Marathon Digital Holdings Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Debt, Commitments and Contingencies (Tables)

Debt, Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Debt consists of the following:

	Maturity		Interest			March 31,		December 31,
	Date		Rate			2020		2019

Convertible Note		9/1/2021		5	%	$	999,106	$	999,106
Less: debt discount							-		-
Total convertible notes, net of discount						$	999,106	$	999,106

Total						$	999,106	$	999,106
Less: current portion							-		-
Long term portion						$	999,106	$	999,106

Schedule of Components of Lease Cost

Operation lease costs are recorded on a straight-line basis within operating expenses. The Company’s total lease expense is comprised of the following:

	For the Three Months Ended
	March 31, 2020		March 31, 2019
Operating leases
Operating lease cost	$	26,789	$	26,246
Operating lease expense		26,789		26,246
Short-term lease rent expense		5,992		4,107
Total rent expense	$	32,781	$	30,353

Schedule of Weighted Average Lease

Additional information regarding the Company’s leasing activities as a lessee is as follow:

	For the Three Months Ended
	March 31, 2020			March 31, 2019
Operating cash flows from operating leases	$	26,823		$	25,892
Weighted-average remaining lease term – operating leases		1.5			2.0
Weighted-average discount rate – operating leases		6.5	%		6.5	%

Schedule of Minimum Lease Payments

As of March 31, 2020, contractual minimal lease payments are as follows:

2020	$	71,508
2021		98,323
2022		26,815
Total		196,646
Less present value discount		(12,574	)
Less current portion of operating lease liabilities		(89,054	)
Non-current operating lease liabilities	$	95,018