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.
Marathon Patent Group
Jonas Schnelli joins other Bitcoin developers who are sponsored by high-caliber Bitcoin companies.
The Nasdaq-listed mining company wants to become a "pure-play bitcoin investment option" for Wall Street.
Marathon’s ASIC spending spree is one of many, and it could signal that bitcoin’s hashrate will hit new highs still this year.
The Las Vegas company has agreed to a direct offering of 12.5 million shares of common stock at $20 per share.
At the crypto market's 2017 peak, Marathon barely had $50 million in market capitalization.
Marathon Patent Group
