Why Bitcoin-Linked Stock Marathon Digital Is Falling After Hours

Why Bitcoin-Linked Stock Marathon Digital Is Falling After Hours

Marathon Digital Holdings Inc MARA shares are trading lower in Thursday's after-hours session after the company provided a Bitcoin BTC/USD production and mining update.

Marathon Digital said it produced 707 Bitcoin in the second-quarter, representing an increase of 8% year-over-year, despite significant headwinds.

The company said Bitcoin production was impacted by energization delays in Texas, maintenance to its facilities and a severe storm which caused one of its mining locations to go offline. However, year-to-date production was up 132% over the same period in the prior year.

Marathon Digital now holds 10,055 Bitcoin directly and finished the month with $88.7 million in cash and $153.7 million in total available liquidity.

Marathon is a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem.

See Also: Why GameStop Stock Is Falling After Hours

MARA Price Action: Marathon Digital has traded between $83.45 and $5.20 over a 52-week period.

The stock was down 3% in after hours at $6.80 at press time.

Photo: VIN JD from Pixabay.

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