- NASDAQ:MARA added 1.73% on Thursday as the NASDAQ continued to rebound off of its recent correction.
- Marathon enters into a strategic agreement to manage a new Bitcoin mining pool.
- Bitcoin stocks extend gains as two new financial giants enter the cryptocurrency fold.
NASDAQ:MARA has been one of the biggest winners alongside the continued rise in the value of Bitcoin and other cryptocurrencies. Thursday saw the sixth straight trading session that Mara reported gains, as the stock gained 1.73% to close the day at $48.85 as the stock market headed into the Easter long weekend. Marathon is trading well above both its 50-day and 200-day moving averages, and has had a monumental 52-weeks, returning over 10,500% to its investors who got in early.
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Marathon announced earlier in the week that it was entering into a strategic agreement with DMG Blockchain Solutions, a Vancouver, Canada based vertically integrated blockchain and cryptocurrency company. The agreement will allow DMG to manage and provide consultation to Marathon with regards to the DCMNA mining pool that will be the first of its kind to be fully compliant with U.S. regulations. Marathon will be dedicating 100% of its current hashrate and all 103,120 of its Bitcoin miners to the pool, and by June 2021, other Bitcoin mining companies that operate in the U.S. will be able to join.
MARA stock forecast
The cryptocurrency and Bitcoin mining stocks got a huge boost this past week when financial giants Visa (NYSE:V) and PayPal (NASDAQ:PYPL) announced major ventures into the crypto world. Visa will soon be accepting transactions over the Ethereum Blockchain using USD Coin, and PayPal will be allowing its customers to use cryptocurrencies they hold in their PayPal digital wallet at over 29 million online retailers around the world.
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