Why MARA Holdings (NASDAQ:MARA) Skyrocketed on Friday

We recently published a list of 11 Firms Under Tech, Energy, Aviation Lead Friday Rally. In this article, we are going to take a look at where MARA Holdings Inc. (NASDAQ:MARA) stands against other firms under tech, energy, and aviation, which led Friday’s rally.

Wall Street’s main indices finished in the green territory on Friday amid a series of catalysts buoying investor appetite.

The Dow Jones Industrial Average rose by 0.80 percent, while the S&P 500 and Nasdaq Composite rallied by 1.26 percent and 1.77 percent, respectively.

Eleven companies—predominantly in the technology, energy, and aviation sectors—posted notable gains. Here is why:

To come up with Friday’s top advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Is MARA Holdings Inc. (MARA) Among Firms Under Tech, Energy, Aviation that Led Friday Rally?

An aerial view of a bustling financial district, with skyscrapers and a large financial institution in the city center.

MARA Holdings Inc. (NASDAQ:MARA)

Shares of MARA Holdings (NASDAQ:MARA) rose for a second day on Friday, rallying by 14.12 percent or 2.43 points to close at $19.64 each.

Similar to TeraWulf and CleanSpark, shares in MARA Holdings—a Bitcoin mining company—were buoyed by higher Bitcoin prices.

On Friday, prices of Bitcoin cracked past the $97,000 territory as the cryptocurrency tried to retest its $100,000 resistance level.

Investor sentiment was also buoyed by news that the company surpassed its annual hash rate target by an impressive 168 percent after reporting a solid month of Bitcoin production. In December alone, MARA Holdings (NASDAQ:MARA) achieved a record-breaking 53.2 exahashes per second (EH/s), surpassing its 50 EH/s target.

According to the company, the achievement represented a 15 percent improvement from the previous month, boosted by increased investment in mining equipment.

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Disclosure: None. This article is originally published at Insider Monkey.