(MENAFN- Investor Ideas)
LAS VEGAS - March 16, 2021 - Investorideas.com ( ) Cryptocurrency Stock News Bites - Marathon Digital Holdings, Inc. (NASDAQ:MARA) one of the largest enterprise bitcoin self-mining companies in North America, reported financial results for the fourth quarter and fiscal year ended December 31, 2020.
Fourth Quarter 2020 and Recent Highlights
- Purchased 90,000 of the industry';s most efficient Bitcoin miners during the fourth quarter, increasing the Company';s mining fleet to approximately 103,120 miners capable of producing 10.37 EX/s (exahash per second) by the first quarter of 2022
- Initiated construction of mining facility adjacent to Beowulf';s energy plant in Hardin, MT, supplying Marathon long-term access to electricity at 2.8¢/kWh
- As of March 15, 2021, installed 3,697 S-19 ASIC miners at the mining facility Hardin, MT, increasing Marathon';s current active mining fleet to 5,690 miners with an additional 6,641 already delivered from Bitmain and in the process of being installed
- Formed the Digital Currency Miners of North America (DCMNA), a U.S.-based non-profit aimed at improving the mining environment for North American miners
- As of December 31, 2020, the Company had $216.1 million in cash and cash equivalents and total liabilities of $1.5 million
- As of December 31, 2020, the Company generated and held over $2.3 million in bitcoins as digital currencies
- As of March 15, 2021, the Company had $219.0 million in cash and cash equivalents (*unaudited)
- As of March 15, 2021, the Company generated and held over 254 bitcoins, each of which had a market price of approximately $56,413; as a result, the approximate value of Marathon';s bitcoins held as digital currencies was over $14.3 million (*unaudited)
- Subsequent to year end, purchased 4,812.66 bitcoins for $150 million (average purchase price of $31,168 per BTC), establishing the Company as one of the only pure-play Bitcoin investment options; as of March 15, 2021, the Company';s $150 million investment in Bitcoin has a fair market value of approximately $271 million, a gain of approximately 81%
- Rebranded to Marathon Digital Holdings, reflecting the Company';s position as a leading digital asset technology company
- Strengthened management team with the appointments of Simeon Salzman to chief financial officer and Kevin A. DeNuccio to board of directors
Read the company';s full news and disclaimer here:
Research more bitcoin, crypto and blockchain stocks with Investorideas.com stock directory
About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea';s original branded content includes the following podcasts and columns: Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change , Exploring Mining the AI Eye .
Stock Bites is a branded product of Investorideas.com
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. This stock bites news release publication is available as a paid for service on Investorideas.com
More disclaimer info: Learn more about publishing your news release and our other news services on the Investorideas.com newswire and tickertagstocknews.com
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy:
Follow us on Twitter
Follow us on Facebook
Follow us on YouTube
Download our Mobile App for iPhone and Android
Get free investor news alerts
Contact Investorideas.com
800 665 0411
Get more Bitcoin, Blockchain, Digital Currency stock investor ideas - news, articles, podcasts and stock directories
Buy a crypto guest post on Investorideas.com MENAFN20052022000142011025ID1104246379
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.