Shares of Marathon Patent Group (MARA) has skyrocketed on heavy gains of Bitcoin (BTC). The company specializes in digital assets technology and mining cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets. It operates one mining facility in Quebec.
- Marathon Patent Group has gained momentum supported by climbing Bitcoin prices and positive sentiment in the asset class.
- A new joint venture with ‘Beowulf Energy LLC’ for low cost electricity at a new data center is set to improve its profitability outlook.
- The company believes it can generate upwards of $10 million in monthly revenue by Q2 2021 at a reference price of $18,000/BTC as it deploys recent mining rig purchases.
- We are bullish on shares of MARA which has established itself as a pioneer in the emerging market segment of Bitcoin mining with significant growth opportunities.
Marathon Patent Group adds updated Investor presentation
According to a recent press release, the company has updated and added a new investor presentation to it’s website.
The new investor presentation outlines a balance sheet that features $24.6 million in cash with absolutely no debt. Moreover, the presentation outlines the company’s exclusive partnership with Beowulf and Bitmain that offer up low energy costs and consistent access to industry leading Bitcoin miners.
Moreover, in the new presentation, the company provides detailed information surrounding its growth strategy and expected financial performance once all 23,560 miners are deployed in the second quarter of next year.
Based on its strategy, MARA now expects to produce between 15 and 20 Bitcoins per day at an average cost of $3,863 per Bitcoin. That’s not too shabby when you consider the fact that Bitcoin currently trades at over $18,000 per coin.
As a result, the company expects that once all miners are fully operational, it will generate $8.8 million in revenue per month with $6.7 million of that number representing gross profit monthly.
Where to put $50 right now
STOP BUYING STOCKS RIGHT NOW … And start taking a serious look at options, the investment vehicle that is driving stocks like Tesla and Apple to historically unprecedented highs.
Subscribe below to get insight into options trades!