---
title: "Marathon Digital becomes most traded stock of the day, $327M in volume"
url: https://diffcoin.com/marathon-digital-becomes-most-traded-stock-of-the-day-327m-in-volume/
description: "Trading volumes for Bitcoin (BTC) miner Marathon Digital stocks have topped the charts@ just weeks ahead of an anticipated approval of spot Bitcoin…"
published: 2023-12-28
updated: 2023-12-28
author: "Mila"
site: "Diffcoin"
---

# Marathon Digital becomes most traded stock of the day, $327M in volume

Trading volumes for Bitcoin (BTC) miner Marathon Digital stocks have topped the charts@ just weeks ahead of an anticipated approval of spot Bitcoin exchange-traded fund (ETF).

Over the last 24 hours, the publicly traded firm has seen more than 105 million shares worth of trading volume, beating the blue-chip stocks including Tesla, Apple, and Amazon, according to Yahoo Finance market data.

*Shares in Marathon Digital are the most traded in the last 24 hours. Source: Yahoo Finance*

Fellow Bitcoin miner Riot Platforms stands as the sixth most-traded stock on the chart, with more than 40 million shares traded over the last day.

The uptick in trading activity on Bitcoin mining stocks comes amid a renewed push from mining firms to expand their operations ahead of an expected approval of a spot Bitcoin exchange-traded fund (ETF) in early January as well as the Bitcoin halving in April.

On Dec. 19, Marathon announced plans to purchase two mining centers for $179 million, a move that will see an additional 390 megawatts of mining capacity added to its existing 584-megawatt output.

Two weeks earlier, Riot Platforms acquired an additional $291 million worth of Bitcoin mining rigs, marking the largest increase in the hash rate in the firm’s history.

While Bitcoin has enjoyed outsized growth throughout 2023 — up more than 163% from the beginning of this year — shares in Bitcoin miners have vastly outperformed that of the market-leading cryptocurrency.

Marathon Digital and Riot Platforms have posted a whopping respective gains of 767% and 452% year-to-date, according to data from TradingView.

*Shares in Marathon Digital have significantly outperformed Bitcoin. Source: TradingView*

The largest publicly traded crypto exchange, Coinbase, has also enjoyed healthy tailwinds, gaining more than 450% since the beginning of 2023.

***Related:*** ***Bitcoin fees hit 20-month high as miner revenues match $69K BTC price***

Still reeling from the collapse of FTX and numerous other high-profile meltdowns in 2022, crypto-related stocks began the year as a popular short trade.

However, traders looking to bet against the crypto sector may have gotten more than they bargained for, with more than $6 billion worth of crypto-related shorts being liquidated so far this year.

***Magazine:*** ***DeFi’s billion-dollar secret: The insiders responsible for hacks***

[Source link](https://cointelegraph.com/news/marathon-digital-bitcoin-miner-most-traded-stock-united-states-share-market)