Why Marathon Patent's Stock Is Trading Higher Today

Marathon Patent MARA shares are trading higher on Friday.

The company announced it has entered into a long-term purchase contract with Bitmain for the purchase of 10,500 next-generation Antminer S-19 Pro ASIC Miners.

Marathon Patent Group focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets. The company operates in the Digital Currency Blockchain segment and its crypto-currency machines are located in Canada.

Marathon Patent shares were trading up 7.32% at $3.81 on Friday at the time of publication. The stock has a 52-week high of $5.25 and a 52-week low of 35 cents.