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 cap would be: $15.07 million. Divided by IMIN's 29.09 million shares outstanding equals a fair value for IMIN of $0.518 per share!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from IMIN of $30,000 cash for an investor relations contract. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.