Bitcoin Mining Revenue Tanks To An 11-Month Low In August, Industry Bellwether Marathon Digital Shares Sank Over 13% In The Month
Portfolio Pulse from Aniket Verma
Bitcoin mining revenue fell to an 11-month low in August, with miner earnings dropping 10% from July. Marathon Digital Holdings, a major player in the industry, saw its shares decline by over 13% during the month. The revenue drop is attributed to Bitcoin's price fall and reduced hash price.
September 03, 2024 | 5:55 am
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Marathon Digital Holdings experienced a significant 13.6% drop in share price in August due to declining Bitcoin mining revenues and Bitcoin's price fall.
Marathon Digital Holdings is directly impacted by the decline in Bitcoin mining revenues, as it is a major player in the industry. The 13.6% drop in its share price reflects the market's reaction to the reduced profitability in Bitcoin mining due to lower Bitcoin prices and hash rates.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90