Marathon Digital Dips Despite Positive Bitcoin Production News

Shares of Marathon Digital Holdings (MARA), a cryptocurrency-focused digital asset technology company, are down 7% at the time of writing despite the company disclosing that it produced 1,258.6 self-mined bitcoin in the first quarter of 2022. The stock initially saw a small boost upon release of the news; however, the overall market seems to have dragged it down. Production Details The self-mined bitcoin production increased 556% year-over-year from 191.8 bitcoin in the last year's quarter. Further, as of March 31, 2022, Marathon said it held nearly 9,373.6 of total bitcoin with a fair market value of $427.7 million. Quarterly, the company produced 436.