Skip to main content

Market Overview

Why Bitcoin-Related And Ethereum-Related Stock Marathon Digital Is Falling

Share:
Why Bitcoin-Related And Ethereum-Related Stock Marathon Digital Is Falling

Marathon Digital Holdings Inc (NASDAQ: MARA) shares are trading lower after the company reported third-quarter earnings results.

Marathon Digital reported quarterly earnings of 85 cents per share and reported $51.70 million in sales this quarter. This represents a marked increase over sales of $835,180 in the same period last year.

"In the third quarter, we increased our hash rate to 2.7 EH/s and generated 1,252 self-mined bitcoins, which is a 91% increase from our second quarter bitcoin production," said Fred Thiel, Marathon's CEO.

"As a result, we held approximately 7,035 BTC at the end of the third quarter, and we are continuing to grow these holdings each month as we increase our hash rate and maintain our strategy to ‘hodl' the bitcoin we mine," Thiel highlighted.

See Also: Amazon 'Doubling Down' On Rivian IPO: What Investors Need To Know

Marathon Digital has a 52-week high of $83.45 and a 52-week low of $2.06.

 

Related Articles (MARA)

View Comments and Join the Discussion!

Posted-In: Fred Thiel why it's movingNews

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com