Quebec new mining facility is operational

Former patent management company now focuses on ASIC mining
13 March 2018   1784

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

Zhan Tried to Get Control Over Bitmain, But No Luck

Ex CEO called the shareholders meeting and asked to put him as a head again, but most of the shareholers rejected
09 December 2019   50

At a meeting of Bitmain shareholders today, December 9, former CEO Micree Zhang proposed that all directors be recalled and reinstated as the sole head of the company.

Most of the shareholders rejected the offer.

I dont know why Zhan hold this meeting, awkward.
 

One of the shareholders, Bitmain

In a recent speech by Jihan Wu, an inscription was placed on the screen behind him: "The Bitmain you are familiar with is now back."

Zhan was stripped of all posts an threatened with a war when Jihan Wu returned to the CEO's chain in the end of October.