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
'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
Key benefits of TaxBit's collaboration with Marathon include:
Automated Lot Level Inventory Tracking: TaxBit's FIFO (First-In-First-Out) by source methodology replaces a previously manual calculation process, ensuring accuracy and efficiency as Marathon's business continues to scale.
API Integration with
Highly Customizable Solutions: TaxBit's platform is designed to adapt to Marathon's unique needs, offering extensive customization options for gain/loss and disposition tracking.
Smooth Transition Process: TaxBit's implementation process involves a high-touch approach, ensuring a collaborative effort with Marathon's team. This ensures a seamless transition to the new system with minimal disruption.
'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.' -
For more information on TaxBit's Accounting Suite, please visit taxbit.com/enterprise-accounting/.
About TaxBit
Designed by CPAs and tax attorneys, TaxBit is the digital economy's leading tax and accounting compliance solution. Our end-to-end platform, tailored for enterprises, financial institutions, and government bodies, streamlines compliance while ensuring accuracy. TaxBit is SOC 1 Type 1, SOC 2 Type 2 attestation, and ISO 27001 certified. TaxBit has secured over
About
Marathon is a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem. The Company is currently in the process of becoming one of the largest and most sustainably powered Bitcoin mining operations in
Contact:
VP of
michelle@taxbit.com
(C) 2024 Electronic News Publishing, source