Share this article
Bitcoin Miner Marathon Patent Group Completes $200M Capital Raise
Nasdaq-listed Marathon said it will use the funds to pay for recent hardware purchases from Bitmain and to expand its business.
Updated May 9, 2023, 3:14 a.m. Published Jan 4, 2021, 2:15 p.m.
Nasdaq-listed bitcoin mining firm Marathon Patent Group (MARA) has announced the completion of a $200 million capital raise.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- U.S.-based Marathon reported Monday that following the previously announced shelf offering, it had ended the 2020 fiscal year with $217.6 million in cash and 74,656,549 shares outstanding.
- The company plans to use the funds to pay for major purchases of bitcoin miners from manufacturer Bitmain, as well as further expand the business.
- So far, Marathon said it has bought 103,060 miners that, once delivered and deployed, are expected to produce approximately 10.36 EH/s in hash power.
- It said 15,200 of these units are scheduled to be shipped in the first quarter of 2021. The company is further anticipating installing 4,000 units in February, 6,300 in March and 4,800 in April.
- If all the miners were deployed immediately, at a bitcoin price of $28,000, "we would produce approximately $618 million in revenue annually and approximately $523 million in gross profit annually,” said Marathon’s chairman and CEO, Merrick Okamoto, citing numbers from mining profit calculators.
Read more: Marathon Patent Agrees to Buy 70K ASIC Miners From Bitmain for $170M
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
USDC Issuer Circle Secures Abu Dhabi's ADGM License in Middle East Expansion
The license allows Circle to expand USDC payment and settlement tools across the United Arab Emirates.
What to know:
- Circle has obtained a Financial Services Permission license from Abu Dhabi Global Market, allowing it to operate as a Money Services Provider in the UAE.
- The stablecoin issuer has appointed Dr. Saeeda Jaffar, former manager at payments firm Visa.
- The approval comes as part of the UAE's emergence as a global hub for regulated digital assets, following similar licenses granted to Binance.
Top Stories
