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Investor Presentation Accessible on the Company’s Investor Relations Website
LAS VEGAS, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Marathon Patent Group, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), one of the largest publicly traded Bitcoin self-mining company in North America, has unveiled a new investor presentation, which contains updated financial information as of November 5, 2020. The presentation can be accessed on the Company’s website here.
The presentation’s highlights, which are based on Bitcoin’s seven day average price as of November 17th of approximately $16,000 and the network’s difficulty rating in mid-November, include, but are not limited to the following:
Strong balance sheet with $24.6 million in cash and no debt
Overview of exclusive partnerships with Beowulf and Bitmain that provide low energy costs and consistent access to the industry’s leading miners
Insights into the Company’s growth strategy and estimated financial performance once all 23,560 miners are deployed in Q2 2021, including:
Potential to produce 15 to 20 Bitcoins per day at an average production cost of $3,863 per Bitcoin;
Potential to generate $8.8 million in revenue per month and $6.7 million in gross profit per month;
Producing 2.6 EH/S, which will account for approximately 2.0% of the global Bitcoin hashrate.
“Due to the substantial progress we’ve made in the past few months scaling the business and improving our financial position, we thought it was appropriate to disclose more pertinent operational and financial metrics subsequent to publishing our third quarter 2020 results,” said Chief Executive Officer Merrick Okamoto. “We believe our new investor presentation will serve as an excellent educational resource for our current and prospective investors as it fairly represents where our business is today and where we anticipate heading in the coming quarters.”
https://www.marathonpg.com/news/press-releases/detail/1215/marathon-unveils-new-investor-presentation-with-updated
