Marathon Patent Group Stock Soared Last Month, Can the Uptrend Continue?

Motley Fool2021-04-12

(April 12) Marathon Patent Group rose about 8% in premarket trading.What happenedShares ofMarathon Patent Group(NASDAQ:MARA)gained 59.3% in March 2021,according to data from S&P Global Market ...

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Sebastianng
·2021-04-12
??...
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DZJ1976
·2021-04-12
It's a marathon not a sprint!
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- Beato:
  !!!
  2021-04-12
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The cryptocurrency mining company sawBitcoin(CRYPTO:BTC)prices rise 27% over the same period. Like other mining specialists, Marathon tends to amplify the price trends of their underlying cryptocurrency tokens, and that was the case for Marathon in March.So whatMarathon's March gains weren't all about pure Bitcoin price gains. Near the end of the month, Marathon announced a North American Bitcoin mining pool that aims to distribute mining rewards among its own cryptocurrency mining systems and a larger group of third-party miners. This pool will comply with U.S. cryptocurrency regulations, accepting new miners in June 2021.Marathon's stock rose 10% on this news aloneeven though the Bitcoin market was relatively sleepy that day.Now whatThe company also provided a Bitcoin mining update in early April. The Bitcoin mining capacity more than doubled from January to March. Marathon's total Bitcoin holdings were worth $302 million at the end of March. 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