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For those of you new to $MARA and/or crypto in general, here is a brief history. Marathon Patent Group was, up until Nov 2017, in the business of owning and monetizing intellectual property, hence the name. On Nov 2, 2017, right before the peak of the last crypto bull market,
For those of you new to $MARA and/or crypto in general, here is a brief history. Marathon Patent Group was, up until Nov 2017, in the business of owning and monetizing intellectual property, hence the name. On Nov 2, 2017, right before the peak of the last crypto bull market,
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$MARA bought 100% ownership in a mining company called Global Bit Ventures, and spun off it's patent and IP holdings into SPEs, and from that point forward it has focused solely on mining crypto, primarily #bitcoin
but other crypto as well.
$MARA bought 100% ownership in a mining company called Global Bit Ventures, and spun off it's patent and IP holdings into SPEs, and from that point forward it has focused solely on mining crypto, primarily #bitcoin
but other crypto as well.
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All the price action prior to its restructuring is irrelevant, as it was basically a completely different company. At the time of the merger announcement, $MARA was ranging right around where it is now, after split adjustment.
All the price action prior to its restructuring is irrelevant, as it was basically a completely different company. At the time of the merger announcement, $MARA was ranging right around where it is now, after split adjustment.
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After the announcement, it hit a high of $40 in 3 days as $BTC approached $10K for the first time in history. When $BTC peaked on 12/17/17, $MARA traded at $28, and then it slowly bled down to the low $1 range, with minor spikes in correlation with #bitcoin price.
After the announcement, it hit a high of $40 in 3 days as $BTC approached $10K for the first time in history. When $BTC peaked on 12/17/17, $MARA traded at $28, and then it slowly bled down to the low $1 range, with minor spikes in correlation with #bitcoin
price.
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For those of you who don't remember or weren't around in 2017, #bitcoin took off like a rocket, crossing $10K for the first time on 11/27 and hitting its ATH of almost $20K just 20 days later on 12/17.
For those of you who don't remember or weren't around in 2017, #bitcoin
took off like a rocket, crossing $10K for the first time on 11/27 and hitting its ATH of almost $20K just 20 days later on 12/17.
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It went completely parabolic, sparking the most exciting 3 weeks in crypto trading history and creating the seductive dragon we've all been chasing ever since.
Since we broke the downtrend and entered a new bull market a couple weeks ago, shares of $MARA have been rising,
It went completely parabolic, sparking the most exciting 3 weeks in crypto trading history and creating the seductive dragon we've all been chasing ever since.
Since we broke the downtrend and entered a new bull market a couple weeks ago, shares of $MARA have been rising,
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along with $RIOT Blockchain, another publicly traded mining company with a similar backstory. But things are a lot different now than they were in 2017/18.
You've got the recent #bitcoin halving, mass global adoption of crypto, and out of control fiat money printing,
along with $RIOT Blockchain, another publicly traded mining company with a similar backstory. But things are a lot different now than they were in 2017/18.
You've got the recent #bitcoin
halving, mass global adoption of crypto, and out of control fiat money printing,
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which have all led to a more sustained run up in $BTC price since bottoming in Dec 2018. Since then, #bitcoin has closed over $10K several times while testing several support levels along the way. Despite it's volatility, it has demonstrated long-term stability.
which have all led to a more sustained run up in $BTC price since bottoming in Dec 2018. Since then, #bitcoin
has closed over $10K several times while testing several support levels along the way. Despite it's volatility, it has demonstrated long-term stability.
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And $MARA has added thousands of miners to its operation in this time, with it's most recent acquisition putting it, for the first time since its reorg, in reach of positive cash flow and profitability by the end of this month.
And $MARA has added thousands of miners to its operation in this time, with it's most recent acquisition putting it, for the first time since its reorg, in reach of positive cash flow and profitability by the end of this month.
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As #bitcoin continues its march back to $20K and beyond, which there is little doubt it will at this point, we can expect $MARA to start making real money, and in the process revisit and likely breakthrough its local highs set back in late 2017/early 2018.
As #bitcoin
continues its march back to $20K and beyond, which there is little doubt it will at this point, we can expect $MARA to start making real money, and in the process revisit and likely breakthrough its local highs set back in late 2017/early 2018.
