Home Equities Score Marathon Digital Holdings Inc (MARA) stock surging continues

Marathon Digital Holdings Inc (MARA) stock surging continues

Marathon Digital Holdings Inc (MARA) stock continuing its rally on Tuesday, April 13, 2021. As of this writing, MARA stock has gained 7.43% in the pre-market session. It gained 2.18% to close Monday’s session at $50.07. MARA shares have gained 10787.15% over the last 12 months, and they have moved down by -11.47% in the past week. Over the past three months, the stock has gained 89.73%, while over the past six months, it has added 2239.72%.

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Q1 2021 updates about Bitcoin production and mining operation

On April 05, 2021, Marathon Digital Holdings provided unaudited bitcoin production and miner installation updates for the first quarter ended March 31, 2021.

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Q1 highlights

  • As of March 31, 2021, MARA has produced 196 new-minted bitcoins in the first quarter of 2021 and holds 5,134.2 bitcoin with a market value of approximately $301.9 million.
  • MARA had $212 million cash on hand and total liquidity of $513.9 million as of March 31, 2021.
  • During the first quarter of 2021, MARA received approximately 10,300 S-19 Pro ASIC miners from Bitmain 

Technology agreement with DMG Blockchain Solutions

On March 31, 2021, Marathon Digital Holdings Incsigned a license agreement with DMG Blockchain Solutions Inc to provide technology solutions for Marathon and the new Digital Currency Miners of North America (DCMNA) pool.

DMG will provide strategic guidance technical support to manage the pool on a day-to-day basis.

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.

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Conclusion

There is no second opinion that cryptocurrency-related businesses such as mining are booming and that’s the reason behind MARA exceptional growth in the last twelve months and its continuous positive trend.

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