Marathon Digital’s stock rallies toward longest daily win streak in 2 1/2 years, and record weekly win streak

Shares of Marathon Digital Holdings Inc.
MARA,
+8.43%
rallied 3.4% in midday trading Wednesday, putting them on track for the highest close since April 2022, as bitcoin’s
BTCUSD,
+0.24%
3.5% surge provided a boost. The cryptocurrency miner’s stock has soared 55% amid a seven-day win streak, which would be the longest win streak since the seven-session streak that ended April 5, 2021. The stock, which went public in March 2011, has also skyrocketed 194.6% amid what would be a record 10-week win streak. The company had announced before Tuesday’s open an agreement to buy two operational bitcoin mining sites from subsidiaries of Generate Capital for $178.6 million, or about $458,000 per megawatts of capacity. Marathon Digital’s stock has blasted 564% higher year to date, while bitcoin has run up 163.6% and the S&P 500
SPX,
+0.57%
has rallied 24.3%.