Los Angeles, CA (July 19, 2024) – A federal court jury unanimously ruled in favor of Michael Ho against Marathon Digital Holdings, Inc. for $138 million after finding that Marathon breached a Non-Disclosure/Non-Circumvention Agreement.
David W. Affeld and Edward E. Johnson of Affeld England & Johnson LLP represented Michael Ho at trial against Marathon’s counsel at Weil Gotchal and Manges LLP.
Michael Ho is a pioneer of industrial scale Bitcoin mining with extensive relationships with energy producers, equipment manufacturers, and other vendors. He entered into a Non-Disclosure/Non-Circumvention Agreement with Marathon to provide proprietary information to Marathon regarding a large-scale energy supplier for Marathon’s energy needs. Marathon promised not to circumvent Michael Ho by doing business with that supplier without compensating Michael Ho for this valuable information. In breach of its agreement, Marathon cut Michael Ho out and dealt directly with the energy supplier.
As David Affeld explained, “the unanimous jury verdict for $138 million vindicates Michael Ho's efforts and expertise, and it reinforces the importance of honoring contractual obligations and respecting professional relationships.” Affeld collaborated with Gregg Zucker at Foundation Law Group LLP, who originally filed the action.
