RIOT - What's Going On With Bitcoin-Miner Marathon Digital's Stock? | Benzinga
Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares are moving Monday. The company announced a decrease in Bitcoin (CRYPTO: BTC) production for May and Kerrisdale Capital issued a short report on Riot Platforms, Inc. (NASDAQ:RIOT) last week.
What To Know:
Marathon Digital announced on Wednesday that it produced 616 bitcoins in May, down from 850 in April and a 50% decrease from 1,245 bitcoins in May 2023. The company also said it had increased its holdings to 17,857 bitcoins.
Marathon said it energized approximately 5,000 additional miners (c. 0.7 EH/s). Approximately 9,000 miners were reinstalled at the Ellendale facility, awaiting a return to full energization. As a result, Marathon’s operating fleet increased to approximately 246,000 bitcoin miners theoretically capable of producing 30.6 EH/s, with 237,000 miners (c. 29.3 EH/s) fully operational. In May, Marathon achieved a peak overall hash rate of 28.1 EH/s.
“In May, we mitigated the impact of the April Halving event by increasing the number ...