Marathon: Ramping Up the Bitcoin Mining Power for Future Gains
Stocks of companies operating within the Bitcoin ecosystem have
profited from the leading cryptocurrency’s continuous rise. For
example, year-to-date, shares of Marathon Digital Holdings (MARA)
have increased by 377%. That’s peanuts, however, compared to its
trailing twelve-month gains - all 11,234% of them. No, that’s not a
typo. The thing is, Marathon isn’t even generating any revenue from
Bitcoin right now. That’s because it is hoarding all it can
accumulate, i.e., it expects Bitcoin’s price to further increase.
The company released a business update last week, detailing its
1Q21 production statistics. The company mined 196 BTC in Q1, of
which 102.3 were mined in March.