Riot, Marathon, Canaan See Record Monthly Share Gains as Bitcoin Clears All-Time High
Mining companies are soaring as bitcoin hits record highs.
At the crypto market's 2017 peak, Marathon barely had $50 million in market capitalization.
Nasdaq-listed Marathon said it will use the funds to pay for recent hardware purchases from Bitmain and to expand its business.
The Las Vegas company has agreed to a direct offering of 12.5 million shares of common stock at $20 per share.
The announcement comes after a holiday weekend in which the price of bitcoin hit a succession of new all-time highs.
Share prices for publicly traded bitcoin mining companies are climbing as the leading cryptocurrency sliced through $20,000 Wednesday.