Marathon Sets Bitcoin Production Record, Celsius Unstaking Its Ether Holdings

Jan 5, 2024
Market Update Markets are responding to various economic data releases, which showed the unemployment rate holding steady at 3.7% vs. 3.8% exp., and U.S. ISM Services PMI coming in at 50.6 vs 52.5 exp. The DXY (-0.25%) initially surged over $103 following the employment data but has dropped to $102.2 following the PMI data release. Equity indices are gaining to end the week, with the SPY and QQQ both rising approximately 0.10%. Crypto investors are patiently waiting for news regarding potential Bitcoin ETF approvals, as some expect news today, while most anticipate early next week. $BTC (-1.72%) is trading near $43.3k and $ETH (-2.05%) is holding around $2220. Altcoins are generally underperforming this week as Bitcoin’s dominance ratio ($BTC.D) has gained 3% amid heightened ETF anticipation, potentially setting the stage for a Bitcoin-led rally post-approval. Marathon Digital has set a new record for its monthly Bitcoin production, mining 1,853 Bitcoin in December, representing a 290% increase year-over-year. At current prices, that equates to over $81 million. Marathon stated in its announcement, “We believe this to be the highest monthly total ever recorded by a public Bitcoin mining company,” surpassing Core Scientific’s previous record of 1,527 Bitcoin mined in Ja

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Reports you may have missed

MARKET COMMENTARYU.S. EQUITIES ARE RELATIVELY FLAT AS THEY CONSOLIDATE ABOVE PRIOR ALL-TIME HIGHS. THE SPX IS TRADING AT 5,300, AND THE NDQ IS HOVERING NEAR $18,600, WHILE THE DXY 0.00% (-0.07%) IS SHOWING A SLIGHT DECLINE, TRADING AT $104.4. Crypto assets are showing strength, with BTC -0.73% rising 2.84% to $67.1k and ETH -1.26% surging 4.86% to $3,090. Liquid staking tokens are building on Ether's outperformance, as LDO -3.35% and PENDLE -0.21% have gained 10.11% and 13.43%, respectively. Similarly, layer-2...

CRYPTO MARKET UPDATETODAY, WE ARE SEEING SOME MINOR CONSOLIDATION IN THE CRYPTO MARKET COINCIDING WITH THE SLIGHT BOUNCE IN THE RATES AND DXY 0.00% . BTC -0.73% is trading just north of $65k, while ETHBTC continues to struggle, with ETH -1.26% moving lower for the 5th consecutive day and still trading below the $3k mark. Despite the market consolidation, SOLBTC is still green on the day as SOL -0.81% works to regain the $160 level....

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In