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Summary
- Stocks of cryptocurrency miner Marathon Digital Holdings (NASDAQ:MARA, MARA:US) shot up by nearly 16 per cent on Monday, April 5.
- Focused on the business of mining digital assets, Marathon Digital has been making the best of the massive bull run that Bitcoin has been on for the past year or so.
- It currently operates in the Digital Currency Blockchain segment and is headquartered in Nevada, US.
Stocks of cryptocurrency miner Marathon Digital Holdings (NASDAQ:MARA, MARA:US) shot up by nearly 16 per cent on Monday, April 5. Focused on the business of mining digital assets, Marathon Digital has been making the best of the massive bull run that Bitcoin has been on for the past year or so.
Marathon stock recorded a growth of 12,209 per cent in the last one year and that of nearly 442 per cent year-to-date.
©Kalkine Group 2021
Marathon Digital has been up and running since February 2010. It currently operates in the Digital Currency Blockchain segment and is headquartered in Nevada, US.
Let’s dive in to learn more about Marathon Digital to understand its latest stock price spike.
Marathon Digital Holdings (NASDAQ:MARA, MARA:US)
Marathon Digital describes itself as one of the top Bitcoin self-mining enterprises across North America. On Monday, the company released the latest, unaudited numbers of its bitcoin production for the first quarter of fiscal 2021.
©Kalkine Group 2021
The cryptocurrency miner reported that it produced some 196 new minted bitcoins in the first quarter ending 31 March 2021. This addition expanded its total bitcoin holdings to 5,134.2, posting a fair market value of about US$ 301.9 million, as of March-end.
Marathon Digital’s cash on hand stood at a total of US$ 212 million as of 31 March 2021, while its total liquidity was about US$ 513.9 million.
The company also reported receiving about 10,300 S-19 Pro ASIC miners in the first quarter of its fiscal 202 from Chinese company Bitmain, which provides hardware and solutions in regard to blockchain and artificial intelligence (AI) applications.
Marathon Digital also announced last week, on March 31, the signing of its strategic agreement with Vancouver-based blockchain and cryptocurrency company DMG Blockchain Solutions.
According to this deal, DMG Blockchain will be allowed to manage and offer consultation to Marathon regarding the DCMNA mining pool, which is said to be the first of its sorts to be completely in compliance with US regulations.
