Marathon Patent shares (MARA) rises 6.2% in premarket, after it executed a Letter of Intent to acquire Fastblock Mining for ~8.7M shares.Once the transaction closes, the Company’s cost to mine Bitcoin will decline from $7,400 to $3,600/Bitcoin due to the lower than industry-standard electricity cost of $0.0285 per KwH.Marathon will also acquire 3,304 ASIC Miners from Fastblock’s customers which will increase its deployed ASIC’s from 2,060 to 5,364 Miners and immediately add 208/Ph of Hashing capacity to current Hashrate of 186/Ph, increasing current Hashrate to 394/Ph.Fastblock Mining was established in 2014, and has managed Mining as a Service (MaaS) business and built/managed 20 data centers having mined over 50,000 Bitcoins.Bernardo Schucman, Fastblock's CEO and Co-Founder will stay on with the combined Company and become Head of Mining Operations.The Company will immediately begin expansion of the current power capacity in the Atlanta, Georgia facility from of 15MwH to 45MwH. The facility may be expanded up to a maximum
