Quebec new mining facility is operational

Former patent management company now focuses on ASIC mining
13 March 2018   179

Today, Marathon Patent Group, Inc. launched its brand new facility in Quebec, Canada. The facility is a fresh start for a company as it engages into Bitcoin mining game. Formerly, Marathon dealt with patents and commerce, it purchased and maintained intellectual properties of different organizations of all sizes from big corporations to universities and small startups.

Earlier, the company leased 2,5 sq km of space in Quebec specifically for establishing a data centre and cooperated with Bitmain on the matters of acquiring 1,400 units of Bitmain's Antminer S9 mining rigs. With this setup, 19Ph/s of ASIC mining capacity is expected to be carried out. Marathon is planning to add 2,800 more units to the facility. These machines are capable of mining both Bitcoin as well as other digital currencies like Bitcoin Cash, as the algorithm remains the same - SHA256. The company is clearly focused on mining cryptocurrencies with adding new crypto assets along the process and thus expanding its portfolio.

Judging by the stocks reaction - the stock (Nasdaq:MARA) is on the rise with 32% already gained, investors are pleased with the business shift. And it seems that traditional stock investors have found an elegant way to be exposed to the emerging market of digital assets.

Today’s announcement represents a milestone for the Company. I’d like to thank everyone that worked so hard to make this day a reality for our shareholders.


Merrick D. Okamoto

Interim Chief Executive Officer, Marathon

Largest mining farm to be built in the UK

The well-known UK tech company Bladetec is building the first large Bitcoin mining farm in Europe
20 March 2018   192

Bladetec had already got an experience in IT support for NATO and the Ministry of Defence of the UK in the past. Today its idea is funded by investors in a limited company which is protected by UK law.

The facility - Third Bladetec Bitcoin Mining Company (TBBMC), situated on the Southeast of the country, is going to cover 3,500 square feet in three different places: in London, Suffolk and Surrey.

Today the company is raising £10 million from investors for building and operating the farm for up 2 years. The farm will become global and significant, also it is supposed to be introduced in the world`s top 25 and produce considerable return for shareholders (as a result of its dominant position).

The minimum investment to TBBMC project set by the company is £ 5,000 from each applicant. The project allows the capital growth up to even 45 % within a period of 2-3 years. The returns for the shareholders at that stage would be based on the Bitcoins sales`proceeds and the ASIC machines. If the price of Bitcoin does drop by 40 %, an investor may lose 22 % of his capital.

The company declared that it is going to mine 1,280 bitcoins within a period of two years. Nowadays it's difficult to predict how much those Bitcoins may be worth in two years. According to current prices, they will be valued at £ 7,8 million. But the situation may probably change before 2021. As for the raised funds, they would mostly be spent on the energy costs, despite the low energy bills' agreement between Bladetec company and the intended wind farm.

Bitcoin mining is more popular in the countries where the weather is cold (such as Iceland and China). The government of Iceland can implement a tax on mining because of the energy consumption. Chinese authorities insists on the ending of the cryptocurrency trading and mining in the country.