MARA Holdings Inc - MARA STOCK NEWS

Marathon Patent Group (NASDAQ: MARA) has appointed Kevin A. DeNuccio to its Board of Directors, replacing David Lieberman. With over 25 years in technology leadership, DeNuccio has held executive roles at major companies like Verizon and Cisco, and has experience in guiding startups in the SAAS sector. His arrival is expected to enhance Marathon's strategic direction, especially as the company seeks to expand its Bitcoin mining operations. CEO Merrick Okamoto expressed confidence in DeNuccio's ability to drive shareholder value during this growth phase.

Marathon Patent Group (MARA) has successfully closed a registered direct offering of 12,500,000 shares at $20.00 each, generating gross proceeds of $250.0 million. The offering was facilitated by H.C. Wainwright & Co. The company plans to use the net proceeds for general corporate purposes and to support ongoing operations and expansion. The registration statement was filed with the SEC on January 12, 2021, becoming effective immediately.

Marathon Patent Group (Nasdaq:MARA) has entered into agreements to sell 12.5 million shares of common stock at $20.00 per share in a registered direct offering, aiming to raise approximately $250 million before expenses. H.C. Wainwright & Co. is acting as the exclusive placement agent. The offering's proceeds will be used for general corporate purposes and business expansion. The transaction is expected to close around January 15, 2021, subject to closing conditions. A registration statement for the offering has been filed with the SEC.

Marathon Patent Group (NASDAQ: MARA) and DMG Blockchain Solutions have entered a non-binding memorandum to create Digital Currency Miners of North America (DCMNA), a non-profit aimed at enhancing mining conditions for North American miners. Marathon plans to contribute its entire hashrate of 10.36 EH/s to DCMNA, which will establish the first cooperative mining pool in North America. Benefits include profit sharing, increased transparency through independent audits, and lobbying for better mining regulations. Operations are expected to start after a definitive agreement.

Marathon Patent Group (NASDAQ: MARA) has completed a $200 million shelf offering, ending 2020 with $217.6 million in cash. The funds will be used to pay for 103,060 miners bought from Bitmain, expected to produce around 10.36 EH/s once fully deployed. Shipping schedules for the miners include 4,000 units in February and 6,300 in March. If all miners are operational at a Bitcoin price of $28,000, the company could generate $618 million in annual revenue and $523 million in gross profit. The CEO emphasized the strategic timing and scale as crucial for profitability in the volatile Bitcoin mining industry.

Marathon Patent Group has secured a historic contract with Bitmain to purchase 70,000 Antminer S-19 ASIC miners, significantly boosting its mining operations. Anticipated deliveries will begin in July 2021, with full deployment expected by December 2021. This expansion will increase Marathon's mining fleet to over 103,000 miners, producing 10.36 EH/s—more than tripling its current capacity. CEO Merrick Okamoto emphasizes the strategic importance of this relationship with Bitmain, which has positioned Marathon as a major player in the North American Bitcoin mining sector.

Marathon Patent Group (MARA) has contracted with Bitmain to purchase 10,000 Antminer S-19j Pro ASIC miners, enhancing its Bitcoin mining capabilities. The initial delivery of 6,000 miners is expected in August 2021, with the remaining 4,000 in September 2021. Upon full deployment, Marathon will operate 33,560 ASIC miners, achieving a total hashrate of 3.56 EH/s and consuming approximately 100 MW of power. Additionally, the company is developing a renewable energy-powered data center in the northeastern U.S., which could provide up to 250 MW of power.

Marathon Patent Group (NASDAQ: MARA) will participate in Bitmain's Mining and Investment Summit 2020 on November 24. CEO Merrick Okamoto will be part of the "Operations and Investment into Mining" panel at 11:40 a.m. Eastern Time. The summit will gather leading cryptocurrency mining companies and digital asset financial service providers. Additionally, Marathon released a new investor presentation on November 18, showcasing updated financial data as of November 5. Interested attendees can register for the event through the provided link.

Marathon Patent Group (NASDAQ: MARA) released a new investor presentation with updated financials as of November 5, 2020. Highlights include a strong balance sheet with $24.6 million in cash and no debt. The presentation outlines partnerships with Beowulf and Bitmain, vital for low energy costs and access to leading miners. Once fully operational in Q2 2021, Marathon aims to produce 15-20 Bitcoins daily, potentially generating $8.8 million in monthly revenue with a gross profit of $6.7 million. This reflects the Company's robust growth strategy in the Bitcoin mining sector.