What's Going On With Bitcoin-Related Stock Marathon Digital?

Marathon Digital Holdings Inc MARA shares are trading higher Friday. The company provided a Bitcoin BTC/USD production and mining update late Thursday.

Marathon Digital said it produced 707 Bitcoin in the second-quarter, representing an increase of 8% year-over-year, despite significant headwinds.

Bitcoin production was impacted by energization delays in Texas, maintenance to its facilities and a severe storm which caused one of its mining locations to go offline. However, year-to-date production was up 132% over the same period in the prior year.

Marathon Digital now holds 10,055 Bitcoin directly and finished the month with $88.7 million in cash and $153.7 million in total available liquidity.

Bitcoin was up 3.52% over a 24-hour period at $21,480 at press time, which could be adding to Marathon Digital's move higher today.

See Also: Bitcoin, Ethereum, Dogecoin Spike: Analyst Sees Apex Crypto Hitting $28K-$30K In 'Few Days' If This Happens

MARA Price Action: Marathon Digital has traded between $83.45 and $5.20 over a 52-week period.

The stock was up 20% at $8.44 at press time, according to data from Benzinga Pro.

Photo: Pete Linforth from Pixabay.