Marathon Digital Holdings Inc (MARA)

[patentminer2013]

There were a few items I had not thought about. Like the Baker Hughes addition and every year adding more. The real key is this is different than previous licensing. Here they take the entire portfolio and offer you a license not just one patent.



Topic Prospects for 2017
Marathon is engaged in numerous negotiations and discussions with potential licensees of its patent
assets. We see the best prospects for material revenue generation in 2017 coming from its GE oil & gas
portfolio, the Siemens patents and Dynamic Advances. Marathon's asset base and opportunity for
patent monetization has never been greater, with Marathon having increased its patent assets to about 12k
by the end of 2016 v. 325 at the start.
The GE patents are extensive and comprehensive. We believe Marathon has the right to monetize about
11.5k GE patents. The number of patents grows every year as well given GE continues to add to the
portfolio. Not only is the number large, but the patents cover numerous areas of the oil and gas technology
eco-system. The patents cover a variety of areas such as infrastructure technology to identify oil and gas
resources, extraction, transportation, under water drilling and terrestrial activity. GE is also supposed to close
the Baker Hughes acquisition in June, and that could add several thousand more patents to the portfolio.
We believe Marathon is encouraged that it can negotiate a license settlement for the portfolio given the
comprehensive nature of it and large revenue bases that infringe the patents. We believe Marathon has
over 10 large entities it can approach or has approached to license the patents.