Bitcoin News: Latest news for Crypto Currency 2022

Cryptocurrency miner Marathon Digital Holdings (MARA) has been volatile as the price of Bitcoin fluctuates wildly. Here is what the fundamentals and technical analysis say about buying MARA stock now.

Marathon is a digital asset technology company that mines cryptocurrencies, focusing on the blockchain ecosystem and the generation of digital assets.

The company started out in 2010 as Marathon Patent Group, when it began collecting patents related to encryption. MARA stock began trading in 2013. On March 1, 2021, the company changed its name to Marathon Digital Holdings. On April 26, 2021, Fred Thiel replaced Merrick Okamoto as CEO. The company announced Dec. 15 that Okamoto was stepping down as chairman at the end of 2021. Thiel will become chairman on Jan. 1, 2022.

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Marathon Digital provides the computing power needed to mine Bitcoins. Bitcoin mining consists of processing, or validating, transactions. The speed at which a digital currency miner processes transactions is called hash rate. The faster a miner can process transactions, the more revenue it generates.

Marathon Digital is paid in Bitcoin for mining. The company can then sell this Bitcoin to generate revenue. Marathon Digital also funds its operations through financing.

Crypto Regulations Coming

The Biden administration is preparing to release a government-wide strategy to regulate cryptocurrencies as early as February, according to a recent Bloomberg report.

The National Security Council will task federal agencies to assess crypto's risks and opportunities. The plan will ask various agencies to submit reports in the second half of 2022. Last fall, the Biden administration proposed that only banks be allowed to issue stablecoins.

SEC Investigation

Marathon Digital stock tumbled 27% on Nov. 15, 2021, after it said in a filing that it had received a subpoena from the Securities & Exchange Commission. The SEC is asking the company and certain executives to produce documents and communications concerning the Hardin, Mont., data center facility.

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"We understand that the SEC may be investigating whether or not there may have been any violations of the federal securities law," the company said in the filing. "We are cooperating with the SEC."

On Oct. 6, 2020, Marathon Digital entered into a series of agreements with multiple parties to design and build the Hardin data center. As part of the deal, it issued 6 million of restricted Marathon common shares as part of the deal.

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Marathon Digital also said on Nov. 15 that it intends to raise $500 million in senior convertible notes to buy more bitcoin and bitcoin miners.