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Discover Ludwig"is thanking" is a correct and usable phrase in written English.
It is used in the present continuous tense, implying an action that is continuing at the present moment. For example: "I am thanking my parents for their unconditional love and support."
Dictionary
is thanking
verb
To express gratitude or appreciation toward.
synonyms
Exact(23)
3.52am GMT McAuliffe is thanking everyone.
AR Rahman is thanking Andrew Lloyd Webber.
But just as Mr. Romney is thanking the president for the apparent concession, Mr. Obama interrupts him to say, "My baptism is on Saturday".
[C2.] Oprah, in Magazine and Book Form Oprah Winfrey is thanking her 2.6 million readers for their loyalty with an extra treat.
The one thing we absolutely will be doing is thanking all of our guests for their attendance at the wedding, with a personal thank-you note, whether they give a gift or not.
Kass may be, in her words, "putting Estonia on the map," but clearly no one in Tallinn is thanking her for it, a fact that doesn't go unremarked upon.
Similar(37)
And that is thank you.
There she is thank you.
"Curtains" itself is, thank goodness, considerably better.
Binder is, thank goodness, a joke.
My first thought is, thank God.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com