5 Companies that Benefit From Crypto Mining

3. Marathon Digital Holdings, Inc. (NASDAQ: MARA)

Number of Hedge Fund Holders: 10    

Marathon Digital Holdings, Inc. (NASDAQ: MARA) is placed third on our list of 10 companies that benefit from crypto mining. The company’s shares have returned 2,365% to investors in the past twelve months. The firm has transitioned from being a patent holder to a digital asset firm in recent years with a focus on blockchain mining operations. The company will join the Russell 2000 Index at the end of June. It hopes to generate revenue by mining crypto coins at low costs and selling them at a profit. 

On June 2, Marathon Digital Holdings, Inc. (NASDAQ: MARA) announced that it had mined more than 226 bitcoins in May, a 40% month-on-month increase. The figure brings the total number of Bitcoins mined by the firm to 5,518. These are worth over $200 million. 

At the end of the first quarter of 2021, 10 hedge funds in the database of Insider Monkey held stakes worth $197 million in Marathon Digital Holdings, Inc. (NASDAQ: MARA), up from 8 the preceding quarter worth $5.9 million.