What To Know:

Marathon Digital announced on Wednesday that it produced 616 bitcoins in May, down from 850 in April and a 50% decrease from 1,245 bitcoins in May 2023. The company also said it had increased its holdings to 17,857 bitcoins. 

Marathon said it energized approximately 5,000 additional miners (c. 0.7 EH/s). Approximately 9,000 miners were reinstalled at the Ellendale facility, awaiting a return to full energization. As a result, Marathon’s operating fleet increased to approximately 246,000 bitcoin miners theoretically capable of producing 30.6 EH/s, with 237,000 miners (c. 29.3 EH/s) fully operational. In May, Marathon achieved a peak overall hash rate of 28.1 EH/s. 

“In May, we mitigated the impact of the April Halving event by increasing the number of blocks won, resulting in the production of 616 bitcoin, a decline of only 27%,” said Marathon CEO Fred Thiel. 

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Is MARA A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Marathon Digital Holdings‘ page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Marathon Digital Holdings does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 13.14%, you'll need to buy a share of Annaly Capital Management by June 28, 2024. Once done, you can expect to receive a nominal payout of $0.65 on July 31, 2024.

MARA Price Action: According to Benzinga Pro, Marathon Digital shares are up 0.52% at $19.35 at the time of publication Monday.

Image: Pete Linforth from Pixabay