On 50 Million Shares Marathon Patent Group Surges 25%

NASDAQ: MARA has been rising since the beginning of May when the company announced the purchase of 500 additional ASIC miners that are probably made in China. Cryptocurrency miners mostly prefer AMD and NVIDIA to avoid mining only Bitcoin since other coins increase in prices too.

Besides mining activities, Marathon Patent focuses on building other sources of revenue while having financial issues in covering operational expenses. Being dependent on Bitcoin’s price creates an obvious risk for management.

Mid of 2016 was a turning point for MARA in falling from $47.36 to $0.27 by making investors lose significant funds. However, its market capitalization stays overvalued with negative EPS (12 months based)