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What Caused The MARA Stock To Rise Premarket?

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The shares of one of the largest enterprise Bitcoin mining companies in North America, Marathon Digital Holdings Inc. (MARA) rose 8.26% to trade at $24.50 in pre-market trading at the last check. Marathon Digital stock rose 1.25% to $22.63 by close on Tuesday. In the past 50 days, MARA stock volume averaged 13.27 million shares per day, but today’s volume was lower at 6.29 million shares.

Within the last 12 months, MARA shares have gained 2346.49%, but they have fallen by -12.83% in the last week. A three-month period has seen MARA stock drop by -32.59%, while a six-month period has seen it increase by 1.25%. The market value of MARA sits at $2.37 billion and the outstanding stock was 94.35 million total shares. A report about its participation in a digital event sparked a rally in MARA stock.

What event will MARA participate in?

Marathon Digital is a digital asset technology company that mines cryptocurrencies and generates digital assets in the United States through blockchain technology. In February 2021, Marathon Digital Holdings, Inc. changed its name from Marathon Patent Group, Inc. Las Vegas-based MARA was founded in 2010 and has its headquarters there.

The Mining Disrupt Conference, to be held in Miami, Florida on July 20-21, 2021, will be attended by Marathon Digital.

  • A gathering of blockchain mining professionals and innovators is taking place at Mining Disrupt.
  • In his presentation, the CEO of MARA, Fred Thiel, will talk about “Vertical Integration or Maximum Agility – Which Strategy Will Be Best for Mining in the Next 4 Years?”
  • The presentation will begin at 10:50 am Eastern time on Wednesday, July 21st.
  • On that same day, the CEO of MARA will also participate in two separate panels entitled “Should Miners Form Councils – Does It Work for or Against Decentralization?” and “Dear Elon (…)”.
  • Participants can register for the event at https://miningdisrupt.com.

Charlie Schumacher has been appointed director of corporate communications at Marathon Digital, the company announced last Wednesday. Schumacher will report to MARA’s CEO and be responsible for MARA’s investor relations, public relations, and marketing efforts.

What caused MARA to appoint Schumacher?

In light of the increasing institutional adoption of Bitcoin, MARA’s expanding operations, and the goal of establishing Marathon as one of the most prominent Bitcoin miners in North America, Marathon believes it is the right time to hire an in-house corporate communications director to elevate the organization. In September 2020, Schumacher began working for Marathon Digital (MARA) and has proved to be a valuable asset. The new and expanded position he holds will enable MARA to benefit from his expertise.

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