Shares of Marathon Patent Group Inc. , an intellectual property licensing and management company, surged more than 30% in premarket trade Monday, as bitcoin surged to a fresh high close to $10,000. Marathon is viewed as a cryptocurrency play, since it acquired mining company Global Bit Ventures Inc. in early November. “We believe the acquisition of Global Bit Ventures will take advantage of an ongoing revolution in digital transactions conducted on blockchains as we see increasing adoption and proliferation of blockchain protocols in our everyday lives,” Chief Executive Doug Croxall said when announcing the deal. Last week, the company reported results for its third quarter, that showed a narrowing of its net and operating losses. The stock has fallen 13.5% in 2017, while the S&P 500 has gained 16%.
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