What's Going On With Bitcoin Mining Stock MARA Holdings Wednesday?

Dylan Berman

October 16, 2024

MARA Holdings, Inc. (NASDAQ:MARA) shares are moving higher Wednesday after Bitcoin (CRYPTO: BTC) prices climbed to the highest levels since July.

What To Know: Bitcoin surged to three-month highs on Wednesday, driving strength in crypto markets and crypto-related stocks. Bitcoin miner MARA Holdings is gaining alongside Bitcoin and other mining stocks including Riot Platforms, Inc.(NASDAQ:RIOT) and CleanSpark, Inc. (NASDAQ:CLSK).

Bitcoin ETFs saw a significant surge in inflows on Monday. Single-day net inflows of $555.8 million to start the week marked the highest activity since July. Bitcoin prices also reflect their highest levels since July as of Wednesday.

After the market close on Tuesday, MARA announced that it secured access to a $200 million line of credit, with part of its Bitcoin holdings serving as collateral. The company plans to use the line of credit to take advantage of strategic opportunities, as well as for general corporate purposes.

MARA had combined unrestricted cash, cash equivalents and Bitcoin holdings of $1.4 billion as of Aug. 1.

Related Link: Elon Musk’s Tesla Waving Goodbye To Bitcoin? $760M Sent To Unknown Wallets

How To Buy MARA Stock

By now you're likely curious about how to participate in the market for MARA Holdings – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy â€˜fractional shares,' which allows you to own portions of stock without buying an entire share.

In the case of MARA Holdings, which is trading at $17.65 as of publishing time, $100 would buy you 5.66 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

MARA Price Action: At the time of publication, MARA Holdings shares were up 3.25% at $17.47 according to data from Benzinga Pro.

Image: Photo via Shutterstock

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