Marathon Patent Group Provides One-Year Grant to World-Renowned Bitcoin Core Developer Jonas Schnelli
January 28 2021 - 8:30AM
Marathon Patent Group, Inc. (NASDAQ:
MARA)
("Marathon" or "Company"), one of the largest enterprise Bitcoin
self-mining companies in North America, today announced that it has
provided a one-year grant to world-renowned bitcoin core developer
Jonas Schnelli.
Marathon’s grant follows Coinbase’s recent decision to help
contribute to the development of Bitcoin Core by offering
grants to two developers: Joao Barbosa and an anonymous developer
known only as 0xB10C. Both Barbosa and Schnelli had been receiving
funding from crypto mining giant, Bitmain. However, in late 2020,
Bitmain decided to stop providing its support, at which point
Coinbase and Marathon Patent Group independently decided to step in
and offer alternative sources of funding with their respective
developer grants.
Merrick Okamoto, Marathon’s chairman and CEO, stated, “As one of
the largest Bitcoin mining firms, we believe it is essential that
we do our part to help advance the Bitcoin network. Absent core
developers like Jonas, Bitcoin’s efficacy and long-term adoption,
and therefore our business, could be impacted. This grant will
allow Jonas to continue his important work on our collective
behalf.”
Investor Notice
Investing in our securities involves a high degree of risk.
Before making an investment decision, you should carefully consider
the risks, uncertainties and forward-looking statements described
under "Risk Factors" in Item 1A of our most recent Annual Report on
Form 10-K for the fiscal year ended December 31, 2019. If any of
these risks were to occur, our business, financial condition or
results of operations would likely suffer. In that event, the value
of our securities could decline, and you could lose part or all of
your investment. The risks and uncertainties we describe are not
the only ones facing us. Additional risks not presently known to us
or that we currently deem immaterial may also impair our business
operations. In addition, our past financial performance may not be
a reliable indicator of future performance, and historical trends
should not be used to anticipate results in the future. Future
changes in the network-wide mining difficulty rate or Bitcoin
hashrate may also materially affect the future performance of
Marathon's production of Bitcoin. See "Safe Harbor" below.
Forward-Looking Statements
Statements made in this press release include forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934. Forward-looking statements can be identified by the use of
words such as “may,” “will,” “plan,” “should,” “expect,”
“anticipate,” “estimate,” “continue,” or comparable terminology.
Such forward-looking statements are inherently subject to certain
risks, trends and uncertainties, many of which the Company cannot
predict with accuracy and some of which the Company might not even
anticipate and involve factors that may cause actual results to
differ materially from those projected or suggested. Readers are
cautioned not to place undue reliance on these forward-looking
statements and are advised to consider the factors listed above
together with the additional factors under the heading “Risk
Factors” in the Company's Annual Reports on Form 10-K, as may be
supplemented or amended by the Company's Quarterly Reports on Form
10-Q. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events, new information or otherwise.
About Marathon Patent Group
Marathon is a digital asset technology company that mines
cryptocurrencies, with a focus on the blockchain ecosystem and the
generation of digital assets.
Marathon Patent
Group Company Contact:Jason AssadTelephone:
678-570-6791Email: Jason@marathonpg.com
Marathon Patent Group Investor
Contact:Gateway Investor RelationsMatt Glover and Charlie
SchumacherTelephone:
949-574-3860Email: MARA@gatewayir.com
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