Analysts’ Recommendations to Consider: Marathon Patent Group, Inc. (NASDAQ:MARA)

Marathon Patent Group, Inc. (NASDAQ:MARA) with the stream of 24.80% in the last hour of Wednesday’s trading session.

Marathon Patent Group, Inc. (MARA) had a good day on the market for Wednesday January 06 as shares jumped 24.80% to close at $16.96. About 80,612,931 million shares traded hands on 25.81M trades for the day, compared with an average daily volume of 25.81M shares out of a total float of 45.75M. After opening the trading day at $14.58, shares of Marathon Patent Group, Inc. stayed within a range of $14.25 to $17.58.

With today’s gains, Marathon Patent Group, Inc. now has a market cap of $930.60M. Shares of Marathon Patent Group, Inc. have been trading within a range of $0.35 and $17.58 over the last year, and it had a 50-day SMA of $198.87% and a 200-day SMA of $571.80%.

Marathon Patent Group Inc. (NASDAQ: MARA), (“Marathon”) and DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF: OTC US) (FRANKFURT: 6AX) (“DMG”) have entered into a non-binding memorandum of understanding to form Digital Currency Miners of North America (“DCMNA”), which will be a U.S.-based non-profit entity whose mission is to create a better mining environment for North American miners, to help improve their financial performance, and to create North America’s first cooperative mining pool.

Marathon Patent Group and DMG’s U.S. subsidiary, Blockseer, are working together to establish DCMNA, a non-profit entity focused on North American digital currency opportunities, including decentralizing the Bitcoin hashrate and providing more transparency for North American miners. DCMNA’s principal initiative is to create North America’s first cooperative mining pool by licensing Blockseer’s mining pool to all DCMNA members in a cooperative structure. Mining partners who are members will receive rebates based on the hash rate they contribute to the overall pool, thus improving the mining profitability of DCMNA members.

As a founding member of DCMNA and one of North America’s largest enterprise Bitcoin mining companies, Marathon will put all of its mining hashrate (equivalent to 10.36 EH/s, or 7.6% of the total Bitcoin network’s hashrate, if all miners were deployed today at current levels) into the pool.

Benefits of the mining pool include, but are not limited to:

  • Profit sharing, whereby miners receive rebates based on their contributed hashrate
  • Increased transparency as all financial information will be audited by a third-party U.S.-based financial audit firm
  • Lobbying efforts to improve the policies and regulatory environment in North America for miners
  • “Clean block mining” that adheres to the Office of Foreign Asset Control’s (OFAC’s) compliance standards and reduces the risk of mining blocks that include transactions linked to nefarious activities

DCMNA is focused on increasing transparency, trust, and accountability in the emerging mining industry, particularly as more institutions embrace Bitcoin as a store of value. Unlike other Bitcoin mining pools, Blockseer’s pool will be audited by an independent auditing firm, ensuring that the miners receive accurate rewards and that auditors and regulators can trust the data provided. Using DMG’s proprietary patent pending technologies, the pool will also create transaction blocks that specifically omit any transactions deemed risky by Walletscore, and which may not meet OFAC standards. As a result, North American miners who are DCMNA members will reduce the risk of the blocks they mine containing transactions tied to criminal or terrorist-related activities.

DCMNA will also act as unified group to lobby government bodies and regulators on behalf of its membership. The organization will be governed by its mining members, while Marathon’s executive chairman, Merrick Okamoto, will serve as DCMNA’s inaugural chairman. A membership committee will also be formed to develop and regulate DCMNA’s operations and investments in North American digital currency mining issues, which will be identified by its membership.

“We are tremendously proud to lead the launch of DCMNA, a non-profit organization, whose first mandate is to bring its members a vast improvement in mining pool operations by licensing the Blockseer pool to serve our North American mining members,” said Marathon’s executive chairman, Merrick Okamoto. “To date, companies such as ours have relied on pools primarily based in Asia to connect to the Bitcoin network, and we have been frustrated by the lack of transparency and audited data. Marathon has been a leader both in terms of market capitalization and also in terms of lobbying regulators on behalf of our industry, and we look forward to working diligently to build the capabilities of DCMNA on behalf of our mining partners and DCMNA’s new members.”

Dan Reitzik, DMG’s CEO added, “It is an honor to work with Marathon to establish the DCMNA and to provide the technological components for the DCMNA organization. When DMG acquired Datient, the parent of Blockseer in 2018, our intention was to create solutions that would benefit our industry as a whole and increase trust in the Bitcoin ecosystem. Mining is a unique industry, in that miners do not necessarily compete with one another for customers or contracts, but instead work together to secure the blockchain on which Bitcoin transactions are processed. It simply makes sense to amalgamate North American miners toward common goals, and the Blockseer pool is the ideal way in which to lead this process in a safe, transparent, and compliant way.”

Terms of the memorandum of understanding include DMG licensing Blockseer’s technology and associated intellectual property to DCMNA, as well as the management of pool operations. Upon completion of a definitive agreement, detailed terms and conditions will be provided in an upcoming news release. Pool operations are expected to commence shortly after entering into a definitive agreement.

The PEG ratio is used to determine a stock’s value while taking the company’s earnings growth into account, and is considered to provide a more complete picture than the P/E ratio. Last traded has a PEG ratio of 0 where as its P/E ratio was 0. The overall volume in the last trading session was 80,612,931 shares.

Important Results:

Marathon Patent Group, Inc. has P/S value of 465.30 while its P/B esteem remains at 14.75. Likewise, the company has Return on Assets of -42.10%, Return on Equity of -48.30% and Return on Investment of -88.20%. The company demonstrates Gross Margin and Operating Margin of 0 and 0 respectively.

MARA’s price to sales ratio for trailing twelve months was 465.30 and price to book ratio for most recent quarter was 14.75, whereas price to cash per share for the most recent quarter was 52.58. The Company’s price to free cash flow for trailing twelve months was recorded as 0.

Historical Performances to Consider:

The Stock’s performances for Monthly, weekly, half-yearly, quarterly & year-to-date are mentioned below:-

On a Monthly basis the stock was 214.07%. On a weekly basis, the stock remained 44.22%. The half-yearly performance for the stock has 1596.00%, while the quarterly performance was 806.95%. Looking further out we can see that the stock has moved 62.45% over the year to date. Other technical indicators are worth considering in assessing the prospects for EQT. RSI for instance was stand at 75.66.

Clark Joseph

About Clark Joseph

It's Clark Joseph and a well-known professional writer with over 8 years’ experience in finance issues. I maintain a finance website where readers can get valuable information about the stock market and helpful predictions. I have mentored many writers hoping to make a career out of writing. I studied finance in the University of Leading and graduated with honors. My wife is also a finance specialist and is also a professional writer.

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