From Dow Jones & Company:

Shares of Marathon Digital Holdings fell nearly 18% on Friday, reaching as low as $23.07, marking the stock’s worst day since January 18th after an impressive rally earlier this month. The stock rebounded slightly to $23.60 by 3:30 pm Eastern time. This comes after Marathon’s shares surged 112% during an 11-day win streak before falling 9.5% on Thursday. The losses also followed a previous 17.4% drop on January 18th. The stock is still up nearly 600% this year and is being driven by optimism about the potential approval of a spot-bitcoin exchange-traded fund in the U.S. Other crypto miners have also rallied this year, with shares of Riot Platforms up over 360% and Ebang International up more than 430%. Bitcoin edged lower on Friday, down 1.1% over the past 24 hours, and is currently slightly above $42,000, up 156.9% so far this year but still down almost 40% from its peak in 2021.



Read more: Crypto miner Marathon Digital’s stock falls 18%, nears worst day since January