Posted 12/29/2023, 8:35:00 PM
Marathon Digital Plunges 18% After Recent Crypto Mining Stock Rally
- Marathon Digital's stock fell nearly 18% on Friday, putting it on track for its worst day since January 18
- The losses come after the stock surged 112% over the past 11 days to hit its highest price since March 29
- Marathon shares are still up almost 600% so far this year, potentially heading for its best year since 2020
- The recent rally has been driven in part by optimism around a potential bitcoin ETF approval in the U.S.
- Other crypto miners like Riot Blockchain and Ebang International have also rallied sharply this year