Marathon Digital: A Bitcoin Miner With Robust Growth Potential

Marathon Digital: A Bitcoin Miner With Robust Growth Potential

Marathon Digital (MARA) is among the best performing stocks over the last year, having skyrocketed over 7,000%.Given the rally in Bitcoin, the surge in Marathon Digital stock is probably not surprising. As a Bitcoin miner, the company seems like a good proxy to owning the cryptocurrency and there is a strong likelihood that the Bitcoin price could remain firm.A fundamental reason behind this strength is that Bitcoin is priced against the dollar and there is no limit to the amount of dollars that can be printed. On the other hand, Bitcoin has a limited supply.Recently, Citigroup (C) opined that Bitcoin is "at a tipping point of mainstream acceptance or speculative implosion.“There is ample data to suggest that Bitcoin is positioned for wider acceptance. For example, Square's Cash App reported 3 million Bitcoin users in FY2020, and in January 2021, more than one million customers purchased Bitcoin for the first time.So how does higher Bitcoin price benefit Bitcoin miners like Marathon Digital?Marathon Digital could decide to sell the mined cryptocurrency and boost its cash position, or it could choose to hold onto the Bitcoin, similar to other assets on its balance sheet.Factors That Make Marathon Digital AttractiveMarathon Digital has already reported