I am a bitcoin miner. Mining is a hot topic in the bitcoin community because many people say it makes bitcoin centralized. Nasdaq, the second largest exchange in the world, has just listed Marathon Patent Group, Inc. (Nasdaq:MARA) which let to immediate 32% up of their stock.
Can we consider this as a bitcoin adoption? Absolutely, we can. Traditional investors just have another indirect exposure to the bitcoin market. It is quite interesting that most people think of adoption when companies like Amazon start accepting bitcoin which I call the direct approach. In business or life, better results are achieved when you switch to the indirect approach. For example, instead of $100 000 profit for the next month, you can set a goal for 5 times more happy customers. Or instead of focusing on finding a girlfriend, you can talk to 100 women you don't know. I have done that and the results usually are better than expected. It is just what nature does.
Let's take a look at Marathon Begins as a company. Located in Quebec Canada according to reports from NASDAQ via Globe Newswire, Marathon had previously announced the purchase of 1,400 Bitmain Antminer S9 miners — commonly known simply as Antminer S9s — on Feb. 8.
A week later, Marathon announced that it had leased 26,700 square feet of space in Quebec to be used as a data center.
Marathon’s Interim Chief Executive Officer and Chairman of the Board of Directors, Merrick Okamoto, stated:
"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".
Marathon used to be a patent IP licensing and commercialization company which acquired and managed intellectual property rights from a variety of sources, including large and small corporations, universities and other patent owners. Now the company is said to be focused on mining digital assets with specialized computer equipment and plans to expand its activities to mine new digital assets. It may utilize the SHA256 algorithm to mine other cryptocurrencies in the future.
Meanwhile, Quebec has been giving the cold shoulder to many new companies looking to mine cryptocurrency in the naturally-cold city.
Quebec boasts relatively cheap energy costs, thanks to nearby dams, which pump out massive amounts of power — so much so that it currently has an excess that needs to be sold off. This fact has attracted no shortage of cryptocurrency mining companies, many of which have found their applications denied.
Do you think Marathon can become a world leader in Bitcoin and cryptocurrency mining? Let me know in the comments below!
I hope you found the article helpful, if yes then don't you mind upvoting, resteeming it and doing with it whatever you like? Remember to stay AWESOME!
Till next time,
Ivan