With Bitcoin surpassing the crucial $28,000 mark, a new bull...

As bitcoin breaks through the key $28,000 mark, a new bull market is ignited. As of December 19th, bitcoin's annual gain is as high as 160%. There are two main reasons driving the rise in cryptocurrencies: market expectations of a US interest rate cut and the imminent approval of a spot bitcoin ETF in the USA. Once issued, various types of investors will have access to cryptocurrencies through the stock market, which is expected to create another wave of enthusiasm.

Mining companies have seen even higher gains in bitcoin prices. These companies are affected by the trend in bitcoin prices. For mining companies that have purchased sufficient computing power, 2023 is considered the golden period for bitcoin mining.

Marathon Patent Group has historically managed intellectual property assets to achieve licensing agreements or enforce its patent claims in court. This business model has proven to be unprofitable, so the company acquired a smaller cryptocurrency mining company, Global Bit Ventures, in 2017. GBT has mining machines that can mine Ethereum. Today, the company operates two bitcoin mining centers in Montana and North Dakota.

From a financial performance perspective, the company has shown strong results. Their revenue reached a record-breaking $64.1 million in the third quarter. This success can be attributed to their focus on increasing production capacity and optimizing mining operations, leading to extended operating hours and record-breaking bitcoin production. MARA also highlights its ample liquidity and exploration of strategic opportunities. They plan to continue improving their hash rate and become one of the largest and most efficient bitcoin mining operations.