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500 Miners Accepted to Accomplish 55 PH/s (petahash) of Hashing Power



Company Estimates Access in Operating Hashrate to About 240 PH/s Back all Miners are Received and Deployed



LAS VEGAS, June 11, 2020 (GLOBE NEWSWIRE) — Marathon Patent Group, Inc. (NASDAQ: MARA ) (“Marathon” or “Company”), one of the few Nasdaq listed cryptocurrency mining companies in the United States, today appear the acquirement of an added 500 of the latest bearing Bitmain S19 Pro Miners.

These 500 miners will aftermath 110 TH/s and accomplish 55 PH/s (petahash) of hashing power, bringing the Company’s absolute Hashrate to about 240 PH/s back absolutely deployed. This compares to the Company’s antecedent S-9 assembly of 46 PH/s. The acquirement amount paid was $1,190,000. The Aggregation expects to booty commitment of these latest units by the end of September.

On May 11, 2020, Marathon appear the acquirement of 700 M30S (80 TH) miners which now accept been absolutely installed and are operational. On May 12, 2020, the Aggregation appear the acquirement 660 Bitmain S19 Pro Miners followed by the appear acquirement of an added 500 on May 19, 2020. Today’s advertisement of the acquirement of an added 500 S19 Pro Miners brings the absolute accompaniment of the art, abutting bearing miners purchased in the accomplished ages to 2,360 units. The Aggregation is assured commitment and accession of 1,160 Bitmain S19 Pro ASIC Miners in about the abutting 30-60 days, followed by the absolute 500 anon thereafter.

Marathon’s Chief Executive Officer, Merrick Okamoto, declared “In the accomplished month, we accept heavily invested in our business through the acquirement of these 2,360 abutting bearing miners. We ahead that, aloft abounding installation, we could acquaintance at atomic a 500% access in our accumulated assortment amount as compared to our assembly ante afore these new miners were acquired and installed.”

With the contempo amount access of Bitcoin, anniversary accumulation of new Bitcoin miners has been affairs out, blame accretion and commitment dates out by several months. The Aggregation has formed absolute aggressively to access miners with the abutting commitment dates in adjustment to accelerate its adeptness to accompany miners online to access up assembly in the beeline timeframe possible. The Aggregation has accomplished this ambition with miners appointed to access in June, July, and September of this year. Alone one NASDAQ listed aggregation has appear a greater access in hashrate accepted this summer than Marathon.

Investor Notice

Investing in our balance involves a aerial amount of risk. Afore authoritative an advance decision, you should anxiously accede the risks, uncertainties and advanced statements declared beneath “Risk Factors” in Item 1A of our best contempo Annual Report on Form 10-K for the budgetary year concluded December 31, 2018. If any of these risks were to occur, our business, banking action or after-effects of operations would acceptable suffer. In that event, the amount of our balance could decline, and you could lose allotment or all of your investment. The risks and uncertainties we call are not the alone ones adverse us. Added risks not anon accepted to us or that we currently account immaterial may additionally blemish our business operations. In addition, our accomplished banking achievement may not be a reliable indicator of approaching performance, and absolute trends should not be acclimated to ahead after-effects in the future. See “Safe Harbor” below.

Forward-Looking Statements

Statements fabricated in this columnist absolution accommodate advanced statements aural the acceptation of Section 27A of the Balance Act of 1933, as amended, and Section 21E of the Balance Exchange Act of 1934. Advanced statements can be articular by the use of words such as “may,” “will,” “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or commensurable terminology. Such advanced statements are inherently accountable to assertive risks, trends and uncertainties, abounding of which the Aggregation cannot adumbrate with accurateness and some of which the Aggregation ability not alike ahead and absorb factors that may account absolute after-effects to alter materially from those projected or suggested. Readers are cautioned not to abode disproportionate assurance on these advanced statements and are brash to accede the factors listed aloft calm with the added factors beneath the branch “Risk Factors” in the Company’s Annual Reports on Form 10-K, as may be supplemented or adapted by the Company’s Quarterly Reports on Form 10-Q. The Aggregation assumes no obligation to amend or supplement advanced statements that become apocryphal because of consecutive events, new advice or otherwise.

CONTACT INFORMATION

Name: Jason Assad Phone: 678-570-6791 Email: Jason@marathonpg.com

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Last Updated: June 16th, 2020 by admin
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