By - No_Dependent4663
These are all tiny turbulences for MARA. In coming months, mara will prevail. Paper hands will leave and diamond hands will make most profit.
I'd love to believe this. Prove you aren't a bot first.
Bitcoin itself is hype. It’s basically useless, but it has value because we think people think it has value, even though we all know no one believes this. It’s more akin to art than a commodity; it’s financial mystique. It has no intrinsic value, it’s production is damaging to the environment, and it’s usefulness as a medium of exchange is low and it is inferior to other crypto projects. We all know it’s nearly worthless, yet lots of people invest significant resources to mine it and since it’s inception it’s created $1T of surplus out of thin air, which creates enough doubt on our common sense notions to support an investment thesis. MARA is hype on hype. It has yet to produce significant numbers of bitcoins. Most of its perceived value lies in the belief that Bitcoin will continue to rise, its production will remain unaffected by environmental regulations, and that MARA will sustainably capture a significant share of global Bitcoin production; investing in MARA is highly speculative and shares will therefore probably be subject to extreme fluctuations. Long term MARA will either lose 90%+ of see its value increase by 10x or more. It could see its supply agreement with Bitmain go away, which would sink the company. Their electricity rates could rise significantly, sinking the company. Bitcoin could crash, which would sink the company. Their fleet of miners could be subject to a casualty occurrence, sinking the company. Yet it’s market cap is nearly $4B. I could see that doubling over time by them merely renaming the company. The fact that they are still called Marathon Patent Group is itself interesting. In some ways it shows that management is not going out of its way to alter public perception. All of their press releases regarding mining and profitability are pretty transparent and concrete. Hype is still there, but it’s not being fostered by management and I don’t see the insider selling as an issue (I would do likewise if I were in their position).
I think a long term straddle is the best way to approach investing in this company, although the options are fairly pricey.
Name change confirmed.
Nice. Hopefully that stirs up some new interest. Next, we need Elon to tweet about running a marathon.
Is that where the CUSIP change came from?
You've left out the most important part: THE PROCEEDS from their dilutions all went to 2 places 1) Purchasing thousands of new BitMining Systems and 2) Tens of millions of dollars in Bitcoin itself. THEY are major holders at much lower prices. The company goes up in valuation no matter what their hash rate is at that point.