Marathon Digital Holdings Inc is trading 5% down at $13.09 following a sharp pullback in Bitcoin and the broader crypto complex, which is weighing on high-beta mining stocks.
- Major cryptocurrencies, including Bitcoin and Ethereum, have declined 3–4% over the last 24 hours, putting pressure on the mining sector.
- The decline is compounded by a weaker tech tape in U.S. equities, reversing momentum from yesterday’s strong rebound.
- High-beta stocks in the crypto space are seeing outsized volatility compared to the underlying assets.