As per the latest reports, Marathon Digital Holding (MARA) has reportedly experienced a surge in its stocks. The surge in the holdings’ stocks was experienced on Monday, April 5, 2021, when the firm had made a huge announcement.
According to reports, the announcement that Marathon Digital Holding (MARA) made was related to increases in its mining capacity. The firm revealed that it had successfully increased its mining capacity in the first quarter of the year 2021.
This resulted in the firm gaining significant growth in the Bitcoin (BTC) sector. The firm has revealed that ever since the surge, it has introduced a considerable margin following the increase in stakes for Bitcoin (BTC).
As per the on-chain data analyzing firms, the price of MARA stock has experienced a 15.8% surge and it is currently trading around $56.56. For MARA, this is reportedly the all-time high that the stock price has experienced ever since its launch.
The firm has also revealed that the stock for cryptocurrency mining has experienced a 17.1% increase in the last 24-hours.
On the other hand, Nasdaq Composite, which is a technology-focused index has experienced a surge of 1.7% in the same period. Then there is the Crypto Index Fund of Bitwise 10, which has experienced an increase of 1.9%.
Taking the current stock price surge into consideration, the total market capitalization of Marathon Digital is currently sitting at $5.6 billion. This has placed Marathon Digital among the cryptocurrency proxy stocks that are currently the largest in the crypto-industry.
Marathon Digital Holdings (MARA) has revealed that in the first quarter of the year 2021, it successfully mined a total of 196 BTC. After mining 196 Bitcoin (BTC), the company now has increased its Bitcoin (BTC) holding to 5,134.2 BTC.
Marathon Digital Holdings (MARA) has made the announcement regarding the accumulation of its BTC on Monday, April 5, 2021. At the time of writing, the total holdings that Marathon Digital Holdings (MARA) has is a total of $302 million.
Apart from mining Bitcoin (BTC), MARA is also involved in the acquisition of Bitcoin (BTC). MARA had reportedly acquired 4,812.66 BTC back in the month of January 2021. The firm revealed that it acquired the 4,812.66 BTC at an average price of $31,168.
In addition to the acquisition of Bitcoin (BTC), MARA also announced in January that it had ramped up a huge number of Bitcoin (BTC) miners. The firm reportedly increased its mining capacity after acquiring a large number of S-19 Pro ASIC miners. According to sources, MARA had acquired a total of 10,300 miners after striking a deal with Bitmain.
The company also revealed that it had $212 million as cash on hand as the 1st quarter of the year 2021 came to an end.