MARA Holdings, a leading crypto mining company, saw its stock price plunge by 5.18% in the pre-market trading session on Friday, following a broader selloff in the cryptocurrency market.
The decline in MARA Holdings' share price is closely linked to the recent weakness in Bitcoin, the world's largest cryptocurrency by market capitalization. Bitcoin dropped below the $80,000 mark, registering a 6.44% decrease over the past 24 hours and hitting its lowest level since November 11th.
As Bitcoin and other major cryptocurrencies fell, the ripple effect was felt across the crypto-related stocks, with MARA Holdings and its peers, such as Coinbase, Riot Platforms, and CleanSpark, all experiencing significant losses during the overnight trading session.
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