Marathon Digital Stock Soars

Marathon Digital Stock Soars

On Monday, cryptocurrency miner, Shares of Marathon Digital Holding revealed a distinctive increase in mining capacity, in its first quarter  and which permits it, on a considerable margin to stake Bitcoin.

Making a new time all high, the stock of Mara increase from 15.8% to close at $56.56  and of which earlier in the day, crypto mining stock rose by as much as 17.1%.

There was an increase in the technology-focused Nasdaq Composite index by 1.7% on Monday while the there was an advancement in the Bitwise 10 Crypto Index Fund.

Putting it among the largest crypto proxy stocks, Marathon Digital has a total market capitalization of $5.6 billion at current values.

A total of 5, 134.2 BTC  was mined by Marathon by March, in which in they mined about 196 in the first quarters. The Bitcoin held by Marathon are currently at $302 million

In addition to mining the digital asset, Marathon purchased 4,812.66 BTC in January at an average price of $31,168.

The company was able to scale up its mining operations in the first quarter after receiving 10,300 S-19 Pro ASIC miners from Bitmain. Marathon’s mining fleet now consists of 5,800 miners collectively generating 0.71 exahashes per second in hashing power.

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