Investment establishes Marathon as one of the only pure Bitcoin investment options
Las Vegas, January 25, 2021 (GLOBE NEWSWIRE) – Marathon Patent Group, LTD (NASDAQ:Mara) (“Marathon” or “Company”“), One of the largest bitcoin self-mining companies in North America, announced today that it has acquired 4,812.66 BTC at a total purchase price of $ 150 million. As a result, the company has strengthened its position as one of the only NASDAQs. Clean and clean investment options for individuals and institutions seeking exposure to Bitcoin.
To ensure the acquisition went smoothly, Marathon worked with NYDIG, a leading technology and financial services company dedicated to Bitcoin. NYDIG’s expertise in trading, executing and managing assets has enabled Marathon to take advantage of the favorable market conditions and execute the transaction in the most efficient way possible.
“With the $ 150 million acquisition of Bitcoin, we have accelerated the marathon building process of what we believe to be the actual investment choice for individuals and institutions seeking exposure to this new type of asset. We also believe that holding some of our bitcoin holdings will be a better long-term strategy than US dollars. Like other forward-thinking companies like MicroStrategy, “said Merrick Okamoto, chairman and CEO of Marathon. “To date we have called to purchase 103,060 miners, all of whom are expected to be transferred and fully deployed at the end of the first quarter of fiscal 2022. If all miners were active today, based on the current difficulty network of the Bitcoin network. We would produce about 55-60 bitcoin per day. By leveraging our cash to invest in Bitcoin now, we have made our potential a pure investment in reality.I would like to thank all the NYDIG team for offering their unique products and services to public companies, and working with us to expedite this process and ensure the transaction is done on the best possible terms For our business and our shareholders. “
Robbie Guttman, Co-Founder and CEO of NYDIG, said, “We very much admire Marathon’s commitment to the Bitcoin ecosystem, and we are very pleased to add them to the list of companies using NYDIG as the institutional choice for Treasury Department solutions. NYDIG is uniquely positioned to help corporations navigate the challenges they face around performing and building large bitcoin positions, and our ability to provide the marathon with a customized, customized, market-free solution is why corporations and insurance companies. Companies choose NYDIG. “
Investing in our securities involves high risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2019. If any of these risks Had it occurred, our business, economic condition or results of operations would most likely suffer. In this case, our securities may fall, and you may lose some or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks that we do not currently know or that we currently see as important may also harm our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to predict future results. Future changes in the difficulty rate of online mining or the rate of bitcoin may materially affect the future performance of marathon bitcoin production. See “Safe Harbor” below.
The statements in this press release include forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified using words. Such as “can”, “will”, “plan”, “should”, “expect”, “expect”, “evaluate”, “continue” or similar terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot accurately predict and in some cases the Company may not even predict and involve factors that may cause actual results to be materially different from those projected or proposed. Readers are cautioned not to rely too heavily on these forward-looking statements and are advised to consider the factors listed above along with the additional factors in the “Risk Factors” heading in the Company’s annual reports in Form 10-K, as may be added. Or amended by the Company’s quarterly reports in Form 10-Q. The Company does not undertake to update or complete forward-looking statements that are incorrect due to subsequent events, new or different information.
NYDIG is a leading technology and financial services company dedicated to Bitcoin. The firm and its subsidiaries provide institutional investment solutions, brokerage, finance and technology to institutions, banks and private clients, including insured custody, execution, asset management, financing and research. NYDIG was founded in 2017 as a subsidiary of the digital assets of the Stone Ridge Holdings Group, the owner of a $ 10 billion alternative asset manager in New York. NYDIG meets the highest standards in the field of regulation, auditing and governance, and the firm’s subsidiaries hold a BitLicense trust program and a limited target charter from the New York State Department of Financial Services. For more information, visit the website www.nydig.com.
About Marathon Patent Group
Marathon is a digital assets technology company that sells cryptocurrencies, with an emphasis on the blockchain ecosystem and digital asset manufacturing.
Marathon Patent Company Group:
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Investor Relations in the Marathon Patent Group:
Investor relations at the gate
Matt Glover and Charlie Schumacher
Email: [email protected]