- Following S&P Global’s announcement that Marathon Digital will be included to the SmallCap 600 index, the company’s shares rose by 18%, and its market capitalization grew by almost $800 million.
- Additionally, the business filed an 8-K detailing an incentive system for key executives, including CEO Fred Thiel, that could total up to $32.9 million in 2024.
Marathon Digital’s shares increased by 18% on Monday, following S&P Global’s announcement that the bitcoin miner would be included in a small-cap stock index. This increase increased the company’s market valuation by approximately $800 million, as to Ycharts data.
Yahoo Finance reports that Marath0n Digital’s shares ended the day’s trading at $20.67. Ycharts data shows that the company’s market value increased to $5.5 billion from $4.7 billion on Friday.
S&P Global announced that Marathon Digital would be included in the S&P SmallCap 600 after the conclusion of trade on Friday.
According to S&P Global, the index is created to track businesses that satisfy certain inclusion requirements in order to guarantee their liquidity and financial viability.
Additionally on Monday, the business submitted an 8-K to the Securities and Exchange Commission detailing a top executive bonus structure with a maximum cumulative value of $32.9 million.
The three executives Fred Thiel, the CEO of Marathon Digital, Salman Khan, the CFO, and Zabi Nowaid, the general counsel, were identified as eligible for bonuses.
Since the value of the awards is directly correlated with the company’s stock price, Marathon Digital stated in its filing that the incentives serve to align the interests of the company’s leaders with those of its owners.
Marathon Digital’s stock is still down 9.8% for the year as of Monday, despite the significant increase.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
