Marathon Digital (NASDAQ:MARA) stock is on the rise Friday as the Bitcoin (BTC-USD) mining company prepares for the coin’s halving event.
That Bitcoin halving is expected to take place either today or sometime tomorrow. When this happens, the reward for mining BTC will be reduced. That’s a big deal for MARA stock and other Bitcoin mining companies.
The pressure of the upcoming Bitcoin halving has been weighing on mining stocks, but that might not be a bad thing. While this has MARA stock down 30% year-to-date (YTD), this weakness could make for an attractive entry point.
It also bears mentioning that Marathon Digital and other Bitcoin mining companies are better prepared for the halving this time around. That has them ordering new miners, increasing electricity flows and taking other actions to prepare for the event.
What The Bitcoin Halving Means for MARA Stock
One thing that traders in MARA will keep in mind is the effects of the Bitcoin halving. Experts are predicting that the event will send the coin higher. That includes it surpassing its previous all-time high. This could be a major boon to BTC miners.
MARA stock is up 2.1% as of Friday morning with more than 12 million shares traded. That’s still below its daily average trading volume of about 66 million shares.
Investors will find even more of the most recent stock market stories below!
We have all of the hottest stock market news investors need to know about on Friday! A few examples include what’s happening with shares of Redwoods Acquisition (NASDAQ:RWOD), Trump Media & Technology Group (NASDAQ:DJT) and BioNexus Gene Lab (NASDAQ:BGLC) stock today. All of that news is available at the following links!
More Stock Market News for Friday
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- Why Is BioNexus Gene Lab (BGLC) Stock Down 27% Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
