Why Mara Holdings Stock Dived by Nearly 7% Today

Mara Holdings (NASDAQ: MARA) is going all-in on the world's top cryptocurrency, and many investors aren't happy about it. The company's stock closed Monday almost 7% lower following news that it would aggressively pursue more Bitcoin (CRYPTO: BTC) mining and purchasing, fueled partially by a new round of capital raising. This contrasted notably with the rise of the S&P 500 index, which ended the day more than 0.2% higher.It was a busy news days for Mara with the release of its monthly production update and the announcement of that financing.As for the update, the company mined 907 Bitcoin in November, up a robust 26% over the October tally. Its hash rate -- essentially the speed at which its machines collectively process the calculations required to mine the cryptocurrency -- increased 15% to over 46 exahash (EH) per second. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool