Shares of Marathon Digital Holdings Inc. climbed 1.3% in premarket trading Thursday, after the cryptocurrency miner said it produced 360 bitcoin in September, or nearly 60% of the 616 bitcoin produced during the third quarter. The company said the improved bitcoin production has continued into October, with about 19,000 additional miners coming online since the end of September. The company said it currently has about 57,000 active miners. The company expects an additional 19,000 miners to come online in the next 30 days. Separately, the company said it has not experienced any significant negative impacts, following the bankruptcy announcement on Sept. 22 of one of its hosting providers, Compute North LLC. Marathon said it is in the process of moving about 3,000 miners from Compute North facilities to new sites, but said the relocation is unrelated to Compute North's bankruptcy. Marathon's stock has rocketed 127.3% over the past three months through Wednesday, while bitcoin has slipped 1.6% and the S&P 500 has eased 1.6%.
(END) Dow Jones Newswires
October 06, 2022 08:52 ET (12:52 GMT)
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