Marathon shares fall 7% after November operational update

Almost all of the bitcoin mining stocks tracked by The Block traded lower on Wednesday, and three firms saw double-digit declines.

Bitcoin was trading at around $16,800 by market close, according to data from TradingView.

BTCUSD Chart by TradingView

SAI.TECH led the declines with shares falling 14.5%. It was followed by Cipher Mining (-12.6%), and Terawulf (-10.6%).

Marathon Digital’s price dropped 7.3% a day after it provided its November operational update after the close on Tuesday. The company said its production was “negatively impacted by curtailment at the King Mountain

site in Texas,” and that it produced 472 bitcoin in the month compared to a record 615 in October.  

Here’s how crypto mining companies performed on Wednesday, Dec. 7:

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.