Marathon Patent (MARA) gains 8.6% after completing its previously announced $200M shelf offering by using its at-the-market facility.As a result, MARA ended 2020 with $217.6M in cash and ~74.7M shares outstanding.The company plans to use the capital raise funds to pay for miners it purchased from Bitmain and to further grow its business.To date, the company has purchased 103,060 miners, which, once delivered and fully deployed, will produce ~10.36 EH/s. 15,200 of these units are scheduled to be shipped in Q1 2021; the company currently expects to install 4,000 units in February, 6,300 in March, and 4,800 in April.After initial deposits were paid, Marathon’s remaining balance due to Bitmain was $163.0M, indicating that MARA's current cash position is more than adequate to cover the costs of all miners purchased as of Dec. 31, 2020.See number of MARA shares outstanding for the past 11 quarters, ending with Q3 2020:On Dec. 28, MARA
