Marathon Patent Group

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Marathon Patent Group
Marathon logo.png
Founded 2012
Headquarters Las Vegas, Nevada
Key People Merrick Okamoto, Executive Chairman and CEO; Jim Crawford, COO; Simeon Salzman, CFO
Products Cryptocurrency mining
Twitter @MarathonPatent
StockTwits MARA
LinkedIn Profile
Website Homepage
Releases Company News

Marathon Patent Group is a bitcoin focused mining and investing company. After it eliminated its long-term debt in the first quarter of 2020, starting in August Marathon acquired 31,500 S19 Antminers from Bitmain, the leading bitcoin ASIC mining equipment manufacturer, [1] then announced on December 28, 2020 that it had placed an order for 70,000 additional Antminers.[2]

Marathon revealed in October 2020 that it had formed a "joint venture" with Beowulf Energy to provide electricity to Marathon's new Hardin, Montana, data center on a long term basis. At a per kilowatt hour price of $0.028, the companies claimed that it was the lowest price of energy for a bitcoin mining operation in North America.[3]

Marathon earlier signed a five-year lease for space with a Quebec, Canada, data center. The contract expires on November 30, 2022.[4]

According to the company, its agreements with Beowulf Energy and Bitmain lock in low production costs for its bitcoin mining. It said in October 2020 its then current costs for producing one bitcoin were about $4,109.[5]

A month after announcing its deal with Bitmain and less than a week after raising $250 million in a direct share offering, Marathon Patent bought $150 million worth of bitcoin.[6]

Marathon Patent Group trades on Nasdaq under the symbol MARA.[7]


Marathon Patent Group was formed in 2012 from the combination of American Strategic Minerals Corporation and Sampo IP LLC. Verve Ventures, an English company, had registered its securities for public distribution and trading in the U.S. in 2011 and renamed itself American Strategic Minerals Corporation shortly thereafter.[8]

The new company, Marathon Patent Group, focused on patents, saying at its foundation that it would be "engaged in the acquisition, development and monetization of intellectual property through both the prosecution and licensing of its own patent portfolio, the acquisition of additional intellectual property, or partnering with others to defend and enforce their patent rights."[9]

In 2017 Marathon changed direction to mine bitcoin, whose price was rising sharply at the time. It was not particularly successful until it began deploying new Antminers in August 2020.[10]

Key People[edit]

  • Merrick Okamoto, Executive Chairman and CEO
  • Jim Crawford, COO
  • Simeon Salzman, CFO