BTC - If You'd Invested $1000 in Marathon Digital Holdings Stock 5 Years Ago Here's How Much You'd Have Today
2024-07-18 07:07:00 ET
The company now known as Marathon Digital Holdings (NASDAQ: MARA) wasn't always a powerhouse of Bitcoin (CRYPTO: BTC) production.
By the summer of 2019, it had dipped its first toe into the Bitcoin-mining waters, but its core business still consisted of monetizing a portfolio of acquired patents and other intellectual property. With a total market value of $22 million, Marathon's stock teetered on the edge of non-compliance with the Nasdaq stock exchange's listing rules. The former uranium miner used a 4-for-1 reverse stock split to keep its stock price above the minimum acceptable level.
At the same time, the company was about to install 6,000 high-end Bitcoin mining computers and go all-in on the crypto-mining idea. Five years later, Marathon describes itself as a manager of "unused or underutilized energy," which is put to work in Bitcoin mining operations.
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If You'd Invested $1,000 in Marathon Digital Holdings Stock 5 Years Ago, Here's How Much You'd Have Today