Bitcoin Symbol With Financial Chart

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Cryptocurrency-focused stocks like Marathon Digital (MARA) and Coinbase Global (COIN) are climbing in Monday afternoon trading as bitcoin (BTC-USD) and ethereum (ETH-USD), the two largest digital tokens by market cap, inch higher over the past 24 hours.

In the midst of a mixed stock market session, bitcoin (BTC-USD +0.6%) is edging higher to $38.7K intraday and ether (ETH-USD +0.5%) is up to $2.82K.

April numbers for a couple of mining companies came out early Monday. Bitfarms‘ (BITF) average daily bitcoin (BTC-USD) production climbed 15% M/M, and BitNile (NILE) had mined 10% more BTC.

For crypto-specific news, Marathon Digital (MARA) was said to be turning to the options market in an effort to raise money. Generally, most publicly traded firms raise capital by selling debt/equity or borrowing through a bank, so Marathon Digital’s move is far from usual. Specifically, MARA is selling bitcoin (BTC-USD) call options and “we use call option straddles, where essentially you sell a call option and then buy one at a higher price so that you don’t miss out on the upside,” said MARA CEO, as reported by Bloomberg. “Historically, it has generated more than 10% annually,” he added. The main risk here is if bitcoin (BTC-USD) doesn’t hit a particular exercise price by the maturity date, MARA starts losing money.

Looking at crypto miner stocks’ intraday price action, Marathon Digital (MARA +7.3%), Greenidge Generation (GREE +6.1%), Bitfarms (BITF +5.9%) and Riot Blockchain (RIOT +6.5%) are making the biggest upswings so far. SOS (SOS +34.7%), HIVE Blockchain (HIVE +3.4%), BIT Mining (BTCM +4.2%), CleanSpark (CLSK +4.6%) and Bit Digital (BTBT +6.2%).

At Berkshire Hathaway’s annual shareholder meeting, Warren Buffett said “if you offered me all the world’s bitcoin for $25, I wouldn’t take it.

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