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Nasdaq-Listed Company Marathon Patent Group Bought 4,812 BTC For $150 Million

Mary Liu

Summary: Marathon Patent Group, a Nasdaq-listed Bitcoin mining company said on Monday that it has purchased 4,812.66 BTC with total cash of $150 million. The purchase was made through the New York Digital Investment Group (NYDIG) at an average price of $31,168, Marathon believes holding Bitcoin is better than the easily depreciated cash.  Merrick Okamoto, the ...

Marathon Patent Group, a Nasdaq-listed Bitcoin mining company said on Monday that it has purchased 4,812.66 BTC with total cash of $150 million.

The purchase was made through the New York Digital Investment Group (NYDIG) at an average price of $31,168, Marathon believes holding Bitcoin is better than the easily depreciated cash. 

Merrick Okamoto, the company's CEO stated that Marathon recently raised about $250 million for the purchase of new miners, but the delivery is expected to be delayed due to the current shortage of chips.

By Mary Liu

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