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Marathon Digital Holdings Engages TaxBit To Support Crypto Accounting NeedsOne of the largest publicly traded Bitcoin miners chooses TaxBit for cutting-edge crypto accounting support. NEW YORK, April 26, 2024 /PRNewswire/ -- TaxBit, an industry-leading provider of crypto accounting and tax compliance solutions, has been selected by Marathon Digital Holdings, one of the world's largest publicly traded Bitcoin miners and a leader in supporting and securing the Bitcoin ecosystem, to advance the company's crypto accounting capabilities. This strategic collaboration underscores Marathon's dedication to enhancing its back-office accounting and reporting capabilities, ensuring a seamless approach to managing its expansive crypto operations. Marathon selected TaxBit's comprehensive Accounting Solution to optimize various financial processes, such as revenue recognition, inventory tracking and reconciliation, and period-end close process optimization. TaxBit's Accounting Solution also features live connectivity with Netsuite, providing Marathon with automated accounting and journal entry capabilities to further streamline its financial operations. "TaxBit's accounting solution has enabled us to automate much of our accounting and reporting for our digital asset activity, benefitting our accounting operations," said John Lee, Marathon's Chief Accounting Officer. "Thi includes support for our early adoption of the new accounting guidance. The onboarding process was smooth, and we look forward to working together." Key benefits of TaxBit's collaboration with Marathon include:
"At TaxBit, we believe in empowering enterprises like Marathon with powerful solutions that not only meet their unique needs but also pave the way for seamless scalability. Our collaboration signifies a strategic step towards operationalizing and streamlining Marathon's crypto accounting, and we are excited to be the trusted solution for the Marathon team." - Aaron Jacob, VP of Accounting Solutions, TaxBit For more information on TaxBit's Accounting Suite, please visit taxbit.com/enterprise-accounting/. About TaxBit About Marathon Digital Holdings For media inquiries, please contact View original content to download multimedia:https://www.prnewswire.com/news-releases/marathon-digital-holdings-engages-taxbit-to-support-crypto-accounting-needs-302128730.html SOURCE TaxBit |