Who is marathon digital holdings?

Marathon Digital Holdings, Inc. is a digital asset technology company, which engages in mining cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets. The company was founded on February 23, 2010 and is headquartered in Las Vegas, NV.

How many Bitcoins did marathon buy in March?

This March, it bought another 4,813 Bitcoins at an average price of $31,168 each. It continued to expand its mining fleet to 31,000 active miners at the end of November, and its total Bitcoin holdings hit 7,649.1 for a market value of $437.4 million at the end of the month. Marathon expects to expand its fleet to 133,000 active miners by mid-2022.

What happened to Marathon's revenue in 2022?

In the first six months of 2022, Marathon's revenue grew 99% year over year to $76.6 million. However, its net loss widened from $25.5 million to a staggering $204.6 million as the costs of buying and operating more miners -- which initially cost over $10,000 each -- offset its Bitcoin-related gains.

Is marathon's stock bringing back the Bulls?

Marathon's stock has rallied 20% this month. Bitcoin's stabilizing price is bringing back the bulls. The company is still bleeding a lot of red ink as its growth cools off. You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services.