Marathon Digital Holdings (NASDAQ:MARA) shares are trading higher on Thursday amid a rebound in the price of Bitcoin (CRYPTO: BTC). Also, Marathon Digital released its Bitcoin Production and Mining Operation Updates for July 2024.

What To Know: Bitcoin is currently trading at $58,772, according to data from Benzinga Pro. Marathon shares are trading at approximately $17, up from a trading price of about $14 on Monday.

In the Production and Mining Operation Updates for the past month, the company said it mined 692 bitcoin, a 17% increase compared to June. The company's total Bitcoin holding as of the end of July was 20,818 Bitcoin.

Its average operating has rate was 27.5 EH/s and its peak hash rate was 30.1 EH/s. The average operating hash rate represents a 5% increase from June. In addition, the company energized approximately 5,000 new miners and removed or relocated about 10,000 existing miners for fleet optimization.

"Domestically, we have begun deploying our own technology to improve the operations of our sites. We are transitioning a large portion of our Granbury site from air cooled to MARA's immersion containers. Due to these deployments, our Granbury hash rate was lower in July, and we expect to have temporary downtime at this location," said Fred Thiel, chairman CEO of Marathon Digital.

MARA Price Action: Marathon Digital stock is trading 10.3% higher at $17.51 at the time publication per data from Benzinga Pro.

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