Marathon stock jumps 11% amid global expansion
The world’s largest Bitcoin mining company is set to geographically diversify business, leading to a gradual decrease in production costs. Shares of Bitcoin (BTC) mining company Marathon Digital (MARA) rallied 11.6% on Nasdaq on Nov. 15. The investors appear to be optimistic about the company’s future after the Las Vegas-headquartered company unveiled new plans for global expansion . MARA shares daily price | Source: TradingView As noted by analysts at BNK Invest, MARA shares crossed 200-day moving average, an indicator which shows the trend of a stock over a long duration. On a year-to-date scale, MARA shares surged a whopping 201%, according to data from TradingView. MARA shares price YTD | Source: TradingView The surge comes as the company announced new plans for global expansion , geographically diversifying its mining capabilities in a bid to gradually decrease production costs. You might also like: Marathon Digital Holdings enhances Bitcoin min...