Bitcoin Miner Marathon’s Sales Beat Fails to Impress Wall Street
The company sold 56% of its mined bitcoin during the fourth quarter to fund operating costs.
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The company sold 56% of its mined bitcoin during the fourth quarter to fund operating costs.
The new offering will expedite the process of large and non-standard transactions.
Bitcoin climbed over $46,000 for the first time in nearly a month early Friday, extending its gain for the week to nearly 10%.
The decline happened as bitcoin spiked above $45,000 during the day as traders anticipate an imminent spot BTC ETF decision in the U.S.
U.S.-listed companies rode bitcoin’s bullish momentum to show significant gains in pre-market trading, including COIN, MSTR, MARA and RIOT.
Bitcoin slipped below $42,000 on Friday, stalling below its yearly high.
A “flash crash” in thin trading Sunday evening, saw bitcoin’s price plunge nearly 10% from the $44,000 level in the space of a few minutes.
COIN, MSTR, HOOD and mining stocks were all showing upward movement in pre-market trading after BTC rose to its highest level in 18 months.
The miner sees yearly mining power guidance exceeding/TKTK 23 EH/s this year.