MARA Stock Price: Marathon Digital Holdings Inc announces first quarter Bitcoin mining results
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UNLOCK OFFER- NASDAQ:MARA surged another 15.78% on Monday, outpacing the broader markets.
- Marathon Digital Holdings announces its first quarter Bitcoin mining results: 196 new Bitcoins.
- Rising fears of inflation could lead to Marathon and other Bitcoin miners to skyrocket.
NASDAQ:MARA has certainly been one of the best stocks to hold over the past year as the benchmark cryptocurrency, Bitcoin, continues to challenge new all-time highs on a regular basis. Monday saw yet another surge by Marathon, as it gained 15.78% to close the trading session at $56.56. Shares briefly touched a new 52-week high price of $57.17, before settling back down before the closing bell. Marathon has now gone from a 52-week low price of $0.38 per share, to a company with a market cap of $5.5 billion in just under one year.
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The main catalyst on Monday was that Marathon reported its first quarter Bitcoin mining results, which saw the Las Vegas, Nevada based company add 196 new Bitcoin to its holdings. Marathon’s total holdings sit at approximately 5,134 Bitcoin altogether, a pot that the company has openly said it will hold as the price of Bitcoin continues to climb. With growing concerns about some sort of Bitcoin ban coming into effect, just as a ban on gold did several decades earlier, the volatility level of cryptocurrencies and their related stocks, may be too high for more risk-averse investors.
MARA Stock forecast
As President Biden readies another stimulus package, this one estimated to top $3 trillion USD, there are rising fears that inflation could once again rear its ugly head. Despite Treasury Secretary Janet Yellen denying the chances of short-term inflation, investors are steadily streaming into alternative investment vehicles, like cryptocurrencies, as a hedge against fiat inflation. Companies like Marathon Digital Holdings should continue to reap the benefit of this, especially with additional stimulus checks on their way to retail investors, who have had a keen interest in investing in Bitcoin.
- NASDAQ:MARA surged another 15.78% on Monday, outpacing the broader markets.
- Marathon Digital Holdings announces its first quarter Bitcoin mining results: 196 new Bitcoins.
- Rising fears of inflation could lead to Marathon and other Bitcoin miners to skyrocket.
NASDAQ:MARA has certainly been one of the best stocks to hold over the past year as the benchmark cryptocurrency, Bitcoin, continues to challenge new all-time highs on a regular basis. Monday saw yet another surge by Marathon, as it gained 15.78% to close the trading session at $56.56. Shares briefly touched a new 52-week high price of $57.17, before settling back down before the closing bell. Marathon has now gone from a 52-week low price of $0.38 per share, to a company with a market cap of $5.5 billion in just under one year.
Stay up to speed with hot stocks' news!
The main catalyst on Monday was that Marathon reported its first quarter Bitcoin mining results, which saw the Las Vegas, Nevada based company add 196 new Bitcoin to its holdings. Marathon’s total holdings sit at approximately 5,134 Bitcoin altogether, a pot that the company has openly said it will hold as the price of Bitcoin continues to climb. With growing concerns about some sort of Bitcoin ban coming into effect, just as a ban on gold did several decades earlier, the volatility level of cryptocurrencies and their related stocks, may be too high for more risk-averse investors.
MARA Stock forecast
As President Biden readies another stimulus package, this one estimated to top $3 trillion USD, there are rising fears that inflation could once again rear its ugly head. Despite Treasury Secretary Janet Yellen denying the chances of short-term inflation, investors are steadily streaming into alternative investment vehicles, like cryptocurrencies, as a hedge against fiat inflation. Companies like Marathon Digital Holdings should continue to reap the benefit of this, especially with additional stimulus checks on their way to retail investors, who have had a keen interest in investing in Bitcoin.
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