$MARA Is One Hot Crypto Ticker

Another penny stock ticker that’s worth noting and keeping on your watchlist is $MARA. The momentum, traction, and attention that this company has been getting are certainly something investors shouldn’t neglect. 

Before we move on a little further into the market summary, here’s a brief summary of Marathon Patent Group, Inc. for investors who have never heard of it.

Brief Summary: Marathon Patent Group, Inc. / $MARA

To keep it short, Marathon Patent Group, Inc. is a digital asset company that focuses on mining cryptocurrencies. According to numerous cryptocurrency believers, this type of currency will be the future. 

What do you think?

Marathon Patent Group’s focus on the blockchain has intrigued many cryptocurrency investors. At the moment, the company is currently operating a mining facility in Quebec.

Whether cryptocurrencies will be the future or not, the topic has been a debate since the beginning and introduction of Bitcoin. 

Let’s go over the current market summary of $MARA.

Marathon Patent Group, Inc. Price, Market Cap, And Volume

At the moment, the price of $MARA is $1.04 after the market closed on Friday. When comparing the current volume to the average volume, the current volume outweighs the average. The average volume of $MARA is 5,718,766 while Friday’s market movement displays a volume of 24,926,863 shares. That’s definitely incredible. Another attractive market stats about $MARA is that the market cap is only at $22.652 million. We definitely still have a lot of room to move up.

According to Yahoo Finance, its algorithm detected a bullish signal expecting a positive price movement within the next several weeks.

With all that aside, let’s hear about Marathon Patent Group’s latest news and reports.

Marathon Patent Group: Latest News

May 19th, 2020: Published by GlobeNewswire, it was reported that Marathon Patent Group made an additional purchase of 500 the latest generation of Bitmain S19 Pro Miners.

To give you additional stats and info about this purchase, the company will be able to:

  • Produce 110 TH/s
  • Generate 56 PH/s
  • Bringing Marathon Patent Group a total of 185 PH/s

The amount paid comes out to $1,258,500 and expecting the units by the end of August.

June 3rd, 2020: Published by GlobeNewswire, the article mentioned that Marathon Patent Group installed 700 MS30S+ ASIC miners as well as being debt-free.

Now that’s two good news in one.

Mentioned in the press release, Marathon Patent Group’s long-term debt is now at zero.

June 11th, 2020: Published by GlobeNewswire, it was announced that Marathon Patent Group made another purchase of 500 more of the latest version of S19 Pro ASIC miners. This purchase cost $1,190,000 and they’re expecting to receive these units by the end of September.

Now – the good news is that Marathon Patent Group will have 500 units installed in August and another 500 units in September. Because of this, investors can expect higher earning coming from the company. 

As of right now, it’s worth keeping $MARA on your watchlist to see how the price will move within the next couple of months.

Note: For this $MARA guide, please note that this post isn’t to help investors make a financial decision. It’s advised that readers should do their own due diligence.

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