Marathon Digital Stock Soars Over 600% This Year Despite Volatility Around Bitcoin Mining Operations
• Marathon Digital stock has surged over 628% since January 2022 despite crashing from its all-time high of $166
• Price increase coincides with speculation around Bitcoin ETF approval and upcoming Bitcoin halving event
• Marathon recently spent $178.6 million to acquire two new Bitcoin mining sites, expanding to 390 megawatts capacity
• The company's Bitcoin production dropped in August due to hot temperatures and curtailment activity in Texas
• Marathon is transitioning from an asset-light business to managing a diversified portfolio of mining operations