Marathon Patent Group, Inc. (NASDAQ: MARA) is an IP licensing and management company. The Company acquires and manages IP rights from a variety of sources, including large and small corporations, universities and other IP owners. Marathon has a global focus on IP acquisition and management. Marathon announced November 2, 2017 that it has entered into a definitive purchase agreement to acquire 100% ownership of Global Bit Ventures Inc. ("GBV"), a digital asset technology company that mines cryptocurrencies. GBV has robust infrastructure in place with significant capability for expansion. The closing of the transaction is subject to obtaining requisite approvals.
Global Bit Ventures Inc. is a growth oriented, private Nevada incorporated company, with operations in Quebec where it is strategically positioned to accelerate growth. GBV owns state-of-the-art GPU-based servers used to mine digital assets.
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