Shares of digital currency mining firm Marathon Patent Group (NASDAQ: MARA) surged approximately 20% on Wednesday (January 6, 2021). This led to the firm becoming the latest member of the $1 billion digital-mining group, as the Bitcoin (BTC) price surpassed the $37,000 mark to hit another all-time high.
FactSet data reveals that the market value of Marathon Patent (MARA) stands at $1.030 billion, after the company’s shares surged 20% in value, resulting in a $165 million increase in Marathon’s market cap (from yesterday’s rise).
Marathon has gained over 55% in January 2021 and Wednesday’s market rally has helped the company join other profitable mining firms such as Riot Blockchain (NASDAQ:RIOT), which has a market cap of around $1.3 billion. Riot’s market value surpassed the billion-dollar mark for the first time in December 2020.
Marathon Patent Group Inc. and DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF: OTC US) (FRANKFURT: 6AX) have signed an MoU to establish the Digital Currency Miners of North America, which will be a U.S.-based non-profit entity “whose mission is to create a better mining environment for North American miners, to help improve their financial performance, and to create North America’s first cooperative mining pool.”