Marathon Digital (MARA) Surges 32% as Bitcoin Rebounds

Marathon Digital (MARA) jumped 32% today, largely due to Bitcoin’s rebound. Bitcoin is up almost 19% over the last seven days.

Marathon Digital also recently announced that it has secured hosting capacity of around 200 megawatts from Applied Blockchain, to be used for MARA’s miners.

“With these new arrangements, we believe we have now secured enough hosting capacity to support our target of achieving approximately 23.3 exahashes per second of computing power for Bitcoin mining in 2023,” said Fred Thiel, Marathon’s chairman and CEO. “Each of these facilities is already under construction, which is critical for expediting installations. The first miners to be hosted under these new arrangements are scheduled to be installed in August, with installations ramping at other locations in the fourth quarter of this year and continuing into 2023. We would like to thank each of our hosting providers for working with us on these arrangements and for helping us toward our intended goal of building Marathon into one of the leading Bitcoin miners in North America.”

MARA is a member of the PRISM Web 3.0 Index, which surged 10.2% for the day, largely due to MARA’s gains.

About Marathon Digital Holdings
Marathon is a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem. The Company is currently in the process of becoming one of the largest and most sustainably powered Bitcoin mining operations in North America, while remaining asset light.