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"thanking" is correct and usable in written English
You can use it as a verb in the present participle form, meaning to express gratitude or appreciation for someone or something, e.g.: I am deeply thanking everyone who has supported me during this difficult time.
Dictionary
thanking
verb
Present participle of thank
synonyms
Exact(60)
Perhaps he's at home crying, thanking Jane Campion, marvelling at his decades in this crazy business.
Facebook Twitter Google plus Share Share this post Facebook Twitter Google plus close 2.07pm After5:07 After his last speech as prime minister and Labor leader, Kevin Rudd walked through the party faithful, thanking them for their support over the campaign.
The 59-year old financier said the gift was his way of thanking the Ivy League school for providing him and others with a top flight education, to which he credits his success at his $19 billion firm Paulson & Co. "Today is an opportunity to thank Harvard," he said at a conference on campus announcing the donation to Harvard's school of engineering and applied sciences.
I remember thanking them profusely outside of the courthouse that day for giving me a second chance when I didn't think I deserved one.
Pérez says he agreed to join Valencia during the summer, thanking "the board and [owner Peter] Lim for believing in me and for waiting these six months".
We are currently thanking the gardeners and the gym staff.
Even when City played at away grounds, Trautmann was a popular figure, applauded by the crowd behind the goal as he took up his position, smiling and thanking them.
While thanking his writers, he said: "Those guys – and one woman.
Many of the Argentine team such as Claudio Caniggia, who plays for Glasgow Rangers, and Matias Almeyda of Parma must be thanking their lucky stars that they moved to Europe.News of an outbreak of foot-and-mouth disease among cattle in South Korea has done nothing to soothe the jangled nerves of FIFA's leaders.
Mr Deveshwar was even more craven, thanking "the Almighty" for the leadership "given to us" in Mr Modi, for "your astuteness, your wisdom...Sir, I'm profoundly inspired by the boldness of your vision and the simplicity with which you have communicated".
Mr Cameron replied by thanking the man for all that he was doing for his children: "First thing, don't give up, please keep going," he said.
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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