Mara Holdings (MARA -6.53%) is going all-in on the world's top cryptocurrency, and many investors aren't happy about it. The company's stock closed Monday almost 7% lower following news that it would aggressively pursue more Bitcoin (BTC -1.65%) mining and purchasing, fueled partially by a new round of capital raising. This contrasted notably with the rise of the S&P 500 index, which ended the day more than 0.2% higher.Busy Bitcoin bullsIt was a busy news days for Mara with the release of its monthly produc ...

Proceeds to be used primarily to acquire bitcoin and repurchase existing convertible notes due 2026 Fort Lauderdale, FL, Dec. 02, 2024 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the “Company”), a global leader in leveraging digital asset compute to support the energy transformation, today announced that it intends to offer, subject to market conditions and other factors, $700 million aggregate principal amount of 0.00% convertible senior notes due 2031 (the “notes”) in a private offer ...

Proceeds to be used primarily to acquire bitcoin and repurchase existing convertible notes due 2026 Fort Lauderdale, FL, Nov. 21, 2024 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the “Company”), a global leader in leveraging digital asset compute to support the energy transformation, today announced the closing on November 20, 2024 of its offering of 0.00% convertible senior notes due 2030 (the “notes”). The aggregate principal amount of the notes sold in the offering was $1 billion, w ...

Small deep value individual investor, with a modest private investment portfolio, split approx. 50%-50% between shares and call options. I have a B.Sc. in aeronautical engineering and over 6 years of experience as an engineering consultant in the aerospace sector. The latter statement is not relevant in any way whatsoever to my investment style, but I thought to add it for self-indulgent purposes. I have a contrarian investment style, highly risky, and often dealing with illiquid options. How illiquid? Well ...

Proceeds to be used primarily to acquire bitcoin and repurchase existing convertible notes due 2026 Fort Lauderdale, FL, Nov. 18, 2024 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the “Company”), a global leader in leveraging digital asset compute to support the energy transformation, today announced the pricing of its offering of $850 million aggregate principal amount of 0.00% convertible senior notes due 2030 (the “notes”). The notes will be sold in a private offering to persons reas ...

Proceeds to be used primarily to acquire bitcoin, repurchase existing convertible notes due 2026 and for general corporate purposes Fort Lauderdale, FL, Nov. 18, 2024 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the “Company”), a global leader in leveraging digital asset compute to support the energy transformation, today announced that it intends to offer, subject to market conditions and other factors, $700 million aggregate principal amount of convertible senior notes due 2030 (the “ ...

Core Insights - Mara Holdings, the parent company of Bitcoin miner Marathon Digital, reported third-quarter results that missed analysts' estimates, leading to a significant net loss of $124.8 million, which was nearly $50 million larger than expected [1][2] - The company's revenue for the quarter was $131.6 million, an increase from $97.8 million year-over-year, but below the anticipated $146.7 million [2] - Following the results, Mara Holdings' stock experienced a decline of over 2% in early trading, although it has risen approximately 46% since election day [5] Financial Performance - Revenue for the third quarter was reported at $131.6 million, up from $97.8 million in the same period last year, but fell short of the $146.7 million forecast by analysts [2] - The net loss of $124.8 million was significantly higher than the consensus estimate of $76.3 million, indicating a larger-than-expected financial setback [2] Bitcoin Acquisition and Strategy - During the quarter, the company acquired over 8,000 bitcoins, consisting of 2,070 bitcoins mined and 6,210 bitcoins purchased, bringing total holdings to 26,747 bitcoins valued at over $2.4 billion [3] - The company continues to implement a policy of not selling bitcoin, opting instead to hold any new bitcoin mined or purchased, reflecting confidence in the long-term value of Bitcoin as a treasury reserve asset [4] Market Context - The cryptocurrency industry, including Mara Holdings, experienced a surge in stock prices following the recent U.S. election, with expectations that a Trump administration would be more favorable to cryptocurrency compared to the previous administration [4]

Bitcoin (BTC) is up about 25% since the presidential election on November 7. The headline stories will focus on the fact that BTC is hitting new all-time highs on a regular basis. However, it’s important to note that Bitcoin’s new highs are also inflation-adjusted highs.   If you’re an owner (or hodler), this rally feels like the vindication you’ve been waiting for. And if you’re a skeptic, it may be worth more than a passing glance.  The reality is somewhere in between. But price action like this is even m ...

Financial Data and Key Metrics Changes - The energized hash rate increased by 93% to 36.9 exahash per second in Q3 2024 compared to Q3 2023, with over 40 exahash already achieved [56] - Revenues increased by 35% compared to the same quarter last year, despite challenges from Bitcoin price fluctuations and global hash rate increases [57] - Cash cost of revenue decreased by 18% from $45.2 per petahash per day in Q3 2023 to $37.1 in Q3 2024, reflecting the strategy towards near-zero energy costs [60][61] Business Line Data and Key Metrics Changes - The acquisition of data centers is expected to increase total owned and operated compute capacity by over 70%, with a total nameplate capacity now just under 1.5 gigawatts [13][14] - The company secured approximately 1 gigawatt of nameplate capacity through acquisitions and greenfield site developments in 2024 [14] Market Data and Key Metrics Changes - The company has begun developing a 150-megawatt operation in Findlay, Ohio, which already has 30 megawatts of capacity [9] - The company is diversifying its portfolio across multiple jurisdictions to ensure no single ISO contains more than 50% of its owned and operated capacity [10] Company Strategy and Development Direction - The company aims to position itself as one of the most cost-effective operators in the industry, focusing on lowering operational costs through owned and operated energy and data centers [10][19] - The strategy includes building more owned and operated generation capacity and partnering with AI companies for energy management [18][29] Management's Comments on Operating Environment and Future Outlook - Management believes that the period of low-cost growth is likely coming to an end, and companies will need to compete for capacity in a different way [26] - The company is focused on working with government branches to educate them on the benefits of Bitcoin mining for energy grid management [70] Other Important Information - The company holds over 27,000 Bitcoin, valued at approximately $2.5 billion, which provides financial flexibility and options for generating yield [62][24] - The company has a strong balance sheet, one of the strongest in the sector, which positions it well for future opportunities [64] Q&A Session Summary Question: How does the recent acquisition fit into MARA's strategy to drive energy costs to near zero? - The acquisition allows for significant operational cost reductions and aligns with the goal of lowering operational costs over time [16] Question: What flexibility does MARA have in using power from the Ohio sites? - The company can leverage power trading and hedges, providing flexibility in managing power costs [20] Question: Can you discuss MARA's HODL strategy regarding Bitcoin? - The company has purchased Bitcoin opportunistically, resulting in significant returns for shareholders, and plans to continue a hybrid strategy of buying and mining Bitcoin [22][23] Question: What are the highlights of MARA's overall financial performance? - The energized hash rate and revenues have significantly increased, while costs have decreased, demonstrating effective management and strategic growth [56][59] Question: How does MARA plan to capitalize on the experience of new Board members? - The company is focused on delivering high-value solutions and will leverage the expertise of new Board members to enhance operations [44][48]

分组1 - Marathon Digital Holdings, Inc. reported a quarterly loss of $0.38 per share, matching the Zacks Consensus Estimate, compared to a loss of $0.05 per share a year ago [1] - The company's revenues for the quarter ended September 2024 were $131.65 million, missing the Zacks Consensus Estimate by 11.13%, and up from $97.85 million year-over-year [2] - Over the last four quarters, Marathon Digital has not surpassed consensus EPS estimates and has topped consensus revenue estimates only once [2][3] 分组2 - The stock has increased approximately 6.5% since the beginning of the year, while the S&P 500 has gained 25.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.33 on revenues of $172.57 million, and for the current fiscal year, it is -$0.21 on revenues of $556.03 million [7] - The Zacks Industry Rank for Technology Services is in the top 26% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]