据 The Block 报道，挪威政府养老基金在 2025 年通过持有加密相关上市公司股票，获得约 9,573 枚 BTC 的间接敞口，同比增长约 149%。该敞口主要来自对 Coinbase、Marathon Digital、Metaplanet 等公 司的投资，属于间接持有，并非基金直接配置比特币。 （来源：吴说） ...

Key Takeaways MARA posted $252M in Q3 revenues, up 92% Y/Y, as energized hashrate climbed to 60.4 EH/s across 18 sites.By owning about 70% of capacity, MARA aims to cut costs and reduce third-party reliance.MARA remains high risk as results hinge on Bitcoin prices, large BTC holdings and no plans for cash dividends.MARA Holdings, Inc. (MARA) is benefiting from vertical integration, strategic expansion, and rising operational efficiency in Bitcoin mining, supported by a strong liquidity position. The company ...

Company Performance - Marathon Digital Holdings, Inc. (MARA) closed at $10.56, reflecting a +1.83% increase from the previous day, outperforming the S&P 500 which gained 1.16% [1] - Over the past month, shares of the company have increased by 5.17%, while the Finance sector experienced a loss of 0.5% and the S&P 500 declined by 0.42% [1] Earnings Expectations - The upcoming earnings release is expected to show an EPS of -$0.23, representing a 118.55% decline compared to the same quarter last year [2] - Revenue is forecasted to be $241.04 million, indicating a 12.43% growth year-over-year [2] - For the entire fiscal year, earnings are projected at -$0.23 per share and revenue at $944.89 million, reflecting a -113.37% change in earnings and no change in revenue compared to the prior year [3] Analyst Estimates and Rankings - Recent modifications to analyst estimates for Marathon Digital Holdings, Inc. are crucial as they reflect short-term business dynamics, with positive revisions indicating optimism about the business outlook [4] - The Zacks Rank system, which incorporates estimate changes, currently ranks Marathon Digital Holdings, Inc. as a 4 (Sell) [6] - The Zacks Industry Rank for the Financial - Miscellaneous Services industry is 100, placing it in the top 41% of all industries, suggesting that top-rated industries outperform lower-rated ones by a factor of 2 to 1 [7]

We recently published 10 Stocks Investors Are Dumping. MARA Holdings Inc. (NASDAQ:MARA) was one of the worst performers on Tuesday. MARA Holdings Inc. (NASDAQ:MARA) fell by 8.71 percent on Tuesday to finish at $10.37 apiece as investors disposed of shares to mitigate risks from the ongoing geopolitical tensions between the US and Europe, having announced a tit-for-tat tariff in relation to their opposing views on the acquisition of Greenland. MARA Holdings Inc. (NASDAQ:MARA) mirrored the broader market p ...

Group 1 - The decline in Bitcoin prices has negatively impacted cryptocurrency-related stocks, with significant drops observed in companies like Strategy, SharpLink Gaming, and MARA Holdings, which fell more than the broader market [1][2] - Bitcoin's price fell below $90,000, reaching a low of $89,281, while Ethereum dropped below $3,000, leading to increased trading activity with a 14% rise in Bitcoin's 24-hour trading volume to $68.6 billion [1] - The market is experiencing heightened volatility due to the recent geopolitical uncertainties, particularly related to Trump's tariff proposals, which add pressure to the already fragile market conditions [2] Group 2 - Strategy announced a $2.1 billion investment to increase its Bitcoin holdings, yet its stock price fell over 6% to $160.23 after opening [2] - SharpLink Gaming's stock dropped by 9.59% to $9.945, despite holding approximately $2.4 billion in Ethereum, which the CEO referred to as "permanent capital" [2] - MARA Holdings' stock decreased by 8.71% to $10.37, following a recent agreement with MPLX for natural gas supply to its Texas data center [2] Group 3 - Analysts suggest that the decline in Bitcoin prices tends to have a more pronounced effect on mining companies' stock prices, indicating that the current drop is more of a consolidation phase rather than a free-fall [3] - The psychological support level at $90,000 is critical; failure to maintain this level could lead to a potential test of the $85,000 mark [3]

Group 1 - The decline in Bitcoin prices has negatively impacted cryptocurrency-related stocks, with significant drops observed in companies like Strategy, SharpLink Gaming, and MARA Holdings, which fell more than the broader market [1][2] - Bitcoin's price fell below $90,000, reaching a low of $89,281, while Ethereum dropped below $3,000, leading to increased trading activity with a 14% rise in Bitcoin's 24-hour trading volume to $68.6 billion [1] - The market is also reacting to geopolitical uncertainties, particularly related to tariffs proposed by former President Trump, which adds pressure to the already volatile environment [2] Group 2 - Strategy announced a $2.1 billion investment in Bitcoin but still saw its stock price drop over 6% to close at $160.23 [2] - SharpLink Gaming's stock fell by 9.59% to $9.945, despite holding approximately $2.4 billion in Ethereum, which the CEO described as "permanent capital" [2] - MARA Holdings experienced an 8.71% decline in stock price to $10.37, despite plans to supply natural gas for its Texas data center [2] Group 3 - Analysts suggest that the drop in Bitcoin prices tends to have a more significant impact on mining companies' stock prices, indicating that the current decline may not signal a "free-fall" but rather a consolidation phase [3] - The psychological support level at $90,000 is crucial, as failure to maintain this level could lead to a potential test of the $85,000 mark [3]

Market Overview - Bitcoin mining stocks opened lower as Bitcoin's price retreated to a critical support level, trading at $90,489, down 2.28% over 24 hours, which negatively impacted mining stock valuations [1] - Major operators like MARA and Riot erased recent gains, reflecting a broader decline in cryptocurrency markets [1] Stock Performance - MARA led the losses, with shares falling 6.87% to $10.58, while Riot dropped 5.09% to $18.26 [2] - Other miners also experienced significant declines: IREN down 4.88% to $55.00, CleanSpark down 4.79% to $12.73, and Applied Digital down 6.36% to $35.02 [2] - Additional industry players recorded similar losses: Cipher down 4.79% to $17.90, Core Scientific down 4.16% to $18.11, TeraWulf down 3.10% to $13.42, and Hut 8 down 5.22% to $56.54 [3] Strategic Shifts - Bitcoin miners are increasingly attempting to decouple their stock performance from Bitcoin prices by pivoting towards high-performance computing (HPC) and AI [4] - Companies like Cipher, TeraWulf, IREN, Galaxy, and Hut 8 have signed major deals with hyperscalers or AI tech firms to support this shift [4] Recent Developments - Riot recently secured its first HPC/AI deal, acquiring its Rockdale site and entering a $311 million lease agreement with AMD, with potential contract extensions valued at approximately $1 billion [5] - CleanSpark's infrastructure advantages were noted by analysts, highlighting the value of its power assets for AI applications due to their proximity to major metropolitan areas [6] - HIVE announced plans to diversify its revenue and expand its power capacity with a 100-megawatt expansion in Paraguay, expected to be completed by 2026 [6]

Group 1 - Bitcoin-related stocks experienced a widespread decline before the US stock market opened on Tuesday, with Bitcoin dropping below the $91,000 mark, reaching a low of $90,679 [1] - Strategy (MSTR.US) fell over 5%, while Coinbase (COIN.US) and Circle (CRCL.US) both dropped more than 4%, and Mara Holdings (MARA.US) decreased by over 4.7%, with IREN Ltd (IREN.US) declining more than 6% [1]

Core Insights - MARA Holdings, Inc. (MARA) stock has increased by over 7% in the past month, while the industry has seen a decline of 2% [2][9] - The company's third-quarter performance indicates a shift beyond Bitcoin mining, with the introduction of AI inference infrastructure and enhanced energy partnerships [2][3] Diversification and Growth Strategy - MARA is transitioning from traditional cryptocurrency mining to a more integrated digital infrastructure that supports both blockchain and AI computing workloads [3] - The installation of the first AI inference racks at the Granbury site demonstrates the company's readiness to support operations for both Bitcoin and AI inference [3] - MARA is expanding its energy control footprint through partnerships in West Texas, aiming for 50% of total revenues from international markets by 2028, which enhances geographic diversification [4] Future Outlook - The company plans to integrate energy generation, blockchain validation, and AI processing into a single operational ecosystem, focusing on cost-efficient, high-capacity energy infrastructure [5] - Innovations in data center design, such as direct-to-chip cooling, are being emphasized to improve scalability and reduce long-term maintenance costs, positioning MARA to leverage its energy expertise in high-performance computing applications [6]

Core Viewpoint - The article discusses the phenomenon of heavily shorted stocks, highlighting the reasons traders engage in short selling and the potential for short squeezes to create significant price movements in the market [2][3][4]. Group 1: Reasons for Heavy Shorting - Stocks become heavily shorted when experienced traders and institutional investors believe the company is fundamentally overvalued, anticipating a decline in its price [2]. - High short interest indicates a strong conviction among professional traders that the company faces serious risks [2]. Group 2: Short Squeeze Dynamics - Bullish traders, often retail investors, see high short interest as an opportunity for rapid gains through a short squeeze, which occurs when rising stock prices force short sellers to buy back shares, creating a feedback loop that drives prices even higher [3][4]. - The volatility associated with short squeezes can lead to returns that significantly exceed typical stock movements in a short time frame [4]. Group 3: Most Shorted Stocks - As of January 16, 2026, the top 10 most shorted stocks include: - Choice Hotels International, Inc. (CHH) with a short interest of 56.33% - Lucid Group, Inc. (LCID) at 54.45% - Avis Budget Group, Inc. (CAR) at 52.38% - Other notable companies include PureCycle Technologies, Inc. (PCT), Under Armour, Inc. (UAA), and Revolve Group, Inc. (RVLV) with short interests ranging from 39.22% to 41.89% [5][6][7].