As Bitcoin broke through the critical $28,000 mark, a new ro...

As Bitcoin broke through the critical $28,000 mark, a new round of bull market was ignited. As of December 19, Bitcoin's annual growth was as high as 160%. There are two main reasons driving the rise in cryptocurrencies: the market's expectation that the US will cut interest rates and the US is about to approve a spot Bitcoin ETF. Once released, investors of all types will be exposed to cryptocurrencies through the stock market, which is expected to set off another wave of popularity.

Bitcoin's increase was higher among miners, and these companies were affected by Bitcoin's price movements. For mining companies that have purchased sufficient computing power, 2023 is a golden period for Bitcoin mining.

Marathon Patent Group (Marathon Patent Group) used to manage intellectual property assets for the purpose of entering into licensing agreements or enforcing its patent claims in court. This business model ultimately proved unprofitable, so in 2017, the company acquired Global Bit Ventures, a smaller cryptocurrency mining company, and GBT has mining machines to mine Ether. Today, the company operates two Bitcoin mining centers in Montana and North Dakota.

In terms of financial results, the company performed strongly. Their revenue reached a record $64.1 million in the third quarter. This success was due to a focus on increasing production capacity and optimizing mining operations, which led to increased uptime and record Bitcoin production. MARA also emphasized its sufficient liquidity and exploration of strategic opportunities. They plan to continue increasing the hash rate and become one of the largest and most efficient Bitcoin mining operations.