Marathon Digital Holdings (NASDAQ:MARA) shares traded lower Monday after the Bitcoin (BTC-USD) miner reported a 13% month-over-month decline in BTC production for January 2025.
The stock fell 7.85% pre-market to $16.90, before settling at $17.18, down 6.33% as of 9:38 AM ET. The drop coincided with Bitcoin (BTC) slipping 3.43% to $95,807.3, losing $3,405.3 during the session.
Production and Performance Metrics
CEO Fred Thiel attributed the decline to network difficulty fluctuations and intermittent curtailment but noted that energized hashrate remained stable with December as no new miners were added. Marathon Digital's stock movement closely tracked Bitcoin's decline, as broader cryptocurrency market volatility continued to impact mining stocks
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