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Marathon operates as a digital asset technology company that mines cryptocurrencies. It owns cryptocurrency mining machines and a data center to mine digital assets in Quebec, Canada.
Marathon estimates that once all 23,560 of its miners are deployed in Q2 2021, producing 15-20 bitcoin/day based on ~$16,000 bitcoin price, the company will generate $8.8M in revenue per month and $6.7M in gross profit per month.
But yesterday, they did something I wasn't expecting...they bought over 4800 bitcoin for their treasury reserves. My $60 price target is looking real conservative at this point.
https://leofinance.io/@rollandthomas/my-4th-ever-call-synthetic-long-option-marathon-patent
https://leofinance.io/@rollandthomas/got-to-love-the-greeks-marathon-patent
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