MARA Holdings Inc (NASDAQ:MARA) Maintains Hold Rating Amid Financial Growth

Marathon Digital Holdings (NASDAQ:MARA) reported second-quarter results that far exceeded expectations, driven by substantial growth in bitcoin holdings and mining capacity.

The company posted adjusted earnings of $1.84 per share, topping the consensus estimate of -$0.28 by a wide margin. Revenue surged to $238.48 million, beating forecasts of $226.59 million and representing a 64% increase from $145.1 million a year ago.

Marathon’s energized hashrate rose 82% year-over-year to 57.4 EH/s from 31.5 EH/s, and it mined 2,358 bitcoins during the quarter.

MARA Holdings Inc (NASDAQ:MARA) is a prominent player in the cryptocurrency mining industry. The company focuses on mining Bitcoin and has been expanding its operations to increase its mining capacity. MARA competes with other major cryptocurrency mining companies, striving to enhance its market position through strategic growth and acquisitions.

On February 27, 2025, Needham maintained its "Hold" rating for MARA, with the stock priced at $13.67. This rating comes amid a backdrop of significant financial achievements for the company. MARA reported record fourth-quarter revenues of $214.4 million, a notable increase from $131.6 million in the previous quarter, as highlighted by Benzinga.

MARA's operational growth is evident in its 115% year-over-year increase in energized hashrate, reaching 53.2 Eh/s in the fourth quarter. The company expanded its data center footprint to approximately 70% from 0% over 2024, boosting its secured energy capacity to about 1.7 GW from roughly 0.5 GW. This strategic expansion has significantly increased MARA's bitcoin holdings to 44,893 coins, valued at approximately $3.8 billion.

Despite these achievements, analyst opinions on MARA vary. Kevin Dede from HC Wainwright reiterated a Buy rating with a price target of $28, citing the company's impressive performance. In contrast, JPMorgan analyst Reginald Smith maintained a Neutral rating, indicating a more cautious outlook on the stock's future.

Currently, MARA's stock is trading at $13.70, reflecting a 10.04% increase with a change of $1.25. The stock has fluctuated between $13.205 and $14.85 during the day. Over the past year, it has reached a high of $30.71 and a low of $12.05. MARA's market capitalization is approximately $4.65 billion, with a trading volume of 51.48 million shares.

Marathon Digital (NASDAQ:MARA) reported a disappointing third quarter for 2024, with a larger-than-expected loss and revenue falling short of analyst estimates. The news sent shares down more than 9% in pre-market today.

The cryptocurrency mining company posted a net loss of $125 million, or -$0.42 per share, missing the Street consensus estimate of -$0.33 per share by $0.09. Revenue for the quarter reached $131.65 million, falling below the expected $142.69 million, though it represented a 35% year-over-year increase.

Despite a 93% year-over-year jump in energized hash rate to 36.9 EH/s, Marathon’s bitcoin production declined by 41% year-over-year to 2,070 BTC. The company did, however, achieve positive adjusted EBITDA of $21.8 million, a notable improvement compared to the negative $21.3 million reported in the same period last year.

Marathon’s bitcoin holdings grew significantly, ending the quarter with 26,747 BTC, a 45% increase from the prior quarter.

Marathon Digital (NASDAQ:MARA) reported a disappointing third quarter for 2024, with a larger-than-expected loss and revenue falling short of analyst estimates. The news sent shares down more than 9% in pre-market today.

The cryptocurrency mining company posted a net loss of $125 million, or -$0.42 per share, missing the Street consensus estimate of -$0.33 per share by $0.09. Revenue for the quarter reached $131.65 million, falling below the expected $142.69 million, though it represented a 35% year-over-year increase.

Despite a 93% year-over-year jump in energized hash rate to 36.9 EH/s, Marathon’s bitcoin production declined by 41% year-over-year to 2,070 BTC. The company did, however, achieve positive adjusted EBITDA of $21.8 million, a notable improvement compared to the negative $21.3 million reported in the same period last year.

Marathon’s bitcoin holdings grew significantly, ending the quarter with 26,747 BTC, a 45% increase from the prior quarter.