Stock Track | Marathon Digital Soars 13.52% as Bitcoin Hits New Highs on Trump Crypto Boost, Growth Plans

Stock Track11-21

Marathon Digital Holdings Inc (MARA) witnessed a remarkable 13.52% surge in its stock price on Thursday, driven by a bullish sentiment engulfing the cryptocurrency market. The rally coincided with Bitcoin reaching a fresh record high above $98,000, fueled by optimism surrounding President-elect Donald Trump's anticipated crypto-friendly policies.

MARA's ascent can be attributed to several key factors outlined in recent communications from the company. Firstly, MARA plans to leverage its proprietary cooling technology and low-cost energy solutions by partnering with major cloud and data center providers (hyperscalers) like Amazon Web Services, Microsoft Azure, and Google Cloud. This strategic move mitigates risks associated with independently hosting AI/HPC workloads and positions MARA to benefit from the hyperscalers' scale and resources.

Additionally, MARA is aggressively scaling its gas-to-power initiatives, which involve converting excess flared gas from oil fields into ultra-low-cost electricity at just 1 cent per kWh. The company aims to exceed 1 gigawatt of low-cost energy capacity in the coming years, significantly reducing its power costs and enhancing profitability.

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