Blockchain / Cryptocurrency Stock News Bites: Marathon Patent Group (NASDAQ: $MARA) Announces Installation of 700 M30s+ Asic Miners and Company is Debt Free
700 Miners Expected to Generate 56 Ph/s (Petahash) of Hashing Power
LAS VEGAS - June 3, 2020 (Investorideas.com Newswire) Blockchain / Cryptocurrency Stock News Bites - Marathon Patent Group, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), one of the few Nasdaq listed cryptocurrency mining companies in the United States, today announced the completed installation of 700 M30S+ ASIC Bitcoin Miners that were purchased on May 11, 2020. The company is awaiting delivery of 1,160 Bitmain S19 Pro ASIC Miners in the next 60 days.
Convertible Note Fully Converted to Equity
On May 19, 2020, Marathon announced the reduction of the conversion price of Convertible Note originally issued on August 31, 2017. The entire principal balance of $999,105.60 and $215,411.30 of accrued interest has been fully converted by the Note holder to Marathon Common stock, reducing the company's Long-Term Debt to zero. This reduction in Debt results in a substantial improvement in the company's Balance Sheet and increases our Stockholders Equity.
Read the company's full news and disclaimer here: https://www.marathonpg.com/news/press-releases/detail/1200/marathon-patent-group-announces-installation-of-700-m30s
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