Marathon Digital Holdings (MARA) is trading up Wednesday after announcing it will launch the first North American-based bitcoin mining pool. Shares of MARA were 9% higher to $48.11 per share Wednesday afternoon.
Why Marathon Digital Holdings (MARA) Stock Is Up Wednesday
Marathon Digital Holdings, an enterprise Bitcoin self-mining company in North America, today announced that it will be launching the first-ever Bitcoin mining pool based in North America, which will be fully compliant with U.S. regulations, including anti-money laundering (AML) and the Office of Foreign Asset Control’s (OFAC’s) standards.
"The geopolitical value of moving mining pools to North America cannot be understated. Bitcoin is now no different than any other strategic or rare earth commodity. In fact, given the number of businesses now leveraging the potential and promise of Bitcoin both for distributed ledger benefits and as a reserve and hedge against inflation points to Bitcoin being with few peers in how important it is for long-term U.S. interest. With the work of the Future of Digital Currency Initiative at Stanford, the team here believes this infrastructure will help further decentralize Bitcoin and secure the fidelity of the network in both the short and long-term,” stated Atticus Francken - Co-Founder and Senior Fellow, Future of Digital Currency Initiative at Stanford University.
Marathon will begin directing 100% of its hashrate to the new mining pool at the start of May. Come June, the pool will begin accepting other U.S.-based Bitcoin mining companies.
Marathon Digital Holdings, Inc. operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States.
MARA has a Long-Term Technical Rank of 99. Find out what this means to you and get the rest of the rankings on MARA!
Marathon Digital Holdings Inc focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets. The company operates in the Digital Currency Blockchain segment and its crypto-currency machines are located in Canada.
