Bitcoin just hit $8,260 and is now up by 7% over the last 24 hours!
Take a look at the NASDAQ Bitcoin miner Marathon Patent (MARA). MARA is now a pure Bitcoin mining play and is up by 32.2% today to $1.56 per share. It has 20.58 million shares outstanding for a current market cap of US$32.1 million or CAD$42.19 million.
MARA is a slightly larger version of NIA’s iMining Blockchain and Cryptocurrency (TSXV: IMIN). The only major difference is MARA owns/operates 1,400 Bitcoin S9 Antminers vs. IMIN’s 500 Bitcoin S9 Antminers.
IMIN’s 500 Bitcoin S9 Antminers currently in operation are equal to 35.714% of MARA’s 1,400 Bitcoin S9 Antminers currently in operation. Therefore, IMIN deserves to immediately be trading with a market cap equal to 35.714% of MARA’s current market cap of CAD$42.19 million.
A market cap for IMIN equal to 35.714% of MARA’s CAD$42.19 million market capwould be: $15.07 million. Divided by IMIN’s 29.09 million shares outstanding equals a fair value for IMIN of $0.518 per share!