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Marathon Digital

All articles tagged with #marathon digital

cryptocurrency1 year ago•2 min saved

MicroStrategy's Bitcoin Bet Pays Off as BTC Surges Past $80K

Bitcoin has reached a new all-time high of $80,772, prompting reactions from key figures in the cryptocurrency space. Former MicroStrategy CEO Michael Saylor celebrated the milestone by sharing a music track that emphasizes Bitcoin's dominance. MicroStrategy's Bitcoin holdings are now valued at over $20.3 billion. Meanwhile, Marathon Digital CEO Peter Thiel criticized German officials for selling their Bitcoin holdings earlier this year, missing out on significant profits. The surge highlights the ongoing interest and investment in Bitcoin by major companies.

via U.Today|

#bitcoin #cryptocurrency #marathon-digital

financestock-market1 year ago•1 min saved

Marathon Digital's Profit Swing Fails to Boost Stock Amid Bitcoin Surge

Marathon Digital Holdings Inc. stock fell 6.7% in after-hours trading despite swinging to a profit in the fiscal fourth quarter, with net income of $151.8 million and revenue of $156.8 million, driven by a surge in bitcoin prices. The company plans to grow its hash rate to about 35 to 37 exahash by 2024 and to 50 exahash by the end of 2025, with orders for 22 exahash of miners already placed and options to add an additional 23 exahash.

via MarketWatch|

#bitcoin #cryptocurrency #earnings

cryptocurrency1 year ago•3 min saved

Bitcoin Surges Past $50,000, ETF Momentum Grows

Bitcoin surged to its highest price since December 2021, surpassing $50,000 for the first time in over two years, triggering a rally for cryptocurrencies and related stocks. Ethereum also reached four-week highs, while Coinbase stock and bitcoin ETFs saw significant gains. Analysts believe that upcoming events like the halving event in April and increased institutional participation, driven by the ETF launch, will continue to drive bitcoin's performance in 2024.

via Investor's Business Daily|

#bitcoin #coinbase #cryptocurrency

cryptocurrency2 years ago•1 min saved

Marathon Digital Expands Bitcoin Mining Operations with $179M Acquisition

Bitcoin miner Marathon Digital plans to acquire two mining sites for $178.6 million in cash from subsidiaries of Generate Capital, aiming to reduce mining costs ahead of the upcoming reward halving in April 2024. The acquisition will add 390 megawatts of capacity and is expected to lower the cost per coin mined by approximately 30%. Marathon's move to acquire smaller firms is part of its strategy to capitalize on industry consolidation and achieve economies of scale. The company currently holds over $800 million in cash and bitcoin.

via CoinDesk|

#acquisition #bitcoin #cryptocurrency

stock-market-analysis2 years ago•0 min saved

Cramer's Lightning Round: Plug Power gets unplugged

Jim Cramer, host of CNBC's "Mad Money," expressed his lack of confidence in Plug Power due to its consistent failure to meet quarterly expectations. However, he showed optimism towards Super Micro Computer, a company involved in supercomputing and a derivative of Nvidia. Cramer also praised InterDigital as a premier digital wireless company with undervalued stock prices. Regarding Marathon Digital, he advised caution, suggesting that investors who want exposure to Bitcoin should directly own the cryptocurrency. Lastly, Cramer mentioned MP Materials without providing specific commentary.

via CNBC|

#interdigital #marathon-digital #mp-materials

cryptocurrency2 years ago•1 min saved

Marathon Digital Holdings Partners with Fidelity Digital for Bitcoin Custody and Diversification

Bitcoin miner Marathon Digital plans to diversify its bitcoin custody by adding Fidelity Digital Asset as a second custodian, in an effort to mitigate risk. Marathon currently custodies all its bitcoin with a single provider but aims to expand further and add more custodians. The decision comes after recent hacking incidents targeting custodians, highlighting the importance of secure storage for digital assets. Marathon's stock rose 1.3% in post-market trading, and the company has seen a 116% increase in its stock price this year, outperforming bitcoin's 71% climb.

via CoinDesk|

#bitcoin #cryptocurrency #custody

cryptocurrency2 years ago•1 min saved

Crypto Chaos: SpaceX News and Short Positions Trigger Bitcoin Dive

Bitcoin experienced a sharp decline after it was revealed that Elon Musk's SpaceX had sold all of its Bitcoin holdings, following a write-down of its value in 2021 and 2022. This news also caused a retreat in Bitcoin-related stocks such as Coinbase, Marathon Digital, and Riot Platforms. The Bitcoin price dropped to $25,392.05 before rebounding to around $26,600, representing a 7% decrease in 24 hours. The cryptocurrency had already been facing pressure from a strong dollar and risk-off trading.

via Investor's Business Daily|

#bitcoin #coinbase #cryptocurrency

business2 years ago•1 min saved

Marathon Digital's Q2 Loss Narrows, Revenue Surges with Record Bitcoin Mining

Marathon Digital, one of the largest bitcoin miners in North America, reported a Q2 adjusted loss per share of $0.13 on revenues of $81.8 million, missing analyst estimates. The company gained $23.4 million from the sale of bitcoin and benefited from lower impairment charges. Marathon also filed an 8-K stating the need to restate cash flow figures for Q1. Despite the earnings miss, Marathon remains the world's largest publicly traded bitcoin miner by self-mining hashrate.

via CoinDesk|

#bitcoin-mining #business #marathon-digital

cryptocurrency2 years ago•1 min saved

Crypto Market Rebounds with Bitcoin's Rise Above $30K and Altcoins Heating Up.

Shares of crypto-related companies such as Marathon Digital, Riot Blockchain, and Coinbase are trading higher as Bitcoin bounces back and continues to move higher following a recent pullback. Bitcoin crossed the $30,000 mark for the first time since June 2022 last week, which helped spark upward momentum in several cryptocurrencies. If Bitcoin breaks through its highs from the weekend around $31,000, it could see another strong push higher. Marathon Digital is engaged in mining digital assets, Riot Blockchain is a Bitcoin miner, and Coinbase is the leading cryptocurrency exchange platform in the United States.

via Benzinga|

#bitcoin #coinbase #cryptocurrency