Marathon Digital Shares Weekly Recap: Strong Bitcoin Production and Increased Hash Rate Drive 5% Stock Surge
Portfolio Pulse from Vaishali Prayag
Marathon Digital Holdings (NASDAQ:MARA) reported a 5% increase in Bitcoin production for September, mining 705 Bitcoins. The company's hash rate rose to 36.9 EH/s, with a goal of 50 EH/s by the end of 2024. MARA shares surged 5.53% amid significant options activity.
October 04, 2024 | 7:08 pm
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Marathon Digital Holdings reported a 5% increase in Bitcoin production and a rise in hash rate, leading to a 5.53% stock surge. The company is on track to reach a hash rate of 50 EH/s by 2024, reflecting its operational scaling and optimization efforts.
The increase in Bitcoin production and hash rate indicates strong operational performance, positively impacting MARA's stock price. The company's strategic focus on scaling operations and optimizing data centers further supports this positive outlook.
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