MARA Holdings Inc Stock Price, News & Analysis

Marathon Patent Group (MARA) announced the deployment of 1,360 new miners, raising its Hashrate production to 186/Ph. This includes 700 WhatsMiner M31S+ Miners from MicroBT and 600 S19 Pro Antminers from Bitmain. Additional purchases of 1,000 S19 Pro Antminers are set, with 500 arriving in September and December, aiming for a total production of 296/Ph. A Long-Term Purchase Agreement for 10,500 S19 Pro Antminers will further increase Hashrate by 1,155/Ph, projecting nearly 1.5 Exahash. The company is now debt-free and anticipates cash flow positivity.

Marathon Patent Group, Inc. (NASDAQ: MARA) announced on August 21, 2020, that it has regained compliance with NASDAQ Listing Rule 5550(a)(2). This follows a notification of non-compliance received on April 6, 2020, due to a closing bid price below $1 for 30 consecutive days. The company has maintained a minimum bid price of $1.00 per share for the last 20 consecutive business days, which allowed for the reinstatement. Marathon highlights the inherent risks associated with investing and the potential impacts of mining difficulty and Bitcoin hashrate on future performance.

Marathon Patent Group (NASDAQ:MARA) has announced a Long Term Purchase Contract with Bitmain for 10,500 Antminer S-19 Pro ASIC Miners, aiming to solidify its position as a leading Bitcoin miner in North America. Following recent growth, Marathon expects to have a total of 13,520 miners generating 1.55 Exahash. The deal locks in lower prices and mitigates risks tied to future price hikes. With recent deliveries boosting their operational capacity, positive net cash flow is anticipated based on current Bitcoin prices.

Marathon Patent Group (NASDAQ:MARA) announced the purchase of 700 M31S+ ASIC Miners from MicroBT, with arrival expected in mid-August. Additionally, 660 of the 1,660 Bitmain S-19 Pro Miners will also arrive in the same timeframe. CEO Merrick Okamoto stated that current operations produce 56 PH/s, which will increase to 184 PH/s after new miners are installed. The total aggregate hashing power is projected to reach 294 PH/s by the fourth quarter, potentially leading to positive cash flow based on Bitcoin prices.

Marathon Patent Group (Nasdaq: MARA) announced the closing of its public offering of 7,666,666 shares of common stock at $0.90 per share, raising approximately $6.9 million before expenses. The underwriter, H.C. Wainwright & Co., exercised an option for an additional 999,999 shares. This offering was registered under the SEC and finalized with a prospectus submitted on July 27, 2020. The company warns that forward-looking statements in the release are subject to risks that may cause actual results to differ from expectations.

Marathon Patent Group (NASDAQ:MARA) has announced the pricing of its public offering of 6,666,667 shares at $0.90 each, aiming to raise approximately $6.0 million. The funds will be used for general corporate purposes and business expansion. The offering is set to close around July 28, 2020, pending customary conditions. H.C. Wainwright & Co. is the sole book-running manager, with a 45-day option for the underwriter to purchase an additional 999,999 shares. This offering is registered under the SEC and is subject to various risks.

Marathon Patent Group (NASDAQ:MARA) has purchased 500 new Bitmain S19 Pro miners, expected to generate 55 PH/s of hashing power. This will increase the company’s total hashing power to approximately 240 PH/s. The purchase cost was $1,190,000, and delivery is expected by the end of September. With this addition, Marathon aims for a 500% increase in its hashing rate compared to previous levels. The company has been actively acquiring miners due to rising Bitcoin demand, which has caused delays in deliveries.

On June 3, 2020, Marathon Patent Group (NASDAQ:MARA) announced the installation of 700 M30S+ ASIC Bitcoin Miners, enhancing their mining capacity. Additionally, the company reported the successful conversion of a $999,105.60 Convertible Note, eliminating long-term debt and positively boosting its balance sheet and stockholder equity. Investors are warned of high investment risks associated with the company's operations.

Marathon Patent Group, Inc. (MARA) reported a significant 157% increase in revenues, reaching $592,487 for the first quarter of 2020, compared to $230,694 in Q1 2019. However, the operating loss grew to approximately $1.1 million from $1 million year-over-year. The net loss per share improved to $(0.12), an improvement from $(0.16) the previous year. The company has raised $5.5 million through an ATM and purchased $3 million in new mining equipment. CEO Merrick Okamoto expressed optimism about future growth, citing the acquisition of 1,360 next-gen miners.