Marathon saw its stocks rise by 18% on Monday after being announced by S&P Global in its SmallCap 600 index. The company's market cap rose by about $800 million. Marathon filed an 8-K with the SEC for three of its top executives. Following Bitcoin miner Marathon Digital's inclusion as an upcoming member of the S&P SmallCap 600, the company's stock received an 18% boost, accompanied by an $800 million rise in market cap.
Read more: Ethereum traders show uncertainty, SEC delays decision on Invesco's ETH ETF application The Bitcoin mining company was announced on Friday as part of the list, and its stocks began to rise quickly from that time and closed the day at $20. The SmallCap 600 is an index of companies with a small market cap, selected based on their recent profitability and many other features. The companies considered to be small-cap must have a market cap of $1 billion to $6.7 billion.
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Bitcoin miner Marathon Digital to join S&P SmallCap 600, shares jump 18%Bitcoin mining firm Marathon Digital’s shares rallied 18% on news that it would be added to the S&P SmallCap 600 index fund.
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Bitcoin miner Marathon increases 2024 hash rate target to 50 EH/sBitcoin mining firm Marathon Digital has revised its end-of-2024 hash rate target from 35-37 to 50 EH/s — which the firm says it can reach without raising additional capital.
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