More institutional adoption as Marathon Patent Group purchases $150M in Bitcoin
CEO Merrick Okamoto said the crypto purchase would help make Marathon an appealing choice to investors seeking "exposure to this new asset class." Nevada-based crypto mining firm Marathon Patent Group has invested $150 million in Bitcoin as a reserve asset.Marathon announced today that it has purchased more than 4,812 Bitcoin (BTC) for $150 million through the New York Digital Investment Group — an average price of $31,168 per coin. CEO and chairman Merrick Okamoto said the move was “a better long-term strategy than holding US Dollars,” comparing the Bitcoin purchase to companies like....
Related News
Nasdaq-listed Marathon said it will use the funds to pay for recent hardware purchases from Bitmain and to expand its business.
On December 9, the Nasdaq-listed cryptocurrency mining company, Marathon Patent Group, announced the firm is purchasing 10,000 Antminer S-19j Pro units from the Chinese mining manufacturer Bitmain. According to Marathon, after the acquisition of next-generation bitcoin miners, the company will have an aggregate total of 33,560 ASIC miners with up to 3.56 exahash (EH/s) of hashpower. Marathon Patent Group, Inc. (NASDAQ:MARA) has partnered with Bitmain once again to purchase another 10,000 application-specific integrated circuit (ASIC) bitcoin miners. In addition to the recent purchase,....
The Nasdaq-listed mining company wants to become a "pure-play bitcoin investment option" for Wall Street.
Marathon Patent Group is receiving 4,000 Antminer S-19 Pro rigs from Bitmain, bringing its bitcoin mining capacity up to 688 PH/s. The post Marathon Patent Group To Receive 4,000 New Bitcoin Mining Rigs From Bitmain appeared first on Bitcoin Magazine.
On December 28, the publicly listed firm Marathon Patent Group announced the purchase of 70,000 Antminer S19 bitcoin miners from Bitmain for $170 million. Marathon expects the shipments to complete in 2021, giving the mining operation over a hundred thousand ASIC miners or more than ten exahash of hashpower. Marathon Patent Group, Inc. (NASDAQ:MARA) revealed the company is dedicating a lot of capital toward the bitcoin mining industry. On Monday, Marathon announced one of the largest mining rig purchases to-date, as the firm has purchased 70,000 Antminer S19 bitcoin miners from Bitmain.....