Manhattan patent group is an excited race. a few years ago ,the company tried to commercialize intellectual property , as you might guess by its name. However , When it did not stop , the Marathon suddenly became the focal point for cryptocurrency mining in 2017 . Mara stock briefly increased.
This excitement soon shone through .as the bitcoin dropped from 000 20,000 to $ 4,000, interest in Marathons and other cryptocurrency and block chain stocks waned . Shares of Marathon fell from a peak of $ 23 to less than a dollar.
However, cryptocurrencies are back . The bitcoin has once again risen above once again risen above the 10,000 marks , and many alt coins such as Ethereum and ripple are also in the lead.
Marathon patent stock is not only cryptocurrency as you might think it is August 28, 2020, Marathon patent group is an exciting race. A few hears ago , the company tried to commercialize intellectual property , as you might guess by its name. however , when it did not stop , the Marathon suddenly became the focal point for cryptocurrency mining in 2017 . Mara stock briefly increased.
As for the Marathon , it is far from certain that there is a viable business model. The company had revenue of only 28 286,000. that’s down from 35 356,000 in the same period last year . Not only is it a small business microscopically, but it is also a shrinking business. Worst of all , its profit margins are closing . In this quarter of 2019,the company spent 9 499,000 to develop 359,000 cry cryptocurrency . Very bad. However , it got worse.
In previous quarter , Mara spent 40 740,000 on direct operating expensive , earning only 28 286,000. Needless to say, spending three rupees to withdraw one dollar cryptocurrency is not a winning strategy.
Mara stock penalty Even if you are happy with the future of cryptocurrencies , a Marathon is not a good investment. For example , since the 2017 peak , the value of the bitcoins has lost about 40% of its value . Then Bitcoin was close to $ 20,000, and now it comes to 000 12,000.
Mean while , Mara stock speared . The Marathon hit 23 % in 2017 and fell to less than 50 cents earlier this year before returning to its recent recovery . Still, however, with prices around 3, the stock is down about 90 90, while the bit coin is down only 40%.
Marathon announced that it would purchase an additional 10,500 mining rings . This is a bold move, despite the fact that the marathon current mining operations are largely in the red. When you losing money adding more capacity is a wired decision . The thing is, Marathon is now mining such a small amount of crypto that it has to struggle to make a profit . Even if the price of crypto had quadrupled in the Marathon would still have generated only 1 million in revenue and an operating loss of $ 1 million.
Marathon patent stock is not the cryptocurrency