Why Mara Holdings Stock Was Soaring This Week
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Mara Holdings' stock surged nearly 17% this week, driven by a rise in Bitcoin's value and a significant hardware order from Canaan for over 50,000 mining machines. Bitcoin's price increased from under $110,000 to over $120,000, influenced by expectations of a Federal Reserve rate cut. This positive momentum in the crypto market has benefitted mining companies like Mara, which continues to focus on Bitcoin mining despite diversifying its business.
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