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MARA drops after reporting month-over-month decrease in bitcoin mined

Ahead of its May 8 quarterly earnings report, MARA Holdings released its April report card for bitcoin production and the news wasn’t good, sending shares sharply lower.

The company saw a “15% month-over-month decrease in blocks won as global hashrate had its second largest monthly gain on record and mining difficulty grew 8% from March,” the press release announced.

The company won 205 blocks in April, compared to 242 in March, and also saw a 15% decrease in bitcoin produced, dipping to 705 in April compared to 829 the month prior.

In March, the company also launched a $2 billion stock offering primarily to buy bitcoin. According to the release, it currently holds 48,237 bitcoin.

The company won 205 blocks in April, compared to 242 in March, and also saw a 15% decrease in bitcoin produced, dipping to 705 in April compared to 829 the month prior.

In March, the company also launched a $2 billion stock offering primarily to buy bitcoin. According to the release, it currently holds 48,237 bitcoin.

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New bitcoin AfterDark ETF will be bitcoin at night, Treasurys by day

Tidal Trust II submitted form N-1A with the SEC to register a bitcoin ETF designed to systemically capture the cryptocurrency’s overnight return profile, a time window that delivered a significant portion of bitcoin’s upside last year.

The Nicholas Bitcoin and Treasuries AfterDark ETF provides long bitcoin exposure during US overnight hours, from the closing bell until the following morning’s market open, when the fund intends to unwind its positions, according to a document filed with the SEC on Tuesday. 

To gain that exposure, the ETF may use a number of methods, including bitcoin futures contracts, US-listed ETFs, or exchange-traded options on such bitcoin underlying funds. When the market is open and daytime trading is active, the fund’s portfolio will consist of US Treasury securities and other cash equivalents. 

In 2024, most of bitcoin’s gains occurred after-hours, senior Bloomberg ETF analyst Eric Balchunas reported:

The AfterDark ETF filing comes as bitcoin crossed $94,000 on Tuesday, rising 4.5% in the last 24 hours. Even though spot bitcoin ETFs saw nearly $60.5 million in outflows on Monday, the investment vehicles have a cumulative net inflow of $57.6 billion, per SoSoValue.

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