Why Bitcoin-Related Stock Marathon Digital Is Moving Lower After Hours

Marathon Digital Holdings Inc MARA shares are trading lower in Tuesday's after-hours session after the company provided an update on its Bitcoin BTC/USD mining operations in Montana.

As a result of a storm that passed through Montana earlier this month, Marathon Digital's mining operations in the area are currently without power and are likely to remain offline until the damaged power generating facility can be repaired. 

Based on the latest inspection reports, Marathon Digital said its miners in Montana may have sufficient power to come back online in a reduced capacity as early as the first week of July.

Marathon Digital is a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem.

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MARA Price Action: Marathon Digital has traded between $83.45 and $6.12 over a 52-week period.

The stock was down 1.24% in after hours at $6.35 at press time, according to data from Benzinga Pro.

Photo: Pete Linforth from Pixabay.