MARA announcement/catalyst soon:
2020 (note the timing)
12/11/20 - $200M stock offering
12/28/20 - MARATHON PATENT GROUP PURCHASES 70,000 S-19 ASIC MINERS FROM BITMAIN FOR $170 MILLION (17 days later)
2021
11/18/21 - MARATHON DIGITAL HOLDINGS, INC. CLOSES UPSIZED $650.0 MILLION CONVERTIBLE SENIOR NOTES OFFERING
12/6/21 - (today) 18 days later...
- Mara still sitting on over $650M of cash from the above debt offering
- Shortly before the offering was assnounced on the 12th of November Bitmain unveiled their new Antminer S19XP - Bitmain Escalates Bitcoin Mining Arms Race With Most Powerful Hardware In History - Estimated Price of $10.5k a rig, estimated delivery time 7-10 months
- $600M will get MARA about 57,000 S19XP rigs, which would hypothetically increase their YE 2022 hash rate by about 8,000 PH/s, bringing their total 2022 YE hash rate to about 21,360 PH/s [they currently anticipate 13,360 PH/s by Mid 2022]
- 21,360 PH/s is about 12% of the current total global hash rate and almost twice the next highest hash rate that any other publicly traded miner currently has planned for 2022
- TLDR - Huge announcement soon, Mara go moon
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