Marathon Digital Sell-Off a Buying Opportunity, DA Davidson Analyst Says

Posted on by American Coins & Gold

Marathon Digital Sell-Off a Buying Opportunity, DA Davidson Analyst Says
The 27 percent drop in bitcoin miner Marathon Digital’s shares on Nov. 15 was “overdone” and thus presents a buying opportunity, DA Davidson analyst Christopher Brendler said in a note.On Monday, Marathon disclosed in its 10-Q filing that it received a subpoena from the U.S. Securities and Exchange Commission (SEC) to produce documents and communications concerning its Hardin, Montana, data center facility.The firm also said the SEC is investigating whether the company has been in violation of federal securities law.In addition, the company also said that it is raising $500 million in convertible senior notes to buy bitcoin and bitcoin…