Bitcoin Miner MARA Boosts BTC Buying Power With Nearly $1 Billion Raise► https://t.co/BLOQVwZZWe https://t.co/BLOQVwZZWe ...

Bitcoin miner MARA closes upsized $950 million note sale to buy more BTC and fund debt repurchases https://t.co/ayCCUct9OL ...

Group 1 - Morgan Stanley upgraded MARA Holdings (MARA.US) rating from "Neutral" to "Overweight," raising the target price from $19 to $22 due to the company's 2025 hash rate target of 75 EH/s not being fully reflected in the stock price [1] - The CEO of MARA Holdings, Fred Thiel, indicated that this target represents over a 40% increase compared to 2024, supported by existing machine orders, with the current active hash rate at 57.4 EH/s [1] - In pre-market trading, MARA's stock price increased by 2.32% to $17.65 [1] Group 2 - Ratings for Riot Platforms (RIOT.US) and IREN (IREN.US) were downgraded from "Overweight" to "Neutral" as their performance has outpaced Bitcoin and CoinShares Bitcoin Mining ETF (WGMI.US), leading to tight valuations [1] - Analysts from Morgan Stanley noted that unless high-performance computing (HPC) transactions are achieved or Bitcoin prices rise further, short-term upward momentum for RIOT and IREN is limited [1] - Morgan Stanley identified CleanSpark (CLSK.US) as a preferred stock, raising its target price by $1 to $15, while setting Cipher Mining (CIFR.US) target price at $6 [2] Group 3 - The rating adjustments were based on updated operational metrics for Bitcoin mining companies, including Q2 Bitcoin production, hash rate achievements, and the dynamics of Bitcoin prices and network hash rates [2] - The firm emphasized that model revisions aim to more accurately reflect industry trends, but market sensitivity to HPC collaborations and Bitcoin price fluctuations will continue to impact individual stock performance [2]

Core Insights - Marathon Digital Holdings, Inc. (MARA) is expected to report a second-quarter loss of $0.49 per share on revenues of $228.9 million, reflecting a year-over-year growth of 57.7% [2][9] - The company's earnings performance has been mixed, with one earnings beat, one match, and two misses in the past four quarters, resulting in an average surprise of 136.1% [3] - MARA's stock has increased by 21% over the past three months, although it has underperformed compared to competitors like Riot Platforms, Inc. (RIOT) and HuT 8 Corp. (HUT), which gained 96% and 56% respectively [7][9] Revenue and Strategy - MARA's revenue growth is attributed to its dual approach to Bitcoin mining, which focuses on both revenue generation and strategic asset accumulation [6][9] - The company operates energy-efficient mining operations that allow it to produce Bitcoin at lower costs, ensuring consistent revenue streams [6] - MARA retains a significant portion of the Bitcoin it mines, positioning itself for potential price appreciation over time [6] Market Position and Outlook - Despite a robust revenue generation outlook, MARA faces near-term profitability challenges [8] - The company's strategic expansion through increased mining capacity and cost-effective facility acquisitions supports long-term growth [8] - A favorable regulatory environment for cryptocurrencies is expected to provide a tailwind for the company [8]

JUST IN: 🇺🇸 Publicly traded MARA raised $950 million to buy more #Bitcoin and other purposes.Nothing stops this train 🙌 https://t.co/YpfrqY3Pj5 ...

Core Viewpoint - MARA Holdings, Inc. has successfully closed an upsized offering of $950 million in 0.00% convertible senior notes due 2032, with net proceeds of approximately $940.5 million expected to be utilized for various corporate purposes, including acquiring additional bitcoin and repaying debt [1][2]. Group 1: Offering Details - The offering included an option for initial purchasers to buy an additional $200 million in notes within a 13-day period [1]. - The notes are unsecured and will not bear regular interest, with special interest payable under certain conditions starting February 1, 2026 [3]. - The notes will mature on August 1, 2032, and can be redeemed by MARA under specific conditions starting January 15, 2030 [3][4]. Group 2: Use of Proceeds - Approximately $18.3 million of the net proceeds will be used to repurchase $19.4 million of 1.00% convertible senior notes due 2026 [2]. - About $36.9 million will cover costs related to capped call transactions with initial purchasers [2]. - The remaining proceeds will be allocated for acquiring bitcoin, working capital, strategic acquisitions, and debt repayment [2]. Group 3: Conversion and Redemption Features - The notes are convertible into cash, shares of MARA's common stock, or a combination thereof, with an initial conversion rate of 49.3619 shares per $1,000 principal amount [5][6]. - Holders can require MARA to repurchase their notes under certain conditions, including if the stock price falls below the conversion price [4]. - The conversion rate is subject to adjustments based on specific events [6]. Group 4: Market Impact and Hedging - The repurchase of the 1.00% 2026 convertible notes may lead to significant market activity as hedged holders unwind their positions, potentially affecting MARA's stock price [7][8]. - Capped call transactions are expected to mitigate dilution upon conversion of the notes, with an initial cap price of approximately $24.14 per share [9][10]. - Initial hedging activities related to the capped call transactions may also influence the market price of MARA's common stock [11].

🚨 CMC News: MARA Stock Falls 10% After Announcing $850 Million $BTC Purchase Plan.🔗 https://t.co/9Jajh7G2kW https://t.co/06IcNhj7bQ ...

Core Viewpoint - MARA Holdings, Inc. has announced the pricing of an upsized offering of $950 million in convertible senior notes due 2032, with an option for initial purchasers to buy an additional $200 million [1][6] Group 1: Offering Details - The notes will be unsecured, senior obligations of MARA, with a maturity date of August 1, 2032, and will not bear regular interest [2] - Holders of the notes can require MARA to repurchase their notes on January 4, 2030, under certain conditions [3] - The notes will be convertible into cash, shares of MARA's common stock, or a combination thereof, with specific conversion conditions prior to May 1, 2032 [4] Group 2: Financial Projections - MARA estimates net proceeds from the sale of the notes to be approximately $940.5 million, or $1,138.5 million if the option for additional notes is fully exercised [6] - Approximately $18.3 million of the net proceeds will be used to repurchase existing 1.00% convertible senior notes due 2026, with the remainder allocated for capped call transactions, bitcoin acquisition, and general corporate purposes [7] Group 3: Capped Call Transactions - MARA has entered into capped call transactions to reduce potential dilution upon conversion of the notes, with an initial cap price of approximately $24.14 per share [10][11] - The capped call transactions are expected to cover the number of shares underlying the notes sold in the offering, subject to anti-dilution adjustments [10] Group 4: Market Activity - The initial purchasers and their affiliates may engage in market activities that could affect the market price of MARA's common stock and the notes, potentially impacting the conversion process [12]

Shares of MARA Holdings (MARA -11.72%) are falling on Wednesday, down 13.8% as of 2:58 p.m. ET. The drop comes as the S&P 500 and Nasdaq Composite gained 0.7% and 0.5%, respectively.The Bitcoin mining company's stock is falling today after the company announced a private offering of $850 million, sparking fears of dilution.MARA's financial moveThe company announced it intends to initiate a $850 million private offering with convertible notes due in 2032. Initial purchasers may be granted an option to acquir ...

MARA Stock Dives as Bitcoin Miner Reveals Plan to Raise $850 Million to Buy More BTC► https://t.co/eR3ofI3hcE https://t.co/eR3ofI3hcE ...