for the development and maintenance of Bitcoin Core. We will work with numerous industry partners to encourage them to contribute,” said Fred Thiel.