Why Marathon Digital Stock Is Seeing Blue Skies

Marathon Digital Holdings Inc MARA shares are trading higher by 3.5% to $10.14 Monday morning amid an increase in the price of Bitcoin.

Marathon Digital Holdings is involved in Bitcoin mining. It operates mining facilities that validate and secure Bitcoin transactions in exchange for newly minted Bitcoin and transaction fees.

As the price of Bitcoin increases, the revenue generated by Marathon Digital from its mining operations can also increase. This can lead to higher profitability and positive investor sentiment, which can drive up the company's stock price.

What's Going On With Crypto?

Traders and investors are now eagerly anticipating the outcome of the upcoming Federal Reserve’s Federal Open Market Committee (FOMC) meeting, slated for September 20.

The FOMC meeting holds great significance for the market, as it will determine benchmark interest rates. Market sentiment indicates a widespread expectation for rates to remain unchanged...Read More

According to data from Benzinga Pro, MARA has a 52-week high of $19.88 and a 52-week low of $3.11.