Marathon Digital, the largest publicly traded miner, is buying bitcoin in the open market, despite acquiring the digital assets at a discount via mining.
Shares of Marathon Digital (MARA) are falling Tuesday after receiving a price target cut from JPMorgan. Analysts at the firm lowered the price target to $12 from $14, citing recent changes in the price of bitcoin (BTC-USD) and the network hash rate as the reasons behind the move. These factors could potentially affect miners' profitability. Catalysts co-hosts Brad Smith and Madison Mills break down the details. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith
(Updated - August 15, 2024 11:24 AM EDT)