Why Marathon Digital Stock Is Jumping This Week

Marathon Digital (NASDAQ: MARA) stock jumped again this week. The Bitcoin mining company's share price ended this week's trading up 12.3% compared to last week's close, according to data from S&P Global Market Intelligence.

Marathon Digital stock gained ground thanks to continued momentum for Bitcoin. The market-leading cryptocurrency has rallied 9.3% over the last week and climbed above a significant valuation threshold.

Bitcoin is now trading at approximately $51,500 per token. With the gains, Bitcoin's valuation has once again been pushed above the $1 trillion mark. Prior to this week's trading, the token's market capitalization hadn't been above that threshold since November 2021.

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Source Fool.com