The Cryptos News | Daily Bitcoin News
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
The Cryptos News | Daily Bitcoin News
No Result
View All Result
Home Mining

Why Marathon Digital Stock Is Soaring Today | The Motley Fool

Why Marathon Digital Stock Is Soaring Today | The Motley Fool
Share on FacebookShare on Twitter


What happened

Shares of Marathon Digital Holdings (MARA 21.40%) soared on Friday, gaining as much as 27% in the morning’s trading session. By 3 p.m. ET, the cryptocurrency mining specialist had retreated somewhat to a 20.1% price increase. The move was powered by a couple of factors.

Marathon just reported its mining activity for June, the U.S. Department of Treasury (DOT) finally sketched out its vision for a regulatory framework in the crypto market, and Bitcoin prices briefly rose above $22,000 per coin in the early morning. It’s a mixed bag of news, but Marathon investors focused on the good tidings.

So what

Marathon produced just 707 self-mined Bitcoins in the second quarter, which ended on June 30. That figure came in 44% below the first quarter’s haul of 1,259 coins. Specifically, June’s production landed at 140 Bitcoins, down from 268 in May and 299 in April. Those numbers don’t paint a pretty picture, and Marathon’s stock dove when this report was published.

The company had some extenuating circumstances to report, though. Marathon had to wrestle with maintenance issues in its Montana-based mining plant, which also was hit by a severe storm that damaged the facility’s power supply systems. In Texas, Marathon continued to install its Bitcoin mining systems while waiting for the go-ahead from local regulators to turn on the power and start generating Bitcoins there. Meanwhile, the company is talking to alternative hosting providers, in case the authorities in Texas continue to drag their feet.

Turning to the DOT’s progress on cryptocurrency regulation, the agency delivered its proposed framework to President Joe Biden on Friday morning. This was the good stuff that pulled Marathon’s shares up to a sharply positive level.

In its report to Biden, the DOT outlined plans to work out crypto-regulation details in concert with intergovernmental policy groups such as the G7, G20, the World Bank, and the International Monetary Fund.

The announcement did not contain any firm policy ideas, but it’s still a big step toward starting the regulatory planning discussion with other major influencers on the global economic stage. That’s good news for Bitcoin, for Marathon Digital, and for essentially every nook and cranny of the cryptocurrency market.

Now what

After Friday’s jump, Marathon’s stock is back to prices not seen since early June. The company needs to address its bundle of operating issues, while the underlying Bitcoin market faces its own set of challenges with investor confidence and regulatory rule books. Given this double-layered exposure to market risks and unpredictability, it’s no surprise to see Marathon’s stock carrying one of the highest beta values on the stock market. Until Marathon gets a grip on its operating problems and settles down that jumpy stock chart, it will remain a highly speculative investment.





Read More:Why Marathon Digital Stock Is Soaring Today | The Motley Fool

Tags: DigitalFoolMarathonMotleySoaringStockToday
Previous Post

Crypto exchanges and retail brokers vie for customers as trading ardour cools

Next Post

After Bitcoin Wash Trading Surges on Binance, CEO Nixes Incentives – Decrypt

Related Posts

Public weighs in on noise from bitcoin mining operation

Public weighs in on noise from bitcoin mining operation

by The Cryptos News
July 30, 2022
0

NIAGARA FALLS, N.Y. — Frank Peller couldn’t understand what was happening outside his home.“I thought it was a 747...

Chinese Fake Loan App Racket Used Crypto, Apple, Google Questioned On Crypto Apps Review,

Cryptojacking Cases Are Rising Globally, Why So And Should This Worry You?

by The Cryptos News
July 30, 2022
0

According to the internet security company Kaspersky, cryptojacking is an act of mining cryptocurrency by hacking into someone else’s...

Chainalysis Report Says $2.2 Million in Crypto Has Been Sent to Pro-Russian Groups in

Chainalysis Report Says $2.2 Million in Crypto Has Been Sent to Pro-Russian Groups in

by The Cryptos News
July 29, 2022
0

According to a report stemming from the blockchain intelligence company Chainalysis, the firm identified 54 pro-Russian groups that have...

Prices of Ethereum’s original coin ETH soar as miners migrate ahead of Merge

Prices of Ethereum’s original coin ETH soar as miners migrate ahead of Merge

by The Cryptos News
July 29, 2022
0

Over the past two weeks Ethereum’s popular ETH coin jumped by nearly half as confidence builds over its hotly-anticipated...

Next Post
After Bitcoin Wash Trading Surges on Binance, CEO Nixes Incentives – Decrypt

After Bitcoin Wash Trading Surges on Binance, CEO Nixes Incentives - Decrypt

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trending News

Payperless Crypto Wallet announced working on NFT tokens support

Payperless Crypto Wallet announced working on NFT tokens support

June 25, 2022
June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

July 14, 2022
Exclusive: Binance served crypto traders in Iran despite U.S. sanctions, clients say

Exclusive: Binance served crypto traders in Iran despite U.S. sanctions, clients say

July 11, 2022
ADVERTISEMENT

Investment

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

July 30, 2022
Study up and become a more informed crypto investor with this bundle

Study up and become a more informed crypto investor with this bundle

July 30, 2022
Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

July 30, 2022
Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

July 29, 2022
$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

July 29, 2022

Prices

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

July 30, 2022
Tron price prediction as Unifi Protocol TVL explodes

Tron price prediction as Unifi Protocol TVL explodes

July 30, 2022
Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

July 30, 2022

Crypto Flipsider News – Crypto Market Rally; Nirvana (NIRV) Exploited; Vasil Delayed;

July 29, 2022

Trading

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

July 30, 2022
SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

July 30, 2022
Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

July 29, 2022
FTX wins full approval to operate crypto exchange in Dubai

FTX wins full approval to operate crypto exchange in Dubai

July 29, 2022
Crypto exchange Zipmex files for bankruptcy protection in Singapore

Crypto exchange Zipmex files for bankruptcy protection in Singapore

July 29, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2021 Thecryptosnews.com

No Result
View All Result
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading

© 2021 Thecryptosnews.com

wpDiscuz