Why are Marathon Patent Company, Inc. (NASDAQ: MARA) shares peaking in the pre-market?

Marathon Patent Company, Inc. (NASDAQ: MARA) shares jumped in the early morning session as it goes up 12.42% to $5.36 after the company recently signed a 10,000 Antminer S-19j Pro ASIC Miners acquisition deal with Bitmain.

Marathon will receive an initial set of 6,000 S-19j Pro Miners in August 2021, under the terms of the settlement. In September 2021, the remaining 4000 miners will be delivered.

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Once all of the acquired miners from Marathon are shipped and fully installed, the mining inventory of the Company will comprise 33,560 state-of-the-art ASIC miners, producing 3.56 EH/s. As a result, roughly 100 MWs of electricity will be used by the company, the highest amount available at the data center of the company in Hardin, MT.

The organization is partnering with its energy affiliate, Beowulf Energy, to open a clean energy data center in the northeastern United States to begin enhancing its operations. Originally, this plant would have an extra 100 MW of power for the Marathon and has the capacity to expand to 250 MW of power.

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