Why did Marathon Digital stock drop today? Traders fret over FTX drama

Bitcoin ( BTC-USD ) miner Marathon Digital ( NASDAQ: MARA ) stock wrapped up Tuesday's session 8.1% lower as the FTX ( FTT-USD ) contagion continues to keep traders on edge. Earlier, the Securities and Exchange Commission charged FTX founder Sam Bankman-Fried with defrauding investors and customers . Still, bitcoin ( BTC-USD ) saw some solid upside momentum, climbing 3.4% to $17.75K at 5:03 p.m. ET, after the highly-anticipated November CPI report showed that headline and core consumer prices moderated more than expected. Those cooler than expected inflation prints potentially paves the way for a less aggressive interest-rate increase at the Fed's meeting on Wednesday. It's relatively unusual to see MARA slide and BTC rise, or vice versa, given their strong historical relationship . The Quant system flagged MARA at high risk of performing badly in mid-November due to inferior profitability and decelerating momentum. SA contributor Leo Imasuen also sees MARA as a Sell , as the company's "debt burden presents a long-term headwind to a balance sheet now under siege by what looks set to be structural unprofitability for most of 2023." Crypto mining stocks finished Tuesday mixed as the FTX drama rumbles on. Shares of Riot Blockchain ( RIOT ) -2.4% , CleanSpark ( CLSK ) -2.6% , Greenidge Generation ( GREE ) -9% and BIT mining ( BTCM ) -9.6% all dived. Previously, (dec. 6) Marathon's bitcoin output dropped in November as King Mountain operations curtailed .