Marathon Digital Holdings, Inc
(NASDAQ:MARA)

Marathon Digital Holdings, Inc. operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. The company was formerly known as Marathon Patent Group, Inc. and changed its name to Marathon Di...

Website: http://www.marathonpg.com

Founded: 2010

Full Time Employees: 3

Sector: Financial Services

Industry: Capital Markets

Blockchain

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At a glance:

Revenue and Earnings Highly Sensitive to Bitcoin Price and Network Conditions: Financial performance is closely tied to Bitcoin’s market price, transaction fees, and overall network difficulty, which can drive significant quarter-to-quarter volatility.
Hashrate Expansion and Operational Execution Are Core Drivers: Growth depends on deploying and operating mining capacity efficiently; delays in miner deliveries, site build-outs, or uptime issues can materially impact output and unit economics.
Energy Costs and Power Availability Remain Key Profitability Levers: Electricity pricing, curtailment arrangements, and access to reliable, low-cost power significantly influence mining margins, especially during periods of rising difficulty or lower BTC prices.
Balance Sheet and Liquidity Influenced by Capital Intensity and BTC Treasury Strategy: The business is capital-intensive, and liquidity can shift based on financing activities, capex for miners/infrastructure, and decisions to hold or sell mined Bitcoin.
Regulatory and Policy Risk Could Affect Operations and Costs: Evolving regulations around digital assets, energy usage, and mining-related disclosures may impact permitting, taxation, operating costs, and long-term expansion plans.

Bull Thesis:

Strategic Bitcoin Holdings & Price Appreciation Leverage: Marathon Digital holds a significant treasury of Bitcoin, allowing it to directly benefit from any appreciation in Bitcoin's price. This strategy provides substantial leverage to the underlying asset, enhancing the value of its balance sheet and future liquidity.
Aggressive Hash Rate Expansion & Operational Efficiency: MARA continues to expand its operational hash rate through strategic acquisitions and deployments of new, more efficient miners. This growth in mining capacity, coupled with efforts to optimize energy costs and uptime, positions the company to capture a larger share of block rewards and improve profitability per Bitcoin mined.
Strong Balance Sheet & Financial Flexibility: Compared to many peers, Marathon has maintained a relatively strong balance sheet with substantial Bitcoin holdings and manageable debt. This financial flexibility allows the company to navigate market downturns, fund future growth initiatives, and potentially pursue opportunistic acquisitions without excessive reliance on dilutive equity raises.

Bear Thesis:

Post-Halving Profitability Pressure: The recent Bitcoin halving event cut block rewards in half, significantly impacting the revenue per block mined. Unless Bitcoin's price rises proportionally or MARA drastically reduces its mining costs, the company faces considerable pressure on its gross margins and overall profitability, potentially leading to reduced cash flow.
Bitcoin Price Volatility & Macro Headwinds: As a pure-play Bitcoin miner, MARA's financial performance is highly correlated with Bitcoin's price. Significant downturns or prolonged periods of stagnation in Bitcoin's value, driven by macro-economic factors or regulatory concerns, would directly and negatively impact MARA's revenue, treasury value, and stock price.
Rising Network Difficulty & Energy Cost Volatility: The increasing global Bitcoin hash rate leads to higher network difficulty, meaning MARA must deploy more computing power to mine the same amount of Bitcoin. Coupled with volatile energy prices, especially in regions with less stable grids or higher regulatory scrutiny, this can compress profit margins and necessitate continuous, costly capital expenditures.
Potential for Shareholder Dilution: To fund its aggressive hash rate expansion and cover operational costs, Bitcoin miners, including MARA, frequently resort to 'at-the-market' (ATM) equity offerings. While necessary for growth, continuous share issuance can dilute existing shareholders, putting downward pressure on the stock price and per-share metrics.

Main Competitors:

Riot Platforms, Inc. ($RIOT) (Bitcoin Mining Operations), Riot Platforms is a direct and major competitor, operating large-scale Bitcoin mining facilities primarily in North America. They compete with Marathon for hash rate share, access to efficient and low-cost energy sources, acquisition of advanced mining hardware, and investor capital. Both companies aim to maximize Bitcoin production through strategic miner deployment and operational efficiency.
CleanSpark Inc. ($CLSK) (Bitcoin Mining Operations), CleanSpark is another significant publicly traded Bitcoin miner, known for its rapid expansion and focus on sustainable energy sources. They compete with Marathon for market share in Bitcoin production, securing favorable power purchase agreements, and the ability to acquire and deploy the latest generation of mining hardware at scale.
Hut 8 Corp. ($HUT) (Bitcoin Mining Operations, High-Performance Computing (HPC)), Hut 8 is a major North American Bitcoin miner, which significantly expanded its operations through a recent merger. They compete with Marathon in terms of total hash rate, operational efficiency, and the ability to secure and deploy large-scale mining infrastructure. Hut 8 also diversifies its revenue streams with a growing high-performance computing segment.
Cipher Mining Inc. ($CIFR) (Bitcoin Mining Operations), Cipher Mining is a rapidly growing US-based Bitcoin miner focused on developing and operating highly efficient mining facilities. They compete with Marathon for hash rate growth, access to competitive energy rates, and the ability to scale operations effectively in a dynamic and capital-intensive market.

Moat:

Marathon Digital Holdings operates in the highly competitive and capital-intensive Bitcoin mining industry. Its primary competitive advantages (moat) are derived from its scale of operations, access to capital for continuous expansion, strategic power agreements that secure low-cost energy, and operational efficiency in managing its vast mining fleet. However, the industry is characterized by relatively low barriers to entry for smaller players and intense competition among large-scale miners for hash rate dominance, cheap energy, and the latest generation ASIC hardware. Profitability is heavily influenced by the volatile price of Bitcoin and the ever-increasing network difficulty, making it challenging to maintain a sustainable competitive advantage solely through mining operations. Competitors like Riot, CleanSpark, Hut 8, and Cipher Mining directly vie for the same resources and market share, constantly pushing for greater efficiency and scale.

Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-04-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-04-30	2012-03-31	2011-10-31

revenues	174,614,000	202,314,000	252,410,000	238,485,000	213,884,000																														368,800	78,137		43,113	34,349,762	2,059,676		6,407,997			1,344,497	13,455,472	3,824,500		558,869.75	710,500	1,524,979
costs and operating expenses
purchased energy costs	44,732,000	50,750,000	43,080,000	41,730,000	43,481,000
operating and maintenance costs	30,632,000	27,518,000	26,310,000	22,362,000	19,794,000
third-party hosting and other energy costs	70,048,000	79,367,000	75,664,000	69,029,000
general and administrative	86,857,000	85,832,000	85,296,000	92,948,000	85,865,000											1,389,388	833,379	797,574	278,860	307,191	240,369	112,800	89,566	108,937	106,464	115,247	128,829	115,243	161,578	89,859	558,894	563,716			142,281	247,652		183,771	223,130	217,010		177,494	130,521	219,481	165,075	166,216	130,521	66,459	229,078	108,278	122,976	84,006	84,006	39,451	80,255	68,069		124,469
depreciation and amortization	191,556,000	285,818,000	167,312,000	161,741,000	157,897,000	-136,767,000	-101,136,000	-87,808,000	-77,995,000
change in fair value of digital assets	714,677,000	990,732,000	-234,240,000	-846,027,000	394,162,000	442,918,000	30,088,000	-147,999,000
change in fair value of derivative instrument	41,045,000	2,345,000	4,422,000	-20,311,000	-26,828,000	33,192,000	-58,234,000
taxes other than on income	2,430,000	1,282,000	2,354,000	2,437,000	3,095,000
research and development	8,248,000	3,557,000	8,716,000	8,546,000	9,298,000	-4,105,000	-2,813,000	-3,845,000	-2,466,000
restructuring costs	45,885,000	2,891,000	20,905,000
total costs and operating expenses	1,236,110,000	1,612,869,000	204,819,000	-441,292,000	754,947,000
operating income	-1,061,496,000	-1,410,555,000	47,591,000	679,777,000	-541,063,000	341,027,000	-172,223,000	-232,397,000	369,704,000	256,641,000	-15,633,000	-16,238,000	-3,858,000	192,469,970	-46,645,684	-9,126,268				-47,055,414	-4,955,872	-1,994,197	-1,791,233	-1,091,802	-1,705,746	-807,859	-740,597	-984,909	-4,415,258	-1,495,041	-4,390,198	-1,858,132				-2,809,688		-10,739,792	14,009,790	-4,916,019		-3,085,406	-315,727	-6,299,470
yoy	96.19%	-513.62%	-127.63%	-392.51%	-246.35%	32.88%	1001.66%	1331.19%	-9682.79%	33.34%	-66.49%	77.93%				-80.61%				4209.89%	190.54%	146.85%	141.86%	10.85%	-61.37%	-45.96%	-83.13%	-46.99%				-33.87%				-42.85%		248.08%	-4537.31%	-21.96%
qoq	-24.75%	-3063.91%	-93.00%	-225.64%	-258.66%	-298.01%	-25.89%	-162.86%	44.05%	-1741.66%	-3.73%	320.89%	-102.00%	-512.62%	411.11%					849.49%	148.51%	11.33%	64.06%	-35.99%	111.14%	9.08%	-24.81%	-77.69%	195.33%	-65.95%	136.27%							-176.66%	-384.98%			877.24%	-94.99%
operating margin %	-Infinity%	-Infinity%	Infinity%	Infinity%	-Infinity%	159.07%	-130.82%	-160.12%	223.79%	163.71%	-15.98%	-19.86%	-7.55%	-240.06%	-367.57%	-17.65%	0%	0%	0%	-514.11%	-187.47%	-238.77%	-625.95%	-184.27%	-615.68%	-251.11%	-208.17%	-426.93%	-1495.53%	-441.44%	-637.64%	-774.33%	NaN%	NaN%	NaN%	-Infinity%	NaN%	-Infinity%	Infinity%	-Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
other loss
change in fair value of digital assets - receivable	-303,912,000	-460,381,000	108,859,000	346,547,000	-116,067,000
net gain from extinguishment of debt	70,557,000										82,600,000
interest income	10,532,000	16,540,000	17,689,000	9,631,000	11,995,000	8,056,000	3,894,000	2,188,000								228,693	267,754	84,454	141,379	183,828	13,498	2,466	499	1,880	2,849	8,428	10,358	12,016	11,677	2,553					621	1,241		931	931	931		135	266	2	2	138	266	291	438	474	349	291	291	-1,952	2,757	173
interest expense	-10,720,000	-12,845,000	-12,760,000	-12,835,000	-9,941,000	-8,029,000	-2,342,000	-1,369,000	-1,256,000	-1,214,000	-2,536,000	-2,840,000	-3,760,000	10,313,659	-3,752,301	-2,814,036	-1,567,037	-287	-1,203	-1,203			-7,549	-13,435	-14,552	-12,591	-12,455	-12,317	-12,591	-19,446	-9,151	-40,295			-564,680	-568,819			-844,407	-1,006,850		-1,078,615	-20	-931,541	-543,263		-20	-230	-373	-243	-229	-230	-230
equity in net earnings of unconsolidated affiliate	-2,171,000	-2,073,000	-1,711,000	-902,000	-13,000	-680,000	-2,133,000	49,000		30,000	-647,000
other	3,881,000	-24,889,000	1,144,000	-5,509,000	2,474,000
total other loss	-231,833,000
income before income taxes	-1,293,329,000	-1,893,174,000	160,812,000	1,016,709,000	-652,615,000	646,545,000	-173,950,000	-231,316,000	375,224,000	239,479,000	64,210,000	-18,930,000	-7,160,000	363,579,350	-81,172,679	-17,255,653	34,546,660	-22,172,567	-108,884,620		-5,234,227	-1,994,417	-2,161,196	-1,057,931					-4,325,268	-1,340,457	-4,676,645
income tax benefit	30,932,000	183,386,000	-37,678,000	-208,504,000	119,172,000	-118,262,000	49,161,000	31,657,000		-16,075,000	-73,000		-75,000	-193,712	5,750,272	4,297,064																							-5,345,983	2,025,048		483,815		2,488,839	3,431,828	1,481,404
net income	-1,262,397,000	-1,709,788,000	123,134,000	808,205,000	-533,443,000	528,283,000	-124,789,000	-199,659,000	337,173,000	223,404,000	64,137,000	-19,133,000	-7,235,000	363,385,638	-75,422,407	-12,958,589	11,525,939	-22,172,567	-108,884,620	83,356,742	-5,234,227	-1,994,417	-2,161,196	-1,057,931	-1,151,916	-754,407	-565,880	-1,044,862	-2,104,980.5	-1,340,457	-4,676,645	-2,402,820			-2,285,442	-3,677,282		-6,298,605	7,902,557	-3,893,413		-3,750,468	-318,251		-4,805,865	3,522,604	-318,251	-605,536	-1,098,980	-935,320	-810,499	-605,536	-605,536	-488,539	-1,903,290	-1,586,600		-2,959,879
yoy	136.65%	-423.65%	-198.67%	-504.79%	-258.21%	136.47%	-294.57%	943.53%	-4760.30%	-38.52%	-185.04%	47.65%	-162.77%	-1738.90%	-30.73%	-115.55%	-320.20%	1011.73%	4938.16%	-7979.22%	354.39%	164.37%	281.92%	1.25%	-45.28%	-43.72%	-87.90%	-56.52%			104.63%	-34.66%			-128.92%	-5.55%		67.94%	-2583.12%			-206.47%	0.00%		337.30%	-476.62%	-60.73%	0.00%	81.49%	91.45%	-57.42%	-61.83%		-83.49%
qoq	-26.17%	-1488.56%	-84.76%	-251.51%	-200.98%	-523.34%	-37.50%	-159.22%	50.93%	248.32%	-435.22%	164.45%	-101.99%	-581.80%	482.03%	-212.43%	-151.98%	-79.64%	-230.62%	-1692.53%	162.44%	-7.72%	104.29%	-8.16%	52.69%	33.32%	-45.84%	-50.36%	57.03%	-71.34%	94.63%				-37.85%			-179.70%	-302.97%			1078.46%			-236.43%	-1206.86%	-47.44%	-44.90%	17.50%	15.40%	33.85%	0.00%	23.95%	-74.33%	19.96%
net income margin %	-Infinity%	-Infinity%	Infinity%	Infinity%	-Infinity%	246.41%	-94.79%	-137.56%	204.10%	142.51%	65.55%	-23.40%	-14.15%	-453.23%	-594.32%	-25.06%	19.12%	-42.88%	-371.34%	910.72%	-198.00%	-238.80%	-755.24%	-178.56%	-415.78%	-234.49%	-159.06%	-452.92%	-712.99%	-395.80%	-679.25%	-1001.31%	NaN%	NaN%	-Infinity%	-Infinity%	NaN%	-Infinity%	Infinity%	-Infinity%	NaN%	-Infinity%	-Infinity%	NaN%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	-Infinity%
less: net loss attributable to noncontrolling interests, including redeemable noncontrolling interest	2,778,000
net loss attributable to common stockholders	-1,259,619,000											-21,254,000																	-4,394,402	-1,340,457	-4,676,645	-2,402,820
net income per share	-3.31	-4.82	0.33	2.29	-1.55	1.82	-0.42	-0.72	1.3				-0.05	3.44	-0.65	-0.13	0.13	-0.22	-1.09	0.88	0.15	-0.06	-0.13	-0.12	-0.16	-0.12	-0.09	-0.16	-0.18	-0.06	-0.23	-0.16
weighted-average shares of common stock - basic and diluted	380,157,050
impairment of assets		6,563,250		26,253,000
early termination expenses			5,000,000				-10,304,000	-5,660,000	-22,097,000
other income																-2,400	19,327		64,484	-1,470	-915	7,983		106,408	45,298.75	300	190,332	-9,437	3,801	125,125	-18,909	2,454			913,357	-14,825			-17,745	-2,159		6,646	-2,770		1,046.75	4,187	-2,770											125,000
total other income		-482,619,000	113,221,000	336,932,000	-111,552,000																			33,871	553,830	53,452	174,717								660,512			1,093,278	-761,250	-1,002,442			-2,524	-970,941	1,576,826	-2,165,157	-2,524	61	65	-38,588	120	61	61	-114,605	2,757	173		125,000
less: net loss attributable to noncontrolling interest		144,000	-6,000	30,000	244,000
net income attributable to common stockholders		-1,709,644,000	123,128,000	808,235,000	-533,199,000	528,528,000	-124,789,000	-199,659,000		223,404,000	64,137,000
weighted-average shares of common stock - basic		355,167,578	372,073,173	352,901,683	344,098,009	289,961,989	294,942,685	278,674,506	259,098,664	183,855,570
weighted-average shares of common stock - diluted		355,167,578	470,126,290	440,912,159	344,098,009	311,841,347	294,942,685	278,674,506	267,912,443	192,293,277
third party hosting and other energy costs					68,183,000
total revenues						214,394,000	131,647,000	145,139,000	165,198,000	156,768,000	97,849,000	81,759,000	51,132,000	-80,176,986	12,690,452	51,717,718	60,281,615	51,707,483	29,321,857	9,152,815	2,643,611	835,184	286,161	592,487	277,052	321,716	355,765	230,694	295,231	338,672	688,502	239,967
yoy						36.76%	34.54%	77.52%	223.08%	-295.53%	671.04%	58.09%	-15.18%	-255.06%	-56.72%	465.05%	2180.28%	6091.15%	10146.63%	1444.81%	854.19%	159.60%	-19.56%	156.83%	-6.16%	-5.01%	-48.33%	-3.86%
qoq						62.86%	-9.30%	-12.14%	5.38%	60.21%	19.68%	59.90%	-163.77%	-731.79%	-75.46%	-14.21%	16.58%	76.34%	220.36%	246.22%	216.53%	191.86%	-51.70%	113.85%	-13.88%	-9.57%	54.22%	-21.86%	-12.83%	-50.81%	186.92%
costs and expenses
cost of revenues																																			1,024,078	451,762		1,094,378	15,467,763	2,639,976		4,002,040	1,753,833	4,328,165	3,338,491	5,584,542	1,753,833		171,909.5	403,013	760,305
mining and hosting services						-130,420,000	-97,527,000	-93,887,000	-90,211,000
total cost of revenues						-267,187,000	-198,663,000	-181,695,000	-168,206,000	-146,068,000	-113,176,000	-92,497,000	-51,110,000
operating expenses
general and administrative expenses						-77,924,000	-63,725,000	-57,118,000	-73,311,000	-39,253,000	-20,141,000	-20,491,000	-15,344,000	-13,952,902	-12,352,008
amortization of intangible assets						-261,000	-219,000	-19,470,000	-2,969,000
total operating expenses						393,820,000	-105,207,000	-195,841,000	372,712,000	245,941,000	-306,000	-5,500,000	-3,880,000	167,197,368	-19,268,739		38,652,296	115,991,238	24,700,251	56,208,229	7,599,483	2,829,381	2,077,394	1,684,289	1,982,798	1,129,575	1,096,362	1,215,603	4,710,489	1,833,713	5,078,700	2,098,099			3,297,512			10,782,905	20,339,972			9,493,403	4,140,227	10,393,339	19,607,970	3,664,573	2,386,394	714,377	2,969,575	1,349,426	1,584,766	714,377	714,377	390,109	1,809,126	284,153		3,084,879
gain on investments							-1,000,000		5,236,000
loss on hedge instruments						1,712,000			-2,292,000
other non-operating income						-8,458,000	-146,000	213,000	2,573,000	1,443,000	426,000	148,000	791,000	-2,040,132	238,159
series a preferred stock accretion to redemption value
change in fair value of derivative								38,251,000	-15,252,000
net loss from extinguishment of debt
gains on digital assets									488,807,000
equity in net income of unconsolidated affiliate									1,259,000
income tax expense									-38,051,000			-203,000																							-17,242
cost of revenues - energy, hosting and other										-75,111,000	-59,628,000	-55,222,000	-33,377,000	41,306,265	-13,772,555
cost of revenues - depreciation and amortization										-70,957,000	-53,548,000	-37,275,000	-17,733,000	64,143,323	-26,294,842
impairment of digital assets										-6,599,750	-11,885,000	-8,363,000	-6,151,000
gains on digital assets and gains on digital assets loan receivable										18,172,250	31,720,000
losses on digital assets held within investment fund
gain on sale of equipment, net of disposals														22,528,956	31,934,307
legal reserves														-6,240,000	-24,960,000
impairment of deposits due to vendor bankruptcy filing														-1,996,786.75	-7,987,147
impairment of patents														-229,840.75		919,363
impairment of loan and investment due to vendor bankruptcy filing														-7,753,213.25	-31,012,853
net income attributable to common stockholders per common stock - basic										52.5	360
weighted-average common stock outstanding - basic											179,602,722,000
net income attributable to common stockholders per common stock - diluted										52.5	350
weighted-average common stock outstanding - diluted											189,506,521,000
gains on digital assets and losses on digital assets loan receivable												23,354,000
loss from extinguishment of debt													-333,000
add: series a preferred stock accretion to redemption value												-2,121,000
net loss attributable to common stockholders per common stock - basic and diluted												-130
weighted-average common stock outstanding - basic and diluted												168,474,882,000
realized gains on digital assets and unrealized gains on digital assets loan receivable													17,615,000
realized and unrealized gains on digital assets held within investment fund
weighted-average shares outstanding, basic and diluted:													159,186,506				99,337,587	100,803,809	99,466,946		81,408,340	31,520,736	16,291,610			6,372,061	6,350,080	6,338,418		24,321,788	20,037,189	15,222,735	6,522,649
total costs and expenses														-26,963,897	-40,067,397
impairment of digital currencies														-38,261,344	-5,903,891
realized and unrealized gains on digital currencies held in fund														-21,254,052
weighted average shares outstanding, basic and diluted:															116,533,816									8,655,525	6,664,238				21,263,774
digital currency mining																51,717,718
cost of revenue																26,393,636	14,032,845	10,263,009	6,993,834	2,406,415	3,471,358	1,636,046	740,483	1,153,241	996,142	478,811	498,588	508,640	1,019,849	1,132,570	931,630	267,709
operating and administrative expenses
compensation and related taxes																10,342,967	10,615,657	97,181,544	4,082,767	52,405,786	2,821,402	614,604	1,060,480	233,657	250,550	409,609	328,604	486,687	1,180,992	137,338	252,853	413,118			760,542	1,085,546		1,252,571	1,120,924	1,033,346		903,685	712,131	1,581,074	1,638,179	824,165	712,131	426,675	1,058,239	470,786	1,041,353	426,675	426,675	197,280	1,556,790	81,449		840,943
professional fees																2,247,378	1,936,757	857,921	2,160,775	313,032	218,179	206,368	162,552	146,642	135,053	91,908	110,341	85,033	59,574	126,446	226,514	804,286			645,144	425,686		432,496	498,212	405,493		882,213	268,616	769,615	632,624	408,280	268,616	158,472	90,605	116,373	289,752	158,472	158,472	60,301	79,608	107,464		262,739
impairment of mined digital currency																19,551,254
total operating and administrative expenses																34,450,350
change in fair value of investment fund																-5,541,642
change in fair value of warrant liability																	-821,061	168,666	1,196,004	-1,591,895	-290,937	-21,875	-6,563	9,787	33,987	68,551	-38,570	-37,734	106,041	45,595	94,629	1,453,257
total other (expenses) income																-5,315,349	12,917,341	42,111,188	-113,506,226	130,412,156	-278,355	-220	-369,963
weighted-average shares outstanding, basic:														94,350,216		103,102,596				94,350,216
weighted-average shares outstanding, diluted:														96,251,240		103,102,596				96,251,240
cryptocurrency mining revenue																	60,281,615	51,707,483	29,321,857	9,152,815	2,643,611	835,184	286,161	592,487	277,052	321,716	355,765	230,694	295,231	338,672	661,917	199,582
operating costs and expenses
consulting fees																	153,417	159,300	105,355	113,606	-23,127	259,563	24,313	41,812	46,813	34,000	30,000	20,000	65,808	347,500	187,583	38,203			85,580	-28,779		257,420	364,836	280,776		643,702	336,447	896,543	584,517	785,601	336,447	45,224	456,765	269,012	130,685	45,224	45,224	93,077	92,473	27,171		1,829,423
impairment of mined cryptocurrency																	11,080,241	6,731,890	11,078,660
income from operations																	21,629,319	-64,283,755	4,621,606																																							-3,084,879
loss on conversion of note																					-1		-364,832
change in fair value of investment in nydig fund																	15,013,271	41,850,203	-114,907,879	131,822,950
realized gain on sale of digital currencies																	5,087	8,152	989	-54		11,206	8,482						-18,383.25	8,760
change in fair value of mining payable																								-66,547
impairment of cryptocurrencies																				662,199
income (loss) before income taxes																				83,356,742
foreign exchange loss																									-2,968.25			-11,873				-15,332
other comprehensive income:
unrealized gain on foreign currency translation																																15			126,062	1,083
comprehensive loss attributable to marathon patent group, inc.																					-1,303,386	-1,994,417			-1,151,916	-754,407	-565,880	-1,044,862	-4,394,402	-1,340,457	-4,676,645	-2,402,805			-1,990,080	-3,534,927
realized loss on sale of digital currencies																								-4,222				-608			3,710	1,510
other revenue																															26,585	40,385
break-up fee - issuance of shares to gbv																															2,850,000
realized income on sale of digital currencies																									3,302	-11,236	25,052
amortization of debt discount																															-345,256	-1,944,772
total other expenses																												-59,953								-867,594						-1,148,877
amortization of patents																																										2,884,269					938,679	17,547	177,848	384,977
patent impairment																																						5,531,383	620,696	373,195
foreign exchange gain																													60,014	-8,003	-7,760				102,913	-85,862		-175,850	-69,201	6,978		-20,090		-39,402
loss on debt extinguishment
loss on sale of company
change in fair value adjustment of clouding ip earn out																																				13,879			169,172	-1,342		597,047
net loss attributable to non-controlling interests																																			84,650
change in fair value of digital currencies																															67,516	9,557
other comprehensive loss:
●
net income attributable to common shareholders																																	-3,121,231	-6,677,485	-2,200,792
denominator
weighted average common shares – basic and diluted																																		6,270,299
earnings (loss) per common share:
earnings (loss) – basic and diluted																																	-0.56	-1.06
expenses
amortization of patents and website																																			639,887	705,958		2,030,886	1,961,411	2,025,899			938,679	2,598,461	2,655,642	1,480,311
goodwill impairment																																							83,000
operating income from operations																																			-2,928,712
warrant income																																			208,301
loss before benefit for income taxes																																			-2,268,200	-3,677,282				-5,918,461
income per common share:
basic																																			-0.1				0.53
fully diluted																																			-0.1				0.49
weighted-average common shares outstanding:
basic																																			22,566,648				14,994,697
comprehensive loss																																			-2,074,730	-3,605,563
less: comprehensive income related to non-controlling interest																																			84,650	70,636
total operarating expenses																																				2,887,825				6,975,695
warrant expense																																				-213,208
net loss attributable to noncontrolling interests																																				70,636			3,722
loss per common share:
basic and fully diluted																																				-0.19		-0.42
weighted-average common shares outstanding:
net loss attributable to common shareholders																																				-3,606,646							-1,589,743	-4,781,571
other expense																																						-37,116							-26,464	-24,994
change in fair value adjustments of clouding ip earn out																																						1,954,378
interest expense.																																						-649,065
loss before benefit from income taxes																																						-9,646,514
benefit from income taxes																																						3,347,909
net loss attributible to noncontrolling interests																																						24,195
net loss attributable to marathon patent group, inc. common shareholders																																						-6,274,410
other comprehensive income
foreign currency translation adjustments																																						209,159	-150,171	247,427		45,628
income before income tax benefit																																							13,248,540
net income attrributable to marathon patent group, inc. common shareholders																																							7,906,279
loss per common share, basic and diluted:																																								-0.26			-0.14	-0.34
weighted-average common shares outstanding - basic and diluted																																								14,967,141	14,208,787			13,868,811	11,660,879				4,604,193	5,227,840				36,238,712	33,875,085		36,238,712
impairment of patent
impairment of goodwill																																													-536,122	-2,144,488
loss on debt exstinguishment																																										-654,000
income before benefit for income taxes																																										-4,234,283
deemed dividends related to beneficial conversion feature of series a convertible preferred stock																																													-317,873
net income available to common shareholders																																										-3,750,468			413,062.5	3,522,604
income per common share, basic:
income																																										-0.26
income per common share, diluted:
weighted-average common shares
outstanding - basic																																										14,376,118			1,399,671.75	5,750,250
outstanding - diluted																																										14,376,118			1,865,813	7,983,227
other comprehensive income, net of tax:
revenue																																											3,824,500	4,093,869
income before provision for income taxes																																											-318,251	-7,270,411
deemed dividends related to beneficial conversion feature of series a preferred stock																																											-1,271,492				-1,271,492
outstanding - basic and diluted																																											11,016,646				5,508,323	3,503,565			4,249,120	45,546,345	45,546,345					32,894,061
gross profit																																													2,902,754.5	7,870,930	2,070,667		386,960.25	307,487	764,674
yoy																																													650.14%	2459.76%	170.79%
qoq																																													-63.12%	280.12%			25.85%	-59.79%
gross margin %	NaN%	NaN%	NaN%	NaN%	NaN%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	Infinity%	Infinity%	Infinity%	NaN%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
operating income from continuing operations																																													901,947.75	4,206,357						-714,377
realized loss - available for sale																																																	-9,704.75	-38,819
income from continuing operations before benefit for income taxes																																													360,584.5	2,041,200
income from continuing operations																																													730,935.5	3,522,604						-714,316
discontinued operations:
income from discontinued operations, net of tax																																																108,780		145,207	9,473
income from discontinued operations
operating loss from continuing operations																																															-315,727	-714,377	-1,099,045	-1,041,939	-820,092		-714,377	-390,109	-1,809,126	-284,153
loss from continuing operations before provision for income taxes																																															-318,251	-714,316	-1,098,980	-1,080,527	-819,972		-714,316	-504,714	-1,806,369	-283,980
provision for income taxes
loss from continuing operations																																															-318,251	-714,316	-1,098,980	-1,080,527	-819,972		-714,316	-504,714	-1,806,369	-283,980
net loss available to common shareholders																																															-1,589,743
loss available to common shareholders per common share, basic and diluted:
loss from discontinued operations																																																0.03		0.03						-0.03
see accompanying notes to unaudited consolidated financial statements.
less: net loss attributable to non-controlling interest																																																							10,395	101
net loss attributable to marathon patent group, inc.																																																	-1,098,980	-935,320	-810,499		-605,536
realized loss other than temporary decline - available for sale
income from continuing operations before benefit from income taxes																																																				-714,316
gain from discontinued operations, net of tax																																																				108,780	108,780
less: net income attributable to non-controlling interest
net income attributable to marathon patent group, inc.																																																				-605,536
loss from discontinued operations, net of tax																																																						16,175	-96,921	-1,302,620
net loss attributable to american strategic minerals corporation																																																						-1,609,818.25	-1,892,895	-1,586,499
weighted-average common shares outstanding = basic and diluted																																																								41,271,308
exploration costs																																																										27,305
impairment of mineral rights
net loss per common share:
basic and diluted																																																										-0.09

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-10-31

assets
current assets:
cash and cash equivalents	513,653,000	547,132,000	826,392,000	109,475,000	196,215,000	391,771,000	164,256,000	256,027,000	324,268,000	357,313,000	101,210,000	113,675,000	124,882,000	103,705,000	55,339,400	118,511,331	268,522,019	32,854,092	170,615,847	211,934,086	141,322,776	17,252,110	775,119	474,546	692,963	1,342,985	1,688,426	1,964,484	2,551,171	3,188,780
restricted cash	12,000,000	12,000,000	12,000,000	12,000,000	12,000,000	12,000,000	12,000,000	12,000,000				14,286,000		8,800,000	8,800,000																			3,919,718
digital assets, current portion	1,903,000	2,391,000	3,712,000	2,259,000	3,098,000	4,327,000
other receivables	25,642,000	18,540,000	33,120,000	31,026,000	8,628,000	6,345,000				2,091,000
deposits	15,648,000	19,537,000	24,375,000	19,428,000	22,744,000	18,778,000	26,497,000	26,185,000	40,855,000	7,240,000	7,104,000	7,508,000	11,927,000	2,350,000	22,533,569	40,791,699
derivative instrument, current portion	1,262,000	20,340,000	21,938,000	21,046,000	21,072,000	1,542,000	6,276,000	13,710,000
prepaid expenses and other current assets	41,000,000	44,328,000	40,385,000	41,221,000	28,069,000	35,610,000	16,728,000	28,164,000	32,574,000	23,499,000	36,338,000	51,797,000	60,240,000	40,833,000	26,015,943	24,764,814	8,148,016	35,750,562	3,570,683	2,513,812	2,399,965	627,552	741,138	908,348	800,024	209,935	242,012	309,501	464,006	550,184	574,852	184,038	92,855										124,436	149,643	438,391	340,456	653,445	579,382	752,931					57,916
total current assets	611,108,000	664,268,000	961,922,000	236,455,000	291,826,000	470,373,000	239,372,000	371,946,000	1,640,760,000	1,029,803,000	432,646,000	422,437,000	386,308,000	277,548,000	240,107,010	592,585,820	688,150,191	554,559,962	491,650,870	635,886,383	286,409,215	31,601,221	5,820,157	1,503,597	1,494,128	1,555,801	1,934,978	2,279,622	3,015,177	3,841,062	5,192,738	5,620,045	15,048,210	4,863,262	2,305,242	1,763,448	5,521,432	2,511,122	9,847,930	3,163,295	4,778,902	7,644,735	4,105,980	12,123,577	7,684,153	16,407,040	7,232,730	6,276,261	4,639,443	6,521,663	7,093,468	3,006,787	2,489,147	1,979,583	3,542,102	10,168,499
other assets:
digital assets, net of current portion	1,726,995,000	3,369,245,000	4,048,555,000	3,686,882,000	2,745,302,000	3,223,989,000
digital assets - receivable	680,521,000	1,336,868,000	1,973,823,000	1,646,478,000	1,164,189,000	960,057,000
property and equipment	1,406,132,000	1,490,635,000	1,554,666,000	1,634,053,000	1,566,069,000	1,549,491,000	1,092,140,000	929,534,000	802,332,000	671,772,000	741,659,000	783,865,000	714,916,000	273,026,000	403,522,538	333,317,458	276,242,794	93,932,227	80,151,147	41,960,893	17,224,321	4,682,293	3,613,529	2,835,563	3,754,969	4,713,966	759,853	897,214	1,034,575	3,855,812	4,457,869	5,578,377	10,011	9,803	12,213	20,414	28,329	38,389	46,977	52,793	61,297	70,680	70,738	80,659	53,828	13,026	10,806	12,223	13,640	8,056	8,889	9,722
advances to vendors	292,000	7,651,000	107,441,000	6,261,000	134,045,000	121,298,000	240,322,000	385,424,000	261,140,000	95,589,000	23,964,000	7,351,000	57,511,000	488,299,000	687,777,200
investments	131,827,000	133,814,000	137,137,000	134,259,000	137,214,000	111,493,000	154,046,000	116,282,000	112,203,000	106,292,000	103,038,000	99,918,000	80,194,000	37,000,000	36,999,994	13,499,825
long-term deposits	214,522,000	219,098,000	211,424,000	211,345,000	240,774,000	240,651,000	56,185,000	56,639,000	59,164,000	59,790,000	57,820,000	55,070,000
long-term prepaids	3,029,000	3,029,000	12,748,000	12,748,000	14,194,000	14,221,000	19,616,000	21,153,000	21,055,000	27,284,000	24,152,000	4,037,000
operating lease right-of-use assets	34,221,000	32,324,000	32,388,000	32,996,000	27,335,000	16,874,000	9,363,000	9,728,000
derivative instrument, net of current portion	7,012,000	28,979,000	29,726,000	35,040,000	14,703,000	7,405,000	17,970,000	20,278,000
goodwill	90,487,000		82,776,000	82,776,000	82,751,000	82,751,000	45,362,000	45,362,000	30,852,000																									228,401	224,353	224,353	222,843	4,483,129	4,453,945	4,605,733	4,482,845	4,573,450	4,556,291	4,453,997	3,432,308	1,606,800	2,227,488	2,144,488	2,144,488	2,144,488	2,144,488
intangible assets	43,123,000	988,000	771,000	2,150,000	2,432,000	2,714,000	1,975,000	2,194,000	21,664,000																												12,314,628							40,157,085	43,363,832	33,514,365	19,533,517	5,704,012	6,157,659	3,217,007	2,501,984	474,605	492,152
total long-term assets	4,338,161,000	6,622,631,000	8,191,455,000	7,484,988,000	6,152,620,000		3,340,777,000	2,745,209,000	1,316,227,000	961,170,000	951,134,000	950,800,000
total assets	4,949,269,000	7,286,899,000	9,153,377,000	7,721,443,000	6,444,446,000	6,801,317,000	3,580,149,000	3,117,155,000	2,956,987,000	1,990,973,000	1,383,780,000	1,373,237,000	1,303,932,000	1,195,244,000	1,475,777,433	1,538,100,247	1,448,244,423	664,340,598	583,863,856	686,685,884	313,251,239	37,528,664	10,716,846	5,668,117	6,619,962	7,680,021	4,142,738	4,662,129	5,194,507	8,859,423	10,830,950	12,396,559	15,058,221	12,691,679	14,100,530	13,891,385	18,288,435	38,704,269	46,935,447	45,622,612	47,227,593	66,583,013	65,587,946	63,933,072	59,486,430	53,490,632	29,004,541	14,136,984	12,955,230	11,891,214	11,748,829	3,721,202	4,016,869	3,500,830	3,796,118	10,493,499	3,400
liabilities, redeemable noncontrolling interest and equity
current liabilities:
accounts payable	7,843,000	12,546,000	11,434,000	9,837,000	6,489,000	12,556,000	12,561,000	28,840,000	33,274,000	11,343,000	15,219,000	7,150,000	3,235,000	1,311,000	19,051,369	7,715,259
accrued expenses	105,033,000	86,985,000	74,330,000	56,803,000	45,750,000	76,887,000	36,861,000	67,182,000	32,242,000	22,015,000	21,702,000	20,390,000	17,756,000	22,294,000	2,140,544	4,124,873
notes payable, current portion	47,908,000	47,845,000
line of credit, current portion	150,000,000	350,000,000	350,000,000	350,000,000	300,000,000
operating lease liabilities, current portion	2,617,000	1,722,000	1,316,000	1,052,000	872,000	239,000	367,000	316,000
finance lease liability, current portion	173,000	173,000	173,000	173,000	168,000	168,000	179,000	180,000
other current liabilities	17,892,000	22,604,000	22,118,000	23,155,000	15,091,000	5,347,000	3,545,000	2,693,000
total current liabilities	331,466,000	521,875,000	459,371,000	441,020,000	368,370,000	95,197,000	59,789,000	99,211,000	71,131,000	33,758,000	38,173,000	28,337,000	23,819,000	26,113,000	45,541,517	14,815,003	13,794,399	3,924,170	3,344,571	2,900,301	1,443,775	1,134,885	928,856	1,404,275	1,852,705	4,055,729	2,263,124	2,325,363	2,273,633	1,474,289	3,143,518	3,970,339	7,670,100					17,303,738				28,704,747	23,567,448	15,347,024	22,470,746	14,344,204
long-term liabilities:
notes payable, net of current portion	2,218,261,000	3,202,082,000
operating lease liabilities, net of current portion	41,184,000	39,714,000	39,605,000	39,722,000	33,298,000	22,977,000	15,014,000	15,106,000
finance lease liability, net of current portion	3,817,000	3,817,000	3,817,000	3,817,000	3,709,000	3,709,000	4,832,000	4,834,000
deferred tax liabilities	8,624,000	29,857,000	215,760,000	178,083,000		88,503,000		20,842,000	52,842,000	15,286,000			75,000		22,820,558	18,723,657	23,020,721
other long-term liabilities	12,676,000	12,464,000	12,251,000	12,043,000	11,840,000	8,411,000	8,268,000	7,994,000	16,978,000
total long-term liabilities	2,284,562,000	3,287,934,000	3,518,994,000	2,484,211,000	2,347,396,000	2,570,178,000	664,767,000	375,289,000	408,963,000	341,294,000	325,654,000	734,654,000	734,244,000	783,188,000	805,133,954	749,171,924	751,426,643			62,500	62,500	106,861	129,755	1,094,124	1,119,585	134,947	157,007	178,574		999,106				718,411	14,150,779	15,552,139	7,114,562	9,023,798	14,012,091	15,721,127	17,600,203	22,207,321	24,180,994	27,291,724	12,763,065	10,967,000
commitments and contingencies
redeemable noncontrolling interest	85,018,000
equity:
preferred stock, par value 0.0001...
common stock, par value 0.0001...	38,000	37,000	37,000	36,000	34,000	34,000			27,000	24,000
additional paid-in capital	4,833,967,000	4,809,550,000	4,786,522,000	4,542,968,000	4,284,279,000	4,155,386,000			2,707,333,000	2,183,537,000	1,822,504,000	1,461,188,000	1,393,428,000	1,226,267,000	1,057,798,421	939,741,806	835,693,610	824,612,618	722,543,196	716,862,400	428,242,763	147,554,790	118,933,134	110,284,952	109,705,051	108,394,883	105,873,870	105,743,575	105,459,482	104,530,234	104,491,375	100,553,943	97,113,723	61,833,077	53,950,993	51,313,656	49,877,689	44,901,535	44,422,717	43,774,961	43,217,513	42,014,873	40,478,627	39,750,659	36,977,169	35,709,773	32,598,618	23,172,350	22,673,287	20,917,699	19,794,687	11,192,230	10,972,122	9,933,153	8,416,451	13,484,108
accumulated other comprehensive loss	-4,544,000														-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,719	-450,734			-1,059,308						-973,063	-1,018,691	-1,338,596
accumulated deficit	-2,597,486,000	-1,337,867,000			-559,586,000	-26,387,000			-230,467,000	-567,640,000	-802,572,000	-866,709,000	-847,576,000	-840,339,000	-432,257,421	-165,188,372	-152,229,783	-163,755,722	-141,583,155	-32,698,535	-116,055,277	-110,821,050	-108,826,633	-106,665,437	-105,607,506	-104,455,590	-103,701,183	-103,135,303	-102,090,441	-97,696,039	-96,355,582	-91,678,937	-89,276,117	-70,427,472	-63,749,987	-61,549,194		-31,539,066	-25,264,658	-33,170,937		-25,372,401	-21,621,932	-17,119,236	-12,337,665			-10,769,075						-6,548,595	-4,655,700	-3,069,201
total stockholders’ equity attributable to mara	2,231,975,000	3,471,720,000	5,158,336,000	4,791,653,000	3,724,727,000	4,129,033,000
noncontrolling interests	16,248,000																																	-191,282		-234,484		-27,918
total equity	2,248,223,000	3,477,090,000	5,175,012,000	4,796,212,000	3,728,680,000	4,135,942,000																													-11,048,968
total liabilities, redeemable noncontrolling interest and equity	4,949,269,000
liabilities and equity
line of credit, net of current portion					50,000,000
noncontrolling interest		5,370,000	16,676,000	4,559,000	3,953,000	6,909,000																																	-3,722
total liabilities and equity		7,286,899,000	9,153,377,000	7,721,443,000	6,444,446,000	6,801,317,000
notes payable			3,247,561,000	2,250,546,000	2,248,549,000	2,246,578,000	618,683,000	326,513,000	326,083,000	325,654,000	325,266,000	734,231,000	733,260,000	732,289,000		729,376,808																													17,085,000	6,062,500	5,062,500
accumulated earnings			371,777,000	248,649,000
deferred tax assets					23,612,000		28,646,000																															11,918,920	8,893,421	14,385,393	12,437,741	10,529,693	10,257,415	7,117,753	4,952,309	1,949,401
line of credit						200,000,000
digital assets							17,099,000	17,117,000	1,234,695,000	639,660,000	286,801,000	234,412,000	189,087,000	121,842,000
accounts receivable							2,792,000	18,743,000	8,368,000																																									330,000	250,000
liabilities and stockholders’ equity
right-of-use assets									7,817,000	443,000	501,000	559,000	1,180,000	1,276,000	1,369,774	1,326,491					200,301	224,954	245,170	273,173	297,287	318,881	338,740	358,332
derivative instrument									4,263,000
operating lease liabilities									1,352,000	124,000	150,000	174,000	336,000	326,000	306,444	264,460
stockholders’ equity:
total stockholders’ equity									2,476,893,000	1,615,921,000	1,019,953,000	594,496,000	545,869,000	385,943,000	625,101,962	774,113,320	683,023,381	660,416,428	580,519,285	683,723,083	311,744,964	36,286,918	9,658,235	3,169,718	3,647,672	3,489,345	1,722,607	2,158,192	2,920,874	6,386,028	7,687,432	8,426,220	7,388,121			-11,526,625		12,376,733	17,987,364		12,675,742	15,670,945
total liabilities and stockholders’ equity									2,956,987,000	1,990,973,000	1,383,780,000		1,303,932,000	1,195,244,000	1,475,777,433	1,538,100,247	1,448,244,423	664,340,598	583,863,856	686,685,884	313,251,239	37,528,664	10,716,846	5,668,117	6,619,962	7,680,021	4,142,738	4,662,129	5,194,507	8,859,423	10,830,950	12,396,559	15,058,221		14,100,530	13,891,385	18,288,435	38,704,269	46,935,447	45,622,612	47,227,593	66,583,013
digital assets, restricted														68,875,000
legal reserve payable														1,171,000	21,199,549
accrued interest										276,000	1,102,000					2,710,411
term loan														49,882,000	49,863,008
other receivable											1,193,000	759,000	172,000	18,000							74,767,226
preferred stock, 0.0001 par value...
common stock, 0.0001 par value...											21,000	17,000	17,000	15,000	11,681	10,605	10,273	10,251	9,963	9,937	8,197	3,897	2,453	922	846	771	639	639	2,552	2,552	2,358	1,933	1,248
liabilities, series a preferred stock and stockholders’ equity
current portion of accrued interest												623,000	2,492,000	1,011,000
series a preferred stock, 0.0001 par value...												15,750,000
total liabilities, series a preferred stock and stockholders’ equity												1,373,237,000
long term deposits													54,450,000	40,903,000	26,554,033
long term prepaids													9,373,000	8,317,000	8,703,542	3,130,766
total other assets													917,624,000	917,696,000	1,235,670,423	945,514,427	760,094,232	109,780,636	92,212,986	50,799,501		5,927,443	4,896,689	4,164,520	5,125,834	6,124,220	2,207,760	2,382,507	2,179,330	5,018,361	5,638,212	6,776,514		7,828,417	11,795,288	12,127,937	12,767,003	36,193,147	37,087,517	42,459,317	42,448,691	58,938,278	61,481,966	51,809,495	51,802,277	37,083,592	21,771,811	7,860,723	8,315,787	5,369,551	4,655,361	714,415	1,527,722	1,521,247	254,016	325,000
digital assets held in fund
digital currencies															126,418,098	135,123,592	102,805,980	64,357,910	28,966,404	10,746,219	2,271,656	451,889	108,700	2,892	1,141	2,881	4,540	5,637			385,275	68,044
digital currencies loaned
digital currencies held in fund
receivable from sale of equipment															1,000,000
loan receivable																30,000,000	30,000,000
digital currencies, restricted															70,743,342	20,437,284	20,437,284	9,573,684
current portion of accrued bond interest															2,843,611		867,260
long-term liabilities
convertible notes															731,318,578
subscription receivable																4,720,197																																		-25,000
investment fund																218,236,903	223,778,545	208,765,274	166,915,071	281,822,950
advances to vendor																594,239,887
deposit																	34,458,347	203,258,440	121,582,865	128,869,316	65,647,592	13,269,670	4,195,200
prepaid service contract																	13,665,589	14,899,389	11,095,026	7,854,000	8,415,000
deposit, non-current																	466,254,623
investment in safe agreements																	3,000,000
intangible assets, net of accumulated amortization of 280,497 and 207,598 for december 31, 2021 and 2020, respectively																	931,226
accounts payable and accrued expenses																	12,927,139	3,374,507	2,626,242	985,968	999,742	1,010,188	831,784	1,312,159	1,238,197	1,071,621	1,065,452	1,168,469	1,235,444	1,329,165	1,953,693	2,071,142	1,961,784	1,954,836	5,294,616	6,117,663	7,217,078	6,054,015	6,142,186	8,832,010	6,534,825	8,992,574	5,289,861	5,195,719	3,293,746	5,665,707	1,139,713	1,719,242	754,945	372,552	392,876	153,169	57,158	205,192	107,703	79,260
current portion of lease liability																						93,197	87,447	89,054	87,959	85,689	83,179	80,971
warrant liability																		549,663	718,329	1,914,333	322,437	31,500	9,625	3,062	12,849	46,836	115,387	76,817	39,083	145,124	190,719	285,348	1,794,396	2,411,750
convertible notes payable																	728,405,922							999,106	999,106	999,106	999,106	999,106
sba ppp loan payable																				62,500	62,500
total liabilities																	765,221,042	3,924,170	3,344,571	2,962,801	1,506,275	1,241,746	1,058,611	2,498,399	2,972,290	4,190,676	2,420,131	2,503,937	2,273,633	2,473,395	3,143,518	3,970,339	7,670,100	21,924,790	25,149,498	25,418,010	27,575,577	26,327,536	28,948,083	36,035,398	34,551,851	50,912,068	47,748,442	42,638,748	35,233,811	25,311,204	6,232,877	1,749,906	785,609	403,216	423,540	183,833	87,822	235,856	138,367	149,260	11,050
intangible assets, net of accumulated amortization of 260,980 and 207,598 for september 30, 2021 and december 31, 2020, respectively																		949,020
intangible assets, net of accumulated amortization of 243,187 and 207,598 for june 30, 2021 and december 31, 2020, respectively																			966,813
intangible assets, net of accumulated amortization of 225,392 and 207,598 for march 31, 2021 and december 31, 2020, respectively																				984,608
non-current assets:
intangible assets, net of accumulated amortization of 207,598 and 136,422 for december 31, 2020 and 2019, respectively																					1,002,402
total non-current assets																					26,842,024												10,011
mining servers payable																									513,700	1,852,477
current portion of operating lease liability																					121,596
operating lease liability
intangible assets, net of accumulated amortization of 189,804 and 136,422 for september 30, 2020 and december 31, 2019, respectively																						1,020,196
note payable																						62,500	62,500																																	70,000
lease liability																						44,361	67,255	95,018	120,479	134,947	157,007	178,574
intangible assets, net of accumulated amortization of 172,010 and 136,422 for june 30, 2020 and december 31, 2019, respectively																							1,037,990
accounts receivable - net of allowance for bad debt of 0 for march 31, 2020																								117,811
intangible assets, net of accumulated amortization of 154,216 and 136,422 for march 31, 2020 and december 31, 2019, respectively																								1,055,784
intangible assets, net of accumulated amortization of 136,422 and 65,245 for december 31, 2019 and 2018, respectively																									1,073,578
intangible assets, net of accumulated amortization of 118,627 and 65,245 for september 30, 2019 and december 31, 2018, respectively																										1,091,373
intangible assets, net of accumulated amortization of 100,833 and 65,245 for june 30, 2019 and december 31, 2018, respectively																											1,109,167
intangible assets, net of accumulated amortization of 83,039 and 65,245 for march 31, 2019 and december 31, 2018, respectively																												1,126,961
accounts receivable - net of allowance for bad debt of 0 and 387,976 for december 31, 2018 and december 31, 2017, respectively
intangible assets, net of accumulated amortization of 65,245 for december 31, 2018																													1,144,755
litigation liability																																	2,150,000
convertible notes payable, net of discount of 2,290,028 for december 31, 2017																													999,106
accounts receivable - net of allowance for bad debt of 0 and 387,976 for september 30, 2018 and december 31, 2017, respectively																														102,098
intangible assets, net of accumulated amortization of 47,451 for september 30, 2018																														1,162,549
convertible notes payable, net of discounts of 2,290,028 for december 31, 2017
convertible notes payable, net of discounts of 0 for september 30, 2018																														999,106
cash																															4,232,611	5,367,963	14,948,529	122,172	1,095,721	493,452	4,998,314	1,294,950	7,158,779	1,420,390	2,555,151	3,408,839	1,487,242	9,477,969	5,082,569	5,556,584	6,498,035	5,410,629	3,610,262	5,864,388	6,391,293	2,916,476	2,354,169	1,525,799	3,315,294	4,006,244	55
accounts receivable - net of allowance for bad debt of 387,976 for december 31, 2017
intangible assets, net of accumulated amortization of 29,657 for june 30, 2018																															1,180,343
notes payable, net of discounts of 0 and 2,290,028 for june 30, 2018 and december 31, 2017, respectively																															999,106
accounts receivable - net of allowance for bad debt of 394,802 and 387,976 for march 31, 2018 and december 31, 2017, respectively
intangible assets, net of accumulated amortization of 11,863 for march 31, 2018																																1,198,137
notes payable, net of discounts of 345,256 and 2,290,028 for march 31, 2018 and december 31, 2017, respectively																																1,613,849
accounts receivable - net of allowance for bad debt of 387,976 and 387,976 for december 31, 2017 and 2016, respectively.																																	6,826
note receivable, net of allowance of 588,864 for december 31, 2017
intangible assets, net of accumulated amortization of 11,323,185 for december 31, 2016
other non-current assets, net of discounts of 797 for december 31, 2016
clouding ip earn out - current portion																																		32,637	81,930	81,930	81,930	110,100		103,049	33,646	327,757	883,484	2,092,000	2,092,000	2,148,000
notes payable, net of discounts of 2,290,028 and 852,404 for december 31, 2017 and 2016, respectively																																	1,763,920
notes payable, net of discount of 572,763 for december 31, 2016
clouding ip earn out																																		681,175	1,386,203	1,386,203	1,400,082	1,082,586	3,147,054	3,213,177	3,281,238		6,264,215	7,360,000	7,360,000
revenue share liability																																		1,225,000	1,225,000	1,225,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000			1,000,000
other long-term liability
stockholders’ equity
preferred stock, .0001 par value...																																	1
non-controlling interests																																			-319,134
total cash																																		4,041,890
accounts receivable - net of allowance for bad debt of 387,976 and 387,976 for september 30, 2017 and december 31, 2016																																		123,630
note receivable																																		588,864	588,864	588,864
prepaid expenses and other current assets, net of discounts of 2,659 for september 30, 2017 and 3,724 for december 31, 2016																																		108,878
intangible assets, net of accumulated amortization of 12,813,915 and 11,323,185 for september 30, 2017 and december 31, 2016																																		7,590,213
other non current assets, net of discounts of 797 for december 31, 2016
liabilities and stockholders' equity
notes payable, net of discounts of 5,837,363 and 852,404 for september 30, 2017 and december 31, 2016																																		15,582,156
current liabilities: - sum																																		21,206,379	10,998,719	9,865,871	20,461,015		14,935,992		16,951,648
notes payable, net of discount of 57,763 for december 31, 2016
other long term liability																																		37,236	39,853	255,400	43,978	45,763	47,549	49,075	50,084
stockholders' deficit:
preferred stock series b, .0001 par value...																																		78	78	78	78	78	78	78	78	80	98	98	93
common stock, .0001 par value...																																		3,111	2,326	2,627	1,877	1,505	1,505	1,497		1,456	1,402	1,399			561
accumulated other comprehensive income																																		-450,623				-959,401	-1,168,556	-1,018,385
total marathon patent group stockholders' equity																																		-9,041,829
total deficit																																		-9,233,111
total liabilities and stockholders' deficit																																		12,691,679
accounts receivable - net of allowance for bad debt of 387,976 as of june 30, 2017 and december 31, 2016																																			116,336
bonds posted with courts																																			375,603	351,647		980,919	2,383,069	1,443,457	1,748,311	1,794,226	1,790,241	1,732,895	1,946,196
prepaid expenses and other current assets, net of discounts of 2,659 for june 30, 2017 and 3,724 for december 31, 2016																																			128,718
intangible assets, net of accumulated amortization of 12,691,608 and 11,323,185 for june 30, 2017 and december 31, 2016																																			11,358,722
other non current assets, net of discounts of 0 for june 30, 2017 and 797 for december 31, 2016																																			200,000
notes payable, net of discounts of 503,572 for june 30, 2017 and 852,404 for december 31, 2016																																			5,622,173
notes payable, net of discount of 1,302,129 for june 30, 2017 and 57,763 for december 31, 2016																																			11,499,723
stockholders deficit:
accumulated other comprehensive																																			-933,245
total marathon patent group stockholders deficit																																			-10,729,834
accounts receivable - net of allowance for bad debt of 387,976 for march 31, 2017 and december 31, 2016, respectively																																				103,397
prepaid expenses and other current assets, net of discounts of 3,279 for march 31, 2017 and 3,724 for december 31, 2016																																				226,088
intangible assets, net of accumulated amortization of 12,028,755 and 11,323,189 for march 31, 2017 and december 31, 2016																																				11,683,170
other non current assets, net of discounts of 797 for march 31, 2017 and december 31, 2016, respectively																																				200,000
notes payable, net of discounts of 440,219 and 852,404 for march 31, 2017 and december 31, 2016																																				3,666,278
notes payable, net of discount of 572,763 and 57,763 for march 31, 2017 and december 31, 2016																																				12,685,536
total marathon patent group stockholders’ equity																																				-11,292,141		12,404,651		9,587,214
accounts receivable - net of allowance for bad debt of 387,976 and 375,750 for december 31, 2016 and december 31, 2015																																					95,069
prepaid expenses and other current assets, net of discounts of 3,724 for december 31, 2016 and 3,414 for december 31, 2015																																					428,049
other non current assets, net of discounts of 797 and 4,831 for december 31, 2016 and december 31, 2015																																					201,203
notes payable, net of discounts of 852,404 and 730,945 for december 31, 2016 and december 31, 2015																																					13,162,007
notes payable, net of discount of 572,763 and 1,425,167 for december 31, 2016 and december 31, 2015																																					4,670,502
deferred tax liability																																						438,709	789,690	964,998	1,044,997	1,056,406	1,256,480	1,392,557
current assets
accounts receivable - net of allowance for bad debt of 387,976 and 375,750 for september 30, 2016 and december 31, 2015																																						81,865
prepaid expenses and other current assets, net of discounts of 2,483 for september 30, 2016 and 3,414 for december 31, 2015																																						153,388
intangible assets, net of accumulated amortization of 16,438,643 and 15,557,353 for september 30, 2016 and december 31, 2015																																						19,551,678
other non current assets, net of discounts of 2,969 and 4,831 for september 30, 2016 and december 31, 2015																																						201,031
notes payable, net of discounts of 818,919 and 730,945 for september 30, 2016 and december 31, 2015																																						11,139,623
notes payable, net of discount of 798,966 and 1,425,167 for september 30 , 2016 and december 31, 2015																																						6,456,740
accounts receivable - net of allowance for bad debt of 387,976 and 375,750 for june 30, 2016 and december 31, 2015																																							128,337
prepaid expenses and other current assets, net of discounts of 3,103 for june 30, 2016 and 3,414 for december 31, 2015																																							177,745
intangible assets, net of accumulated amortization of 18,013,247 and 15,557,353 for june 30, 2016 and december 31, 2015																																							23,488,453
other non current assets, net of discounts of 3,279 and 4,831 for june 30, 2016 and december 31, 2015																																							204,721
notes payable, net of discounts of 788,320 and 730,945 for june 30, 2016 and december 31, 2015																																							8,793,806
notes payable, net of discount of 1,016,198 and 1,425,167 for june 30, 2016 and december 31, 2015																																							9,027,798
total marathon patent group, inc. stockholders’ equity																																							17,991,086
accounts receivable - net of allowance for bad debt of 375,750 and 375,750 for march 31, 2016 and december 31, 2015																																								153,112
prepaid expenses and other current assets, net of discounts of 3,414 and 3,414 for march 31, 2016 and december 31, 2015																																								146,336
intangible assets, net of accumulated amortization of 16,423,203 and 15,557,353 for march 31, 2016 and december 31, 2015																																								23,208,298
other non current assets, net of discounts of 3,900 and 4,831 for march 31, 2016 and december 31, 2015																																								207,100
notes payable, net of discounts of 754,421 and 730,945 for march 31, 2016 and december 31, 2015																																								11,379,212
notes payable, net of discount of 1,224,817 and 1,425,167 for march 31, 2016 and december 31, 2015																																								10,493,877
accounts receivable - net of allowance for bad debt of 375,750 and 0 for december 31, 2015 and december 31, 2014																																									136,842
prepaid expenses and other current assets, net of discounts of 3,414 and 0 for december 31, 2015 and december 31, 2014																																									338,598
intangible assets, net of accumulated amortization of 15,557,353 and 6,550,528 for december 31, 2015 and december 31, 2014																																									25,457,639
other non current assets, net of discounts of 4,831 and 0 for december 31, 2015 and december 31, 2014																																									9,169
notes payable, net of discounts of 730,945 and 82,010 for december 31, 2015 and december 31, 2014																																									10,383,177
notes payable, net of discount of 1,425,167 and 64,925, for december 31, 2015 and december 31, 2014																																									12,223,884
preferred stock series a, .0001 par value...
common stock, (.0001 par value...																																									1,487				1,379	580		549	549	534			4,555		3,351
accounts receivable - net of allowance for bad debt of 0 and 0 for september 30, 2015 and december 31, 2014																																										2,326,717
prepaid expenses and other current assets, net of discounts of 3,414 and 0 for september 30, 2015 and december 31, 2014																																										114,953
intangible assets, net of accumulated amortization of 14,931,649 and 6,550,528 for september 30, 2015 and december 31, 2014																																										43,753,217
other non current assets, net of discounts 5,760 and 0 for september 30, 2015 and december 31,2014																																										11,238
notes payable, net of discounts of 703,762 and 82,010 for september 30, 2015 and december 31, 2014																																										19,384,416
notes payable, net of discount of 1,617,885 and 64,925, for september 30, 2015 and december 31, 2014																																										13,876,928
other non current liability																																										51,092	52,101	52,867
revenue sharing liability																																										1,000,000	1,000,000
clouding ip earnout - long-term portion																																										6,222,895
accounts receivable - net of allowance for bad debt of 0 and 0 for june 30, 2015 and december 31, 2014																																											704,061
intangible assets, net of accumulated amortization of 12,043,560 and 6,550,528 for june 30, 2015 and december 31, 2014																																											46,597,522
notes payable, net of discounts and loan fees of 676,182 and 82,010 for 6/30/15 and 12/31/14																																											17,394,103
notes payable, net of discount and loan fees of 1,804,517 and 64,925, for 6/30/15 and 12/31/14																																											15,608,198
stockholders' equity:
total stockholders' equity																																											17,839,504	21,294,324	24,252,619	28,179,428	22,771,664	12,387,078	12,169,621	11,487,998	11,325,289	3,537,369	3,929,047	3,264,974	3,657,751	10,344,239
total liabilities and stockholders' equity																																											65,587,946	63,933,072	59,486,430	53,490,632	29,004,541	14,136,984	12,955,230	11,891,214	11,748,829	3,721,202	4,016,869	3,500,830	3,796,118	10,493,499
accounts receivable - net																																												763,070	216,997	10,510,000	75,000	280,000	270,000
notes payable, net of discounts of 784,154 and 82,010 for 3/31/15 and 12/31/14																																												8,059,305
notes payable, net of discount of 1,818,185 and 64,925, for 3/31/15 and 12/31/14																																												17,486,300
marketable securities - available for sale securities																																															6,250	6,250	6,250	6,250	6,250	6,250	12,500	12,500	18,750	50,000
convertible notes, net of discount of 146,935																																													5,403,065
liabilities of discontinued operations																																															30,664	30,664	30,664	30,664	30,664	30,664	30,664	30,664	30,664
accumulated other comprehensive income <loss>																																													-388,357
total marathon patent group, inc. equity																																													24,252,619	28,179,428	22,782,160	12,397,574	12,180,117	11,498,494	11,335,785	3,547,865	3,939,543
non-controlling interest in subsidiary																																															-10,496	-10,496	-10,496	-10,496	-10,496	-10,496	-10,496	-10,496	-101
income tax payable																																														467,997
clouding ip earn out, long-term portion																																														10,967,000
series a convertible preferred stock, .0001 par value...																																														101
series b convertible preferred stock, .0001 par value...																																														39
accumulated other comprehensive income - marketable securities available for sale																																																		-6,250	-6,250	-6,250		-112,500	-106,250	-75,000
accumulated deficits																																														-7,531,065	-9,810,910		-10,487,469
convertible preferred stock series a, .0001 par value...																																															102
convertible preferred stock series b, .0001 par value...																																															39
accumulated other comprehensive loss - marketable securities available for sale																																															-6,250	-6,250	-6,250
see accompanying notes to unaudited consolidated financial statements.
assets of discontinued operations - current portion																																																				53,395	82,145
assets of discontinued operations - long term portion																																																				230,088	1,035,570
prepaid expenses																																																		321,025	445,925	30,666	40,333		75,000	112,255	3,345
deficits accumulated during the development stage																																																		-9,388,489	-8,453,169	-7,642,670	-7,037,134
authorized: none issued and outstanding
5,167,988 and 3,503,565 issued and outstanding at june 30, 2013 and december 31, 2012																																																			517
45,546,345 and 45,546,345 issued and outstanding at march 31, 2013 and december 31, 2012																																																				4,555
notes payable - related party
advances payable
stockholders' equity
note receivable - related party																																																						147,708	133,058
deposits in real estate under contract																																																						85,660
deposits pursuant to non-binding agreements																																																						150,000
real estate held for sale																																																						1,521,247	254,016
34,118,127 and 10,000,000 issued and outstanding at september 30, 2012 and december 31, 2011																																																						3,412
total american strategic minerals corporation deficit																																																						3,275,470	3,657,852
deposit pursuant to an option agreement																																																								6,000,000
mineral rights																																																								325,000
43,318,854 and 10,000,000 issued and outstanding at march 31, 2012 and december 31, 2011																																																								4,332
liabilities and stockholders’ (deficit) equity
note payable – related party																																																									11,050
stockholders’ (deficit) equity:
common stock, 0.001 par value...																																																									9,050
additional paid in capital																																																									16,200
deficit accumulated during the development stage																																																									-32,900
total stockholders’ (deficit) equity																																																									-7,650
total liabilities and stockholders’ (deficit) equity																																																									3,400

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-06-30	2015-03-31	2014-12-31	2014-06-30	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31

cash flows from operating activities
net loss	-1,262,397,000													-406,712,362						-5,234,227	-1,994,417	-2,161,196	-1,057,931	-1,151,916	-754,407	-565,880	-1,044,862	-4,394,402	-1,340,457	-4,676,645	-2,402,820	-18,848,645	-5,807,439	-3,606,646			-3,893,413			-4,781,571		-598,863								-2,959,879
adjustments to reconcile net loss to net cash from operating activities:
depreciation and amortization	191,556,000	285,818,000	167,312,000	161,741,000	157,897,000	136,767,000	101,136,000	87,808,000	77,995,000	70,957,000	53,548,000	37,275,000	17,733,000	13,827,677	18,538,926
deferred tax benefit	-31,394,000														-4,297,064
change in fair value of digital assets and digital assets - receivable	1,018,589,000	1,451,113,000	-343,099,000	-1,192,574,000	510,229,000
net gain on investments		-187,000	0	0	-12,429,000
stock-based compensation	30,506,000	30,058,000	38,466,000	54,656,000	49,115,000	54,057,000	23,340,000	28,332,000	51,913,000	18,737,000	5,511,000	4,451,000	3,945,000
change in fair value of derivative instrument	41,045,000	2,345,000	4,422,000	-20,311,000	-26,828,000	-33,192,000
restructuring costs	45,885,000
equity in net earnings of unconsolidated affiliate	2,171,000	2,073,000	1,711,000	902,000	13,000	680,000	2,133,000			-30,000
net gain on extinguishment of debt	-70,557,000
other adjustments from operations	-10,156,000	-3,491,000	10,148,000	1,957,000	2,303,000	3,142,000	-948,000	-5,700,000	4,307,000	-125,000	-522,000	-159,000	1,290,000	134,163
changes in operating assets and liabilities	-202,737,000		-243,820,000	-205,967,000	-250,230,000
net cash from operating activities	-247,489,000	-224,745,000	-199,049,000	-163,443,000	-215,488,000	-313,426,000	-160,085,000	-115,171,000	-88,340,000	-91,164,000	-81,619,000	-114,056,000	-28,812,000	-92,238,392	-26,059,098	25,695,933	-37,122,651	-3,708,581	-3,083,261	-4,325,484	-1,358,176	-1,017,807	-1,072,237	-1,117,374	-732,173	-657,972	-811,136	-1,980,526	-652,894	-1,954,729	-3,650,422				11,214,122	13,011,598	113,169		-5,592,048	-1,145,055	1,220,537	2,399,586	-572,126	-253,898	-460,271	-233,175	-98,015	-507,614	-171,876	-483,899
capital expenditures	-79,523,000	-164,472,000	-84,828,000	-118,915,000	-38,856,000	-186,522,000	-37,994,000	-17,221,000	-9,088,000	-1,798,000	-2,497,000	-6,046,000	-17,270,000	-21,278,763	-6,534,120	-189,180,975	-18,103,485	-41,110,125	-25,456,714	-14,608,407	-1,856,453	0	0	-1	0	0	0	0	2,994	545,916	-5,800,629				-8,387	-4,194	-2,097		-20,668	-37,147	-28,060	0	-7,000	0	0	-10,000	0	0	0	0
free cash flows	-327,012,000	-389,217,000	-283,877,000	-282,358,000	-254,344,000	-499,948,000	-198,079,000	-132,392,000	-97,428,000	-92,962,000	-84,116,000	-120,102,000	-46,082,000	-113,517,155	-32,593,218	-163,485,042	-55,226,136	-44,818,706	-28,539,975	-18,933,891	-3,214,629	-1,017,807	-1,072,237	-1,117,375	-732,173	-657,972	-811,136	-1,980,526	-649,900	-1,408,813	-9,451,051				11,205,735	13,007,404	111,072		-5,612,716	-1,182,202	1,192,477	2,399,586	-579,126	-253,898	-460,271	-243,175	-98,015	-507,614	-171,876	-483,899
cash flows from investing activities
advances to vendors	-629,000	62,276,000	-107,124,000	-10,960,000	-97,432,000	-232,498,000	-119,522,000	-240,111,000	-225,166,000	-71,625,000	-25,481,000	-50,269,000	-11,565,000	-1,742,515
acquisition, net of cash acquired	-196,774,000	0	0	-25,000	-36,344,000		41,000	-92,065,000	-183,815,000
purchase of property and equipment	-79,523,000	-164,472,000	-84,828,000	-118,915,000	-38,856,000	-186,522,000	-37,994,000	-17,221,000	-9,088,000	-1,798,000	-2,497,000	-6,046,000	-17,270,000	-21,278,763	-6,534,120	-189,180,975	-18,103,485	-41,110,125	-25,456,714	-14,608,407	-1,856,453			-1				0	2,994	545,916	-5,800,629												-7,000	0	0	-10,000
proceeds from sale of property and equipment	612,000	0	-20,000	202,000	3,472,000	1,306,000
purchase of intangible assets	-535,000
proceeds from sale of digital assets	1,464,778,000	251,447,000	168,148,000	5,577,000	8,675,000	33,932,000	4,657,000	68,931,000	44,770,000	85,436,000	65,581,000	51,282,000	62,646,000
purchase of digital assets		-191,659,000	-254,944,000	0	-27,131,000	-1,551,272,000	-376,562,000	-11,733,000	-7,293,000
investment in equity method investments	2,357,000	-4,849,000	-1,886,000	-3,042,000	-2,786,000	492,000	-8,355,000	-10,792,000	-2,999,000
purchase of equity investments		-1,000	-4,998,000	-1,000	-19,444,000	4,000	-1,955,000	-5,000	-8,000,000					-180	-10,499,825
net cash from investing activities	1,190,286,000	-47,258,000	-285,652,000	-127,164,000	-209,846,000	-1,996,804,000	-537,668,000	-277,996,000	-416,591,000	4,968,000	33,578,000	38,078,000	-72,029,000	-22,155,095	-209,424,570	-519,693,543	-99,761,022	-33,799,674	-238,662,438	-66,162,485	-10,427,722	-5,166,009	468,703	301,675	306,915	381,914	224,449	1,342,917	2,994	545,916	-6,050,629	-2,773,254	-4,194	-2,097	-3,561,043	-1,154,194	-2,097		-20,668	-37,147	-994,092	-5,100,800	-2,207,000	-970,603	-619,912	795,482	133,385	-1,281,881	-387,074	-325,000
cash flows from financing activities
proceeds from issuance of common stock, net of issuance costs		-3,330,000	252,550,000	219,203,000	100,140,000	696,617,000	320,761,000	344,950,000	489,293,000	342,579,000	36,953,000	65,538,000	163,295,000	162,784,498
repurchase of shares in settlement of restricted stock	-7,455,000	-3,700,000	-7,691,000	-15,168,000	-20,362,000	-5,892,000	-5,852,000	-6,578,000	-16,535,000
borrowings from line of credit	150,000,000
repayment of convertible notes	-912,774,000	0
repayment of line of credit	-350,000,000
contribution from noncontrolling interest	137,000
proceeds from issuance of noncontrolling interest in subsidiary	11,795,000
net cash from financing activities	-1,108,297,000	-7,257,000	1,201,618,000	203,867,000	229,778,000	2,537,745,000	605,982,000	336,926,000	471,886,000	342,299,000	21,290,000	79,057,000	113,218,000	162,755,924	85,472,980	729,665,537	-878,082	-3,809,984	312,357,009	194,558,635	28,262,889	6,484,389	385,117	165,677						273,461	120,470								2,013,844	5,568,750	-700,460	5,588,988	525,000	697,596			793,000	0	-132,000	4,685,991
effect of exchange rate changes on cash, cash equivalents and restricted cash	-3,642,000
net decrease in cash, cash equivalents and restricted cash	-169,142,000			-86,740,000	-195,556,000
cash, cash equivalents and restricted cash — beginning of period	694,795,000	0	0	0	403,771,000	0	0	0	357,313,000	0	0	0	112,505,000	163
cash, cash equivalents and restricted cash — end of period	525,653,000	-279,260,000	716,917,000	-86,740,000	208,215,000	227,515,000	-91,771,000	-56,241,000	324,268,000	256,103,000	-26,751,000	3,079,000	124,882,000	48,362,600
net income		-1,709,788,000	123,134,000	808,205,000	-533,443,000	528,283,000	-124,789,000	-199,659,000	337,173,000	223,404,000			-7,235,000		-12,958,589	11,525,939	-22,172,567	-108,884,620	83,356,742																				-9,284,267
adjustments to reconcile net income to net cash from operating activities:
deferred tax expense		-185,903,000	37,677,000	201,695,000	-112,115,000	117,149,000	-49,488,000	-32,000,000	37,556,000	14,935,000	73,000	203,000	75,000	-22,374,837
impairment of goodwill and other assets
early termination expenses		0				0	10,304,000	5,660,000	22,097,000
changes in operating assets and liabilities:
revenues from digital assets production								-136,309,000	-144,423,000
other receivables
deposits								-15,245,000	-1,259,000	-2,106,000	-2,346,000	3,799,000	-23,124,000	-10,839,571	-6,287,068																																			3,500
prepaid expenses and other current assets																																					192,352		51,455		-193,289	-218,037
accounts payable and accrued expenses								24,588,000	-781,000	-3,213,000	925,000	6,218,000	-3,784,000	5,129,360	-1,087,007	9,552,632	748,266	1,640,275	-13,775	-375,278	178,405	99,594	73,961	166,575	6,170	-103,017	-66,975	-93,721	-624,528	-117,449	110,104	4,008,367	-1,922,462	-1,099,415	-557,832	-2,423,411	1,953,751	-2,238,136	2,046,662	1,920,185	-2,371,758	334,294	382,393	-20,324	239,707	96,011	-148,034	97,490	28,443	75,260
payments on hedge settlements
proceeds from issuance of convertible notes, net of issuance costs		-786,000
proceeds from issuance of series a preferred stock, net of issuance costs
redemption of series a preferred stock
line of credit		0	0	0	150,000,000
repayment of finance lease liabilities		0	0
repayment of term loan borrowings											0	0	-50,000,000
purchased capped calls		0
net increase in cash, cash equivalents and restricted cash		-279,260,000						-56,241,000	-33,045,000			3,079,000	12,377,000
impairment of assets			0
loan receivable
cash paid for shares withheld for taxes
deposits for acquisitions									-25,000,000
amortization of prepaid service contract														-73					561,000
gain on sale of equipment, net of disposals
losses on digital assets held within investment fund
impairment of digital assets											11,885,000	8,363,000	6,151,000
impairment of mining equipment and advances to vendors
allowance for credit losses
gain on investments						0	1,000,000	0	-5,236,000
loss on hedge instruments						-1,712,000	0	0	2,292,000
amortization of intangible assets						261,000	219,000	19,470,000	2,969,000																														5,627,461			1,392,326
amortization of debt issuance costs						1,280,000	575,000	430,000	429,000	388,000	838,000	971,000	971,000
impairment of patents														-363	919,363
impairment of deposits due to vendor bankruptcy filing
gain on extinguishment of debt										0
accounts receivable								-5,677,000	3,514,000																								-21,267	-8,328	43,763	12,557	-15,275		-487,328	-546,101	10,293,003	252,050	60,000	-80,000
prepaid expenses and other assets								3,432,000	-2,072,000	9,707,000	-4,625,000	13,775,000	-20,738,000	-18,302,552	-6,210,505	28,836,347	-29,654,241	1,067,941	-113,847	471,587	113,586	167,210	-108,324	-590,089	32,077	67,489	55,364	86,178	24,668	-390,814	-91,183	604,887	-289,533	-386,903	-6,652
legal reserve payable														-20,028,549
acquisitions, net of cash acquired
deconsolidation of fund
sale of digital assets in investment fund
proceeds from term loan borrowings, net of issuance costs														0
borrowings from revolving credit agreement
value of shares withheld for taxes						130,000	-522,000	-1,283,000	-872,000	-280,000	87,000	-110,000	-77,000	-28,574		-25,587	-878,082
change in fair value of digital assets							-30,088,000
proceeds from issuance of convertible debt, net of issuance costs
repayments of finance lease liabilities							0
change in fair value of derivative								-38,251,000	15,252,000
loss on extinguishment of debt
accrued interest										-826,000	479,000	-1,869,000	1,481,000	-1,832,351	1,843,151
repayments of revolving credit agreement
gains on digital assets									-488,807,000
equity in net income of unconsolidated affiliate									-1,259,000
losses on digital assets and digital assets loan receivable
sale of property and equipment
purchase of digital assets in investment fund
investment in joint venture
proceeds received on exercise of options and warrants																1,285,240	-1
operating activities
(gains) on digital assets and losses on digital assets loan receivables
impairment of assets related to vendor bankruptcy filing														16,674,000
revenues from digital asset production											-97,849,000	-81,950,000	-50,941,000
investing activities
investments in joint venture											-4,025,000	-19,535,000	-43,194,000
sale of digital currencies in investment fund
financing activities
proceeds from issuance of preferred stock, net of issuance costs											0
redemption of preferred stock
net change in revolving credit agreement borrowings
gains on digital assets and losses on digital assets loan receivable
loss from extinguishment of debt
supplemental information
cash paid during the year for:
income taxes
interest												3,099,000	1,425,000																													20	373	243	229	230
supplemental schedule of non-cash investing and financing activities:
series a preferred stock accretion to redemption value
receivable due to share issuance															4,720,197
operating lease assets obtained in exchange for new operating lease liabilities														427	1,352,623
reclassifications from advances to vendor to property and equipment upon receipt of equipment												100,164,000	442,353,000	76,910,092
common stock issued for service and license agreements														-2,999	4,579,999	0	6,330,000
realized and unrealized losses on digital assets held within investment fund
realized (gains) on digital assets and unrealized losses on digital assets loan receivable													-17,615,000
income from extinguishment of debt													333,000
digital assets:
realized and unrealized gains on digital assets held within investment fund
realized and unrealized gains on digital assets loan receivable and digital assets
digital assets
sales of property and equipment														1,000,235
sale of digital currencies																	24,000	24,000	16,000	823,844	503,201	306,646	468,703	301,676	312,139	381,914	224,449
deconsolidation of investment fund
proceeds received on issuance of note payable
digital assets transferred from investment fund
common stock issued for purchase of mining servers																				0	0	0	171,622
reduction of share commitment for purchase of mining servers																				0	0	0	408,625
common stock issued for note conversion																				1	0							0	0	960,000	2,095,588
warrants exercised into common stock
collection of loan denominated in bitcoin
issuance of loan denominated in bitcoin
gain on sale of assets, net of disposals
realized and unrealized losses on digital currencies held in fund
impairment of digital currencies															19,551,254
stock based compensation															9,275,352	8,450,675	96,617,792	4,685,966	51,031,595	146,410	360,211	648,750	23,238	313,652	207,555	130,295	282,180	929,248	39,053	127,857	329,525	453,629	183,356	41,424	1,541,615	511,764	550,436	528,670				862,317
amortization of bond issuance costs															970,886
digital currencies															-51,868,867	-60,330,785	-51,707,483	-29,321,856	-9,152,816	-2,643,611	-835,184	-403,972	-474,676	-277,052	-321,716	-355,765	-230,694	-397,329	-236,574	-661,917	-199,582
purchase of digital currencies in fund
supplemental cash flow information:
interest paid
options exercised into common stock																0	0	1	2
digital currencies transferred from fund
unpaid proceeds from sale of property & equipment
change in fair value of warrant liability																821,061	-168,667	-1,196,004	1,591,896	290,937	21,875	6,563	-9,787	-33,987	-68,551	38,570	37,734	-106,041	-45,595	-94,629	-1,453,257
change in fair value of investment securities															5,541,642	-15,013,271	-41,850,203	114,907,879	-131,822,950
amortization of right-of-use assets															26,132	0	0	183,704	16,597	24,654	20,215	28,003	24,114	15,238	23,343	22,464	21,795
lease liability															-16,704	0	0	-102,895	-18,701		-17,144	-29,371	-24,365	-5,841	-23,035	-22,231	-21,441
advances to vendor															-192,390,625
purchase of investment securities																0	0	0	-150,000,000
proceeds from issuance of common stock/at-the-market offering															88,127,270	-17	0	-2,335,157	327,103,650	200,205,262	22,695,133	6,659,712	401,891	172,440
offering costs for the issuance of common stock/at-the-market offering															-2,654,290	-21	1	2,335,157	-14,906,805	-6,106,201	-709,157	-237,823	-16,774	-6,763
net increase in cash and cash equivalents															-150,010,688	235,667,927	-137,761,755	-41,318,239	70,611,310	124,070,666
cash and cash equivalents — beginning of period															268,522,019	0	0	0	141,322,776		0	0	692,963	0	0	0	2,551,171	0	0	0	14,948,529
cash and cash equivalents — end of period															118,511,331	235,667,927	-137,761,755	-41,318,239	211,934,086		16,476,991	300,573	474,546	-650,022	-345,441	-276,058	1,964,484	-637,609	-1,043,831	-1,135,352	5,367,963
depreciation																6,869,373	4,321,715	2,919,872	720,142	1,195,077	787,689	499,489	510,781	511,221	137,361	137,361	137,361	598,548	598,549	574,592	232,006	24,858	948	471	3,780	1,058	1,652	1,910	3,758	1,869	1,876	2,833
amortization of patents and website																17,794	17,793	17,795	17,794	17,794	17,794	17,794	17,794	17,795	17,794	17,794	17,794	17,795	18,308	17,794	12,120		1,345,846	705,958	6,018,196	1,961,411	2,025,899	2,313,434
amortization of leasehold improvements																1,034
deferred tax liability																																			-638,268	-199,027	-76,463		-509,207	-161,984
loss on conversion of debt
impairment of mining equipment
impairment of leasehold improvements
realized gain on sale of digital currencies																-3,088	-7,636	-989	54	0	-11,206
change in fair value of mining payable																				0	0	0	66,547
gain on ppp loan forgiveness																0	0
impairment of cryptocurrencies																11,080,241	6,731,891	11,078,660	662,199
bad debt allowance																												0	0	0	6,826
change in prepaid service contract
accrued interest on bond payable
interest received from digital currencies, restricted
purchase of safe investments
deposits for the purchase of mining servers																-297,454,530	-81,675,575	7,286,451	-63,221,724
proceeds received on issuance of notes payable																					0
proceeds from issuance of convertible debt, net of agent’s discount
other offering costs
proceeds from line of credit
repayment from line of credit
proceeds from issuance of common stock and warrant																				0
par value adjustment due to reverse split																								0	0	0	1
warrants exercised into common shares																												0	0	0	55,791
restricted stock issuance																												0	0	5	39
adjustments to reconcile net loss to net cash used in operating activities:
loss on cancellation of lease																			80,809
proceeds received on exercise of warrants																			160,164	459,574
operating lease liability
proceeds received on sba ppp notes payable
cash and cash equivalents — beginning of year
cash and cash equivalents — end of year
common stock issued for long-term service contract
accounts receivables																							-117,811
deposit for purchase of the miners																					-9,074,470
mining servers payable																								-830,915
net decrease in cash and cash equivalents																						300,573	-218,417	-650,022	-345,441	-276,058	-586,687		-1,043,831	-1,135,352	-9,580,566
realized loss on sale of digital currencies																							4,222	-22,884	11,236	-25,052	608	78,952	68,313	3,710	1,510
gain on partial extinguishment of mining payable
amortization of debt discount																												0	0	345,256	1,944,772
break-up fee - issuance of shares to gbv
litigation liability																												0	0	0	-2,150,000
acquisition of patents																												0	0	0	-250,000				-3,552,656						-966,032		-1,700,000	-1,100,000
effect of foreign exchange rate changes																												0	0	0	15
supplemental cash flow information
cash paid for interest expense
cash paid during the year for income taxes
conversion of series e preferred stock to common stock																												0	194	0	357
common stock issued for acquisition of patents																												0	0	0	960,000
common stock issued for purchase of assets																								830,914
loss on sale of companies
gain on debt extinguishment
gain on extinguishment of warrant liability
gain on fortress loan extinguishment
impairment of intangible assets																																1,770,471			6,525,273	620,695	373,195
impairment of goodwill																																			83,000						0
warrants exchanged for common stock
change in fair value of clouding earnout																																-713,812		-13,879	-2,122,198	-169,172	1,342
non-controlling interest																																	-155,286	-70,636	-27,918												0	-10,395
other non current assets																																	1,203	1,203			2,069
purchase of digital currencies
payment on note payable																																			-578,804												0	0	0	-930,000
proceeds received on private placement
proceeds from warrant purchase
issuance of series d preferred stock
conversion of series b preferred stock to common stock
conversion of series d preferred stock to common stock
warrants converted to series e preferred stock
warrants reclassed to equity
beneficial conversion feature																																0
common stock issued fro account payable
non-cash interest, discount, and financing costs																																	59,607	52,733	952,231	58,492	605,690
break-up fee -issuance of shares to gbv
other non-cash adjustments																																	-120,703	67,164	96,996	-71,292	-33,607	274,182	14,980	83,148	48,872
proceeds from sale of digital currencies																													630,609	273,461	120,470
disposal of patents
revenue share liability incurred in conjunction with note payable																																	225,000						1,000,000
warrant issued in conjunction with common stock issuance																																	257,957
change in fair value of digital currency																														67,516	9,557
bonds posted with courts																																	-375,603	-351,647	883,695	-878,415	359,960
amortization of patents
deferred tax asset																																			531,757	5,482,275	-1,934,419			-2,335,116	174,594
loss on sale or disposal of subsidiaries
gain on payable settlements
change in warrant liability
warrant expense from warrant exchange to common stock
revenue share liability
allowance for doubtful accounts																																			12,226
other non-current assets
conversion of series b preferred stock
conversion of series d preferred stock
warrants exercised / reclass to equity
discount of note payable
common stock issued for account payable
note payable issuance in conjunction with the acquisition of patent
cash flows from operating activities:
warrant liability
stock issued for services																																			136,000			161,000	750,334	750,334
noncontrolling interest
net cash and restricted cash from operating activities
cash flows from investing activities:
purchase of property, equipment, and other intangible assets																																	-4,194	-2,097	-8,387	-4,194	-2,097		-20,668		-28,060
cash flows from financing activities:
payment on note payable in connection with the acquisition of medtech and orthophoenix																																			-2,953,779				-4,200,000	-3,000,000
payment on fortress note payable																																		-4,500,000		-2,789,254	-1,184,600
payment on 3d nano license note payable
cash received upon issuance of equity																																	3,753,063
issuance of warrants																																	137,334	132,427
issuance of convertible notes payable
medtronic note payable																																	600,000
payment of medtronic note payable
payments on seimens notes payable																																		-1,000,000
payments on notes payable to vendors																																	-125,000	-25,000
payments on notes payable																																	-103,000	-103,000
net cash provided (used in) by financing activities																																		167,292	-8,911,688		-1,248,440
effect of exchange rate changes on cash																																	4,416	-1,556	-1,592	-2,752	2,607		3,545
net decrease in cash																																		-4,504,862	-1,260,201
cash at beginning of period																																	4,998,314	4,998,314	2,555,151	0	2,555,151	0	5,082,569		0	3,610,261	0	0	0	2,354,169		0	0	129,152
cash and restricted cash at end of period
supplemental disclosure of cash flow information:
cash paid for:
interest expense																																	456,917	333,608	1,391,567	785,915	401,159			317,821
taxes paid																																	17,242		36,218	19,683	7,999		14,662	8,260
cash invested in 3d nano
supplemental disclosure of non-cash investing and financing activities:
note payable issued in conjunction with the acquisition of munitech patents
note payable issued in conjunction with the acquisition of ge patent
note payable issued in conjunction with the acquisition of 3d nano license
change in fair value of clouding earn out																																	-13,879
net cash from (used in) operating activities																																	-7,115,212	-4,668,501
payment on 3dnano license note payable																																	-100,000
3dnano convertible notes payable																																	50,000
payments on siemen’s notes payable																																	-1,000,000
net cash from (used) in by financing activities																																	3,212,397
net increase (decrease in) in cash																																	-3,902,593
cash at end of period																																	1,095,721	493,452	1,294,950	5,738,389	1,420,390	-853,688	1,487,242	9,477,969	-474,015	6,498,035	-2,254,126	-526,905	3,474,817	2,916,476		-1,789,495	-690,950	4,006,244
cash invested in 3dnano																																				0	115,000
convertible debt warrant repricing																																				0	6,425
adjustments to reconcile net loss to net cash from (used in) operating activities:
cash received upon issuance of common stock																																		1,262,865
proceeds from fortress note payable																																		4,500,000
payments on 3d nano notes payable, gross																																		-100,000
provision for allowance for doubtul accounts
loss on debt extinguishment
payment on note payable in connection with the acquisition of orthophoenix
payment on note payable in connection with the acquisition of sarif																																							-276,250	-276,250
payment on note payable in connection with the acquisition of ip liquidity																																							-1,109,375	-1,068,750	-278,125	-937,500
payment on note payable in connection with the acquisition of dynamic advances																																							-2,624,375	-905,000
payment on mdr escrow tli
cash received upon issuance of notes payable																																						0	19,600,000
repayment of notes payable																																			-5,379,105
cash received upon exercise of warrants																																								18,750
repayment of convertible notes payable
net increase in cash																																							-3,595,327	4,395,400	-474,015	2,887,774	-2,254,126	-526,905	3,474,817	562,307	828,370	-1,789,495	-690,950	3,877,092
loan fees																																							400,000	400,000
common stock issued in conjunction with note payable																																						0
warrant issued in conjunction with note payable
note payable issuance in conjunction with the acquisition of ge patent																																			1,000,000
non-cash interest increase in debt assumed in the orthophoenix acquisition
common stock issued in conjunction with debt exstinguishment
note payable issuance in conjunction with the acquisition of seimens patent
note payable issuance in conjunction with the acquisition of 3d nano license
conversion of ap to notes payable
net loss attributable to marathon patent group, inc common shareholders																																			-2,261,542
loss on debt exstinguishment
common stock issued in conjunction with debt extinguishment																																						0
note payable issuance in conjunction with the acquisition of bato patent
note payable issuance in conjunction with the acquisition of siemens patent																																			1,755,635
note payable issuance in conjunction with the acquisition of 3dnano license																																			200,000
conversion from ap to np
note payable issuance in conjunction with the acquisition of munitech patents
note payable issuance in conjunction with the acquisition of bato patents
payment on convertible debt
cash received upon issuance of note payable, net of 400,000 loan fee
cash received upon exercise of warrant																																						0	18,751		111,000	138,222
payments of notes payable to vendors																																					-63,840
net increase (decrease) in cash																																					-1,134,761
provision for allowance for doubtful accounts
deemed series a dividend beneficial conversion
income tax benefit
payable
payments on earn-out connected to the acquisition of clouding
cash received upon the issuance of convertible debt securities
proceeds from sale of preferred and common stock, net of issuance costs																																									0
payment in connection with the acquisition of clouding
net cash provided by financing activities
warrants issued in conjunction with note payable																																							318,679
revenue share liability incurred in conjuntion with note payable
non-cash interest increase in debt assumed in conjunction with the acquisition of orthophoenix																																						0
conversion of accounts payable to notes payable
common stock issued in connection with the acquisition of clouding corp																																									0
earn-out liability in connection with the acquisition of clouding corp																																									-3,667,000
common stock granted in connection with the acquisition of tli communications, llc																																									0
series b preferred stock issued in connection with the acquisition of dynamic advances llc
series b convertible preferred stock issued in connection with the acquisition of dynamic advances llc and ip liquidity ventures, llc
common stock issued in connection with the acquisition of selene communication technologies																																									0
value of warrants pertaining to equity issuance																																									0	11,595
value of warrants pertaining to convertible debt issuance
notes payable issued in connection with the acquisition of ip liquidity ventures, llc, dynamic advances, llc, selene communications technologies, llc, clouding corp, and medtech companies
issuance of common stock issued for prepaid services																																												0
amortization of expenses connected to equity to be issued for services
net reversal of expense related to forfeiture of unvested stock
income tax payable
impairment of patent
non-cash interest, discount, financing costs
change in fair value of clouding earn-out
non-cash other income																																									0						0	0	0	-125,000
net cash (used in) investing activities
payment on assumed note payable in connection with the acquisition of orthophoenix																																							-5,000,000	-3,750,000
payment on assumed note payable in connection with the acquisition of medtech and orthophoenix
payment on mdr escrow																																							-50,000
repayment on notes payable to vendors
effect on exchange rate in changes on cash
taxes
fortress note issuance costs
series b convertible preferred stock issued in connection with the acquisition of dynamic advances llc
series b convertible preferred stock issued in connection with the acquisition of ip liquidity ventures, llc
notes payable issued in connection with the acquisition of ip liquidity ventures, llc, dynamic advances, llc, selene communication technologies, llc, and clouding corp
common stock issued for prepaid services
revenue share liability incurred in conjunciton with note payable
note payable issued in conjunction with bato patents
conversion of accounts payable to note payable
non-cash equity compensation																																							1,413,724	685,753
non-cash interest, discounts and financing costs																																							1,625,322	613,719
deferred tax assets																																							-5,307,139
impairment of ip																																							766,498
change in fair value of clouding ip earn out																																							-2,304,301
proceeds received from sale of preferred stock /common stock, net of issuance costs
conversion of ap to note payable																																							705,093
repayment on convertible notes																																							-5,050,000	-5,050,000
interest expenses and loan fees																																							805,106
series b preferred stock issued in connection with the acquisition of dynamic advances, llc																																										1,403,690
series b preferred stock issued in connection with the acquisition of ip liqudity ventures, llc
common stock issued in connection with the acquisition of selene communication technologies, llc																																										980,000
notes payable in connection with the acquisition of dynamic advances, llc, ip liquidity ventures, llc, and selene communication technologies, llc
common stock issued in conjunction with notes payable																																							1,000,000	1,000,000
non-cash interest increase in debt assumed in the acquisition of orthophoenix																																							750,000
notes payable issued in conjunction with acquisition of bato patent																																							10,000,000
amortization of intangible assets and website																																								2,598,461
prepaid expenses																																								26,248			-9,429	14,586	14,747	9,667			17,255	-88,855
purchase of property, equipment and other intangible assets																																								-37,147
cash received upon issuance of notes payable, net of 400,000 loan fee																																								19,600,000
effect of exchange rate changes in cash																																								8,852
cash at beginning of year																																								5,082,569
supplemental disclosure of non-cash investing and financing activities
warrants issued in conjunction with notes payable																																								318,679
revenue share liability incurred in conjunction with notes payable																																								1,000,000
non-cash revenue																																											-700,000	0
realized loss - available for sale
gain on sale of assets of discontinued operations
assets of discontinued operations - current portion																																											0	0	53,395	28,750	-82,145	0
acquisition of cyberfone
proceeds received from sale of marketable securities
sale of real estate property																																											0	0	234,838	817,482
capitalized cost related to improvements of real estate property																																											0	0	-4,750	-12,000	-90,800
payable in connection with the acquisition of tli
proceeds from a note payable in connection with the acquisition of cyberfone systems, llc
payment on note payable in connection with the acquisition of cyberfone systems, llc																																												0
payment on note payable in connection with the acquisition of medtech
payment on note payable in connection with the acquisition of clouding
payment on earn-out connected to the acquisition of clouding
cash received upon issuance of convertible debt securities
interest expense and loan fees
common stock issued in connection with the acquisition of cyberfone systems, llc																																											0	0
common stock issued for the acquisition of patents
notes payable issued in connection with the acquisition of ip liquidity ventures, llc, dynamic advances, llc, selene communication technologies, llc, clouding corp, and medtech companies
series b preferred stock issued for services
acquisition of patents in connection with a non-cash settlement																																											700,000	0
the accompanying notes are an integral part to these audited consolidated financial statements.
stock based compensation relating to warrants																																										20,788
amortization of prepaid expenses in connection with the issuance of common stock issued for prepaid services																																										351,878
common stock issued for services																																											-598,730	94,100			123,287	0	0	75,000
purchases of patents																																										-5,100,800
proceeds received from the sale of real estate property
acquisition of cyberfone systems, llc																																												0
proceeds received from sale of preferred stock / common stock, net of issuance costs																																										6,388,266
series b preferred stock issued in connection with the acquisition of ip liquidity ventures, llc																																										1,403,690
notes payable issued in connection with the acquisition of dynamic advances llc, ip liquidity ventures, llc, and selene communication technologies, llc																																										6,000,000
net loss attributable to marathon patent group, inc.																																											-1,098,980	-935,320	-810,499	-605,536
amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services																																											147,522
stock based compensation on warrants
stock based compensation on options granted																																											432,988	283,467	235,046	170,911	60,538
stock based compensation on common stock issuances
non-cash loss -securities available for sale
non-cash other loss
gain on sale of assets- securities available for sale
realized loss - securities available for sale
impairment of mineral rights																																															0	0
impairment of assets of discontinued operations																																															0	0
assets of discontinued operations - long term portion																																															0	0
increase in other comprehensive income
acquisition of mineral rights																																															0	0	0	-325,000
note receivable - related party																																															0	-14,650
collection on note receivable - related party
proceeds received from the sale of marketable securities																																											0
acquisition of real estate property																																															0	-1,112,611
proceeds from the issuance of a note in connection with acquisition of patents
payment on note payable - related party																																															0	0	0	-152,974
payment on note payable in connection with the acquisition of patents
payment in connection with the cancellation of stock and rescission agreement																																															0	0
proceeds from disgorgement of former officer short swing profits
proceeds from sale of common stock, net of issuance costs																																											25,000	697,596			743,000	0	0	5,768,965
issuance of common stock for advances payable																																															0	0	0	100,000
assumption of prepaid assets upon exercise of option agreement																																															0	0
assumption of accounts payable upon exercise of option agreement																																															0	0
issuance of a note payable in connection with an option agreement																																															0	0	-70,000	1,000,000
issuance of common stock in connection with an option agreement																																															0			5,000,000
amortization expense																																												384,977	458,133	17,547
depreciation expense																																												833	833	278
stock based compensation on warrants granted																																												22,866	22,867	49,197	62,362	62,362	62,363	2,536,075
proceeds from advances payables
proceeds from promissory note - related party
issuance of a note payable to a related party in connection with the purchase of mining rights
amortization of prepaid expense in connection
with the issuance of common stock issued for prepaid services
realized loss other than temporary decline - available for sale
issuance of a note payable to a related party in connection with
the purchase of mining rights
cash at end of year
net loss attributable to american strategic minerals corporation																																																-1,892,895

Marathon Digital Holdings, Inc(NASDAQ:MARA)

Marathon Digital Holdings, Inc
(NASDAQ:MARA)