Marathon Unveils New Investor Presentation with Updated Financial and Operational Metrics
November 18 2020 - 8:15AM
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.”
About Marathon Patent GroupMarathon is a
digital asset technology company that mines cryptocurrencies, with
a focus on the blockchain ecosystem and the generation of digital
assets. For more information, visit www.marathonpg.com.
DisclaimerThis press release is not intended to
be and should not be considered as forward-looking statements by
the Company. It is impossible to forecast what the price of bitcoin
or the hash rate difficulty will be on any specific date, including
during July 2021, when all of the Company's miners are expected to
be deployed. This press release is for illustrative purposes only
to provide the reader with an estimate of the Company's potential
gross revenue, mining power and hosting costs, which might be
attained if all miners were deployed as of a specific date and with
certain parameters used, as set forth below. The source of this
estimate is the Bitcoin Profit Calculator provided to the Company
by ViaBTC, the mining pool that is currently used by the Company. A
link to this calculator can be found at
https://www.viabtc.com/?lang=en_US. The parameters used were: total
hash rate of 128, bitcoin price of $16,000, power costs of
$0.028/Kwh and a hosting fee of $0.006/Kwh.
Investor NoticeInvesting in our securities
involves a high degree of 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 were to
occur, our business, financial condition or results of operations
would likely suffer. In that event, the value of our securities
could decline, and you could lose part or all of your investment.
The risks and uncertainties we describe are not the only ones
facing us. Additional risks not presently known to us or that we
currently deem immaterial may also impair 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 anticipate results in the future. Lastly, with the
current worldwide situation caused by COVID-19, there can be no
assurances as to when we may see any long term sustained recovery
in the bitcoin market, and if so, whether any recovery might be
significant.
Forward-Looking StatementsStatements made 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, as amended.
Forward-looking statements can be identified by the use of words
such as “may,” “will,” “plan,” “should,” “expect,” “anticipate,”
“estimate,” “continue,” or comparable terminology. Such
forward-looking statements are inherently subject to certain risks,
trends and uncertainties, many of which the Company cannot predict
with accuracy and some of which the Company might not even
anticipate and involve factors that may cause actual results to
differ materially from those projected or suggested. Readers are
cautioned not to place undue reliance on these forward-looking
statements and are advised to consider the factors listed above
together with the additional factors under the heading “Risk
Factors” in the Company's Annual Reports on Form 10-K, as may be
supplemented or amended by the Company's Quarterly Reports on Form
10-Q. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events, new information or otherwise.
Marathon Patent Group Company
Contact:Jason AssadTelephone:
678-570-6791Email: Jason@marathonpg.com
Marathon Patent Group Investor
Contact:Gateway Investor RelationsMatt Glover and Charlie
Schumacher Telephone: 949-574-3860Email: MARA@gatewayir.com
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