Key Points
- Marathon Digital’s shares increased by 18%, raising its market cap by $800 million following its inclusion in the S&P SmallCap 600.
- The company also outlined a bonus structure for top executives, potentially worth up to $32.9 million in total.
After the S&P Global’s announcement that Marathon Digital is to be added to the S&P SmallCap 600, the shares of the Bitcoin miner company surged by 18%.
This resulted in an increase of around $800 million in the company’s market cap, according to Ycharts data.
Marathon Digital’s Market Performance
Marathon Digital’s shares ended the trading day at $20.67. The company’s market capitalization rose to $5.5 billion, up from $4.7 billion from the previous Friday.
The S&P SmallCap 600, which Marathon Digital is set to join, is designed to track companies that meet specific inclusion criteria to ensure liquidity and financial viability.
Executive Bonus Structure
On the same day, Marathon Digital filed an 8-K with the Securities and Exchange Commission. This document detailed a bonus structure for top executives, potentially worth up to $32.9 million cumulatively.
The bonuses are set to include CEO Fred Thiel, CFO Salman Khan, and General Counsel Zabi Nowaid. These incentives are designed to align the interests of the company’s executives with those of its stockholders, as the value of the awards is directly tied to the company’s stock price.
Despite the significant increase, Marathon Digital’s stock is still down by 9.8% in the year-to-date period.
