MARA Holdings (NASDAQ: $MARA) has launched a new foundation aimed at helping to address the threat posed to Bitcoin (CRYPTO: $BTC) by quantum computers.
Fred Thiel, the chief executive officer (CEO) of MARA Holdings, announced the launch of the MARA Foundation at the annual Bitcoin Conference on April 27.
The foundation’s mandate is to support the long-term resilience of the Bitcoin network beyond MARA’s Bitcoin mining and artificial intelligence (A.I.) data centre operations.
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“Bitcoin is the most important decentralized system ever created, but its future is not guaranteed,” said Thiel at the conference.
MARA Holdings’ new foundation will focus on maintaining Bitcoin’s core properties as “sound, durable money,” while advocating for its global use.
Key priorities of the new foundation will include supporting the network’s security budget and funding research into emerging risks, such as quantum computing.
MARA also plans to fund open-source development across scaling, mining, and user infrastructure, expand access to self-custody, and promote financial sovereignty worldwide.
Thiel added that, as part of the launch, MARA Holdings will award $100,000 U.S. to one of three nonprofit organizations, with the recipient chosen by community vote.
MARA stock has declined 20% over the last 12 months to trade at $11.28 U.S. per share.