We initiate coverage on MARA Holdings with a Strong Buy and $44 price target, citing unmatched operational leverage to Bitcoin's next cycle and cost leadership. Our thesis is built on above-consensus revenue forecasts, driven by a 60 EH/s hash-rate ramp, low $0.04/kWh energy costs, and robust treasury BTC optionality. Valuation is compelling: MARA trades at a deep discount to historical and peer multiples, with 180% upside justified by macro tailwinds and post-halving expansion.
Targeting 75 EH/s by Year-End 211 Blocks Won in June, 25% Decrease M/M Increased BTC Holdings* to 49,940 BTC
Marathon Digital Holdings, Inc. (MARA) closed at $15.27 in the latest trading session, marking a +1.94% move from the prior day.
6 Aug 2025 (In 1 month) Date | | - Cons. EPS | - EPS |
7 May 2025 Date | | 0.72 Cons. EPS | - EPS |
26 Feb 2025 Date | | - Cons. EPS | 1.27 EPS |
6 Nov 2024 Date | | - Cons. EPS | - EPS |
6 Aug 2024 Date | | - Cons. EPS | - EPS |
6 Aug 2025 (In 1 month) Date | | - Cons. EPS | - EPS |
7 May 2025 Date | | 0.72 Cons. EPS | - EPS |
26 Feb 2025 Date | | - Cons. EPS | 1.27 EPS |
6 Nov 2024 Date | | - Cons. EPS | - EPS |
6 Aug 2024 Date | | - Cons. EPS | - EPS |
Financial - Capital Markets Industry | Financial Services Sector | Frederick G. Thiel CEO | XDUS Exchange | US5657881067 ISIN |
US Country | 171 Employees | - Last Dividend | 8 Apr 2019 Last Split | 4 May 2012 IPO Date |
Marathon Digital Holdings, Inc., established in 2010 and based in Fort Lauderdale, Florida, functions in the digital asset technology sector with a primary focus on mining digital assets, particularly within the bitcoin ecosystem. Initially known as Marathon Patent Group, Inc., the company underwent a rebranding in February 2021 to better align with its evolved business focus and to reflect its commitment to the burgeoning field of digital assets and blockchain technology. As an entity rooted in the United States, Marathon Digital Holdings, Inc. has positioned itself as a significant player in the digital mining industry, leveraging high-tech infrastructure and strategic partnerships to optimize its mining operations.
The core activities of Marathon Digital Holdings, Inc. revolve around the production and support of digital assets, primarily through: