Crypto miner MARA slips after June bitcoin production falls

Crypto miner MARA slips after June bitcoin production falls

** Bitcoin miner MARA Holdings' shares fall 2.6% to $15.27 premarket** Co says it produced 713 bitcoin in June, down from 950 in March ** Avg BTC produced per day declined to 23.8 in June vs 30.7 in prior month ** "The decrease was primarily due to reduced uptime from weather-related curtailment and the temporary deployment of older machines in Garden City while storm-related damage was being remediated," says Fred Thiel, MARA’s chairman and CEO** Meanwhile, bitcoin , the world’s largest and best-known cryptocurrency, was last down 1.1%** Shares of crypto miners often move in tandem with bitcoin, as their profitability is closely tied to its price** As of last close, MARA down ~6.5% YTD

Reuters