Core Insights - Crypto-related stocks have seen diminished interest despite Bitcoin's stability near key resistance levels, indicating a potential breakout opportunity [1][2] - The rise of Bitcoin ETFs, such as the iShares Bitcoin Trust, may have diverted investor attention from mining stocks [3] Bitcoin Performance - Bitcoin has experienced an 8.7% decline over the past six months but remains up 143% year-over-year and 44% year-to-date [2] - The current trading range for Bitcoin is between $22.02 and $41.99, with a recent price of $35.97 [2] Marathon Digital Holdings (MARA) - MARA's stock has dropped over 20% in the last six months and more than 30% year-to-date, underperforming Bitcoin [3][5] - The company reported a quarterly loss of ($0.72) per share, significantly worse than the expected ($0.23), with revenue at $145.14 million versus an expected $157.86 million [4] - Analysts maintain a consensus Hold rating with a price target of $19.61, suggesting a potential upside of 21.5% [5] Riot Platforms (RIOT) - RIOT's stock has fallen nearly 40% in the past six months and is down 60% from its 52-week high [6] - The latest earnings report showed a loss of ($0.32) per share, double the expected ($0.16) loss, with revenue at $70 million, down 8.7% year-over-year [6] - Analysts have a Buy consensus with a price target of $16.60, indicating over 100% potential upside [7] Analyst Sentiment - Despite the underperformance of both MARA and RIOT compared to Bitcoin, analysts express cautious optimism regarding their long-term potential [8] - Investors are advised to closely monitor Bitcoin's price action, as a breakout may be necessary for these stocks to regain strength [8]

Company Performance - Marathon Digital Holdings, Inc. (MARA) ended the latest trading session at $16.14, reflecting a -1.65% change from the previous close, which is less than the S&P 500's daily loss of 0.19% [1] - The stock has decreased by 7.55% over the past month, underperforming the Business Services sector's gain of 4.37% and the S&P 500's gain of 1.95% [1] Upcoming Earnings - The company is projected to report earnings of -$0.34 per share, indicating a year-over-year decline of 580% [2] - Revenue is expected to be $157.52 million, representing a 60.98% increase compared to the same quarter last year [2] Annual Forecast - For the entire year, the Zacks Consensus Estimates forecast earnings of -$0.22 per share and revenue of $652.57 million, reflecting changes of -229.41% and +68.4% respectively compared to the previous year [3] Analyst Revisions - Recent revisions to analyst forecasts for Marathon Digital Holdings, Inc. should be monitored, as they reflect short-term business trends and can indicate analysts' confidence in the company's performance [4] Zacks Rank and Industry Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently ranks Marathon Digital Holdings, Inc. at 4 (Sell) [6] - Over the last 30 days, the Zacks Consensus EPS estimate has decreased by 1.92% [6] - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 68, placing it in the top 27% of over 250 industries [7]

Market Overview - Crypto stocks rebounded this week following the release of significant economic data and a presidential debate, recovering from losses experienced in the previous week when the S&P 500 had its worst performance since March 2023 [1] - The price of Bitcoin, which is correlated with several crypto stocks, remained resilient despite negative economic and political news [3] Company-Specific Developments - Shares of Bitcoin miners Riot Platforms and MARA Holdings increased approximately 10% and 17% respectively, while MicroStrategy's shares rose about 15% this week [2] - Barclays initiated coverage of MicroStrategy with an overweight rating, highlighting the company's dual exposure to Bitcoin and its potential for higher margins in its software business [7] - Analysts view MicroStrategy as a Bitcoin index fund that can also generate its own investment capital, providing investors with both Bitcoin exposure and self-funded accumulation opportunities [8] Economic Context - The Consumer Price Index met expectations, and the dollar strengthened, events that typically do not favor Bitcoin and crypto stocks [4] - Analysts at Standard Chartered suggest that Bitcoin could perform well regardless of the election outcome, predicting Bitcoin prices of $125,000 if Trump is elected and $75,000 if Harris wins [6] - The broader crypto industry is experiencing a rebound, supported by a stable economy and expectations of interest rate cuts by the Federal Reserve, which could lead to a weaker U.S. dollar and a favorable environment for Bitcoin [9][10]

Core Viewpoint - Marathon Digital Holdings, Inc. (MARA) has experienced a significant decline in stock performance, returning -20.4% over the past month, contrasting with the S&P 500's +6.2% and the Technology Services industry's +11.4% [1] Earnings Estimate Revisions - The consensus estimate for Marathon Digital's current quarter is a loss of $0.33 per share, reflecting a year-over-year change of -560% [4] - For the current fiscal year, the consensus earnings estimate is -$0.20, indicating a change of -217.7% from the previous year [4] - The next fiscal year's consensus estimate of -$0.72 shows a change of -258.8% compared to the prior year [5] - Over the last 30 days, the consensus estimates have changed positively by +10.9% for the current quarter and +24.1% for the current fiscal year [4][5] Revenue Growth Forecast - The consensus sales estimate for the current quarter is $158.74 million, representing a year-over-year increase of +62.2% [8] - For the current fiscal year, the sales estimate is $655.64 million, indicating a +69.2% change, while the next fiscal year's estimate is $876.03 million, reflecting a +33.6% change [8] Last Reported Results and Surprise History - In the last reported quarter, Marathon Digital generated revenues of $145.14 million, a year-over-year increase of +77.5% [9] - The EPS for the same period was -$0.24, compared to -$0.13 a year ago [9] - The company reported revenues below the Zacks Consensus Estimate of $161.04 million, resulting in a surprise of -9.87% [10] - The company has not beaten consensus EPS estimates in any of the last four quarters and has only topped revenue estimates once during this period [10] Valuation - Marathon Digital is graded F in the Zacks Value Style Score, indicating it is trading at a premium compared to its peers [14] - Valuation multiples such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF) are essential for assessing whether the stock is overvalued, rightly valued, or undervalued [12][13] Conclusion - The current Zacks Rank of 3 suggests that Marathon Digital may perform in line with the broader market in the near term [15]

Energized Hash Rate Increases 11% M/M to 35.2 EH/s 196 Blocks Won in August, 2% Decrease M/M Increased BTC Holdings to 25,945 BTC Fort Lauderdale, FL, Sept. 04, 2024 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) ("MARA" or the "Company"), one of the world's largest publicly traded bitcoin ("BTC") miners and a leader in supporting and securing the Bitcoin ecosystem, today published unaudited BTC production and miner installation updates for August 2024. Management Commentary "During the month of Aug ...

Core Viewpoint - Marathon Digital Holdings Inc. has experienced significant volatility, with a year-to-date decline of 18.49% but a yearly increase of 75.99%, attracting investor interest in the blockchain sector [1]. Stock Performance - The stock is currently trading at $18.69, which is below its 50-day simple moving average (SMA) of $19.52 and its 200-day SMA of $19.32, indicating a potential downtrend [3]. - In the past month, the stock has decreased by 13.32%, raising concerns about its future price action [1]. Technical Indicators - A death cross is approaching, characterized by the 50-day SMA falling below the 200-day SMA, which is typically seen as a bearish signal [2]. - The Moving Average Convergence Divergence (MACD) indicator is at -0.81, suggesting a bearish outlook [5]. - The relative strength index (RSI) stands at 53.11, indicating it is near the neutral zone, suggesting potential for movement but not a strong buying signal [5]. Short-term Outlook - Short-term indicators appear bullish, with the stock trading above the eight-day SMA of $16.61 and the 20-day SMA of $17.16 [4]. - The Bollinger Bands indicate a volatility range between $13.44 and $22.66, suggesting the stock could either break out or break down [6]. Conclusion - The mixed signals from various technical indicators suggest that the future direction of Marathon Digital's stock remains uncertain, prompting cautious investors to monitor the situation closely [6].

As you can see on the chart, over the past few days, shares of MARA "broke" or crossed the downtrend line. The downtrend that started a month ago in Marathon Digital Holdings, Inc. MARA may have ended. It has broken the downtrend line. It has also formed a potential 'Rounded Bottom' on the chart. Both of these dynamics may have bullish implications. This is why we have identified MARA as our stock of the day. If a stock is moving lower, the first thing that must happen before it moves higher is for it to st ...

Fort Lauderdale, FL, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Marathon Digital 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 of its offering of 2.125% convertible senior notes due 2031 (the "notes"). The aggregate principal amount of the notes sold in the offering was $300 million, which includes $50 million aggregate principal amount of notes issued pursuant to an option to purchase, wi ...

Proceeds to be used primarily to acquire bitcoin and for general corporate purposes Fort Lauderdale, FL, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Marathon Digital 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, $250 million aggregate principal amount of convertible senior notes due 2031 (the "notes") in a private offering to per ...

201 Blocks Won in July, 27% Increase M/M BTC Production of 692 BTC, 17% Increase M/M Increased BTC Holdings to 20,818 BTC; Total Cash and BTC of $1.6B as of July 31, 2024 Fort Lauderdale, FL, Aug. 06, 2024 (GLOBE NEWSWIRE) -- MARA (NASDAQ: MARA) ("MARA" or the "Company"), one of the world's largest publicly traded bitcoin ("BTC") miners and a leader in supporting and securing the Bitcoin ecosystem, today published unaudited BTC production and miner installation updates for July 2024. Management Commentary " ...