Marathon Digital shares are trading lower amid a drop in Bitcoin.
Portfolio Pulse from Benzinga Newsdesk
Marathon Digital shares are trading lower due to a decrease in Bitcoin's value.
February 20, 2024 | 5:53 pm
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NEGATIVE IMPACT
Marathon Digital's stock price is negatively impacted by the falling price of Bitcoin.
Marathon Digital Holdings, Inc. is a cryptocurrency mining company, making its stock price highly sensitive to the price movements of Bitcoin. As Bitcoin's value decreases, it can lead to reduced profitability for Marathon, thus negatively affecting its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100