Why Marathon Digital Stock Is Seeing Blue Skies
Portfolio Pulse from Henry Khederian
Marathon Digital Holdings Inc's (NASDAQ:MARA) shares are trading higher by 3.5% amid an increase in the price of Bitcoin. The company, which is involved in Bitcoin mining, can see increased revenue from its operations as the price of Bitcoin rises. Investors are awaiting the outcome of the upcoming Federal Reserve’s Federal Open Market Committee (FOMC) meeting, which could impact the Bitcoin market.
September 18, 2023 | 1:59 pm
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Marathon Digital Holdings' stock is trading higher due to the increase in Bitcoin prices. The upcoming FOMC meeting could further impact the company's revenue and stock price.
Marathon Digital Holdings' revenue is directly tied to the price of Bitcoin due to its mining operations. As the price of Bitcoin increases, so does the company's revenue and, consequently, its stock price. The upcoming FOMC meeting could impact the Bitcoin market, and therefore Marathon's revenue and stock price.
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