Marathon Digital Holdings Inc. (MARA) stock went into the negative mode in Tuesday’s extended-trading after gaining a massive 15.76% in the morning session. In the after-hours, it lost 1.22%.
Let’s try to figure out what’s happening with MARA stock and the latest developments about it.
Marathon Digital Holdings is a digital asset technology company that mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets. MARA stock was founded in February 2010 and its headquarter is in lad vegas United states.
Launching the Bitcoin Mining pool
On March 30, 2021, Marathon Digital Holdings announced that it will be launching the first Bitcoin mining pool based in North America which will be fully compliant with U.S. regulations such as including anti-money laundering (AML) and the Office of Foreign Asset Control’s (OFAC’s) standards. It is expected that the new pool will begin accepting other U.S.-based Bitcoin mining companies from June 1, 2021.
Newly Appointed Controller
On March 18, 2021, Marathon Digital Holdings appointed William Beam to the position of Controller. Mr. Beam is a senior-level financial executive with extensive 20 years of experience in finance, accounting, administration, and development experience in SaaS industries, regulated markets, and resort & casino operations
Participation in the Investor Conference
MARA participated in the 33rd Annual Roth Conference, which held virtually in March15-17. The MARA CEO and chairman Merrick Okamoto, participated in the Crypto/Blockchain panel on Tuesday, March 16th, and had one-on-one web meetings with investors and analysts in the conference.
Increasing 1.4 EH/s production
On March 04, 2021, Marathon Digital Holdings, Inc. announced that it is going to produce approximately 1.4 EH/s (exahash per second) by the end of March.
Back on February 1, 2021, Bitmain had shipped approximately 4,000 S-19 Pro ASIC miners to the MARA’s mining facility in Hardin, MT, all of which were delivered as scheduled.
If we see in the recent past, the crypto business is booming and MARA share prices have increased by 16.04% over the past week, but are up 260.33% over prices posted in the last quarter. Going further back, the stock’s price has tanked 2085.15% over the last 6 months but is up 322.80% in year-to-date trading. So, it is expected that MARA stock price will keep going up in the near future.