In the last trading session, the stock price of Marathon Patent Group Inc (NASDAQ:MARA) declined 0.28% to close the day at $3.50. The decline came at a share volume of 733,099 compared to average share volume of 3.93 million. Post the recent decline, the market cap of firm was noted at $43.8 million.
A growing number of firms in the blockchain scope have increasingly become emphasized on ways to advance the technology for a growing and long list of other purposes in private segment. These begin with e-commerce, energy, digital media, pharmaceuticals, financial services, transportation, mobile gaming and cybersecurity. As per a report issued by Research and Markets, the blockchain industry is expected to surge to USD$7,683.7 million by 2022 from USD$411.5 Million in 2017, at a CAGR of 79.6%.
The demand for blockchain, cryptocurrencies market cap, initial coin offerings, growing demand for simplified business procedures, transparency and immutability, lowered total cost of ownership, Blockchain-as-a-Service and rising faster transactions are said to support the growth of this industry. Marathon Patent is among the active firms in the market.
More recently, Marathon Patent reported that it has finalized a purchase agreement to buy four patents linked to the exchange and transmission of cryptocurrencies between sellers and buyers. Merrick Okamoto, the Interim CEO of Marathon, reported that provided their proficiency in acquiring and identifying vital intellectual property, they consider that these patents afford them an innovative position, in addition to supplementing their initiatives as they move into the cryptocurrency and digital asset business.
As with any emerging and new technology the firm’s efforts to move into businesses comprising digital asset mining, cryptocurrency patent licensing and regulation is subject to considerable risk and they may not be positive. In November, Marathon reported that it has finalized a definitive purchase deal to acquire 100% stake of Global Bit Ventures Inc.