Core Viewpoint - MARA Holdings, Inc. plans to offer $850 million of 0.00% convertible senior notes due 2032, with an option for an additional $150 million, subject to market conditions [1][2] Group 1: Offering Details - The notes will be unsecured and are not expected to bear regular interest, with special interest payable semi-annually starting February 1, 2026 [2] - The notes will mature on August 1, 2032, and can be redeemed by MARA starting January 15, 2030, under certain conditions [2] - Holders can require MARA to repurchase their notes on January 4, 2030, if the stock price is below the conversion price [2] Group 2: Use of Proceeds - MARA intends to use up to $50 million of the net proceeds to repurchase existing 1.00% convertible senior notes due 2026, with the remainder for capped call transactions, acquiring bitcoin, and general corporate purposes [3] Group 3: Market Impact - 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 [4] - Capped call transactions are expected to reduce dilution upon conversion of the notes and offset cash payments exceeding the principal amount [5] Group 4: Regulatory Compliance - The notes will be offered to qualified institutional buyers under Rule 144A of the Securities Act, and the offering has not been registered under the Securities Act [7]

Core Viewpoint - MARA Holdings, Inc. will hold a webcast and conference call on July 29, 2025, to discuss its financial results for the quarter ended June 30, 2025 [1] Group 1: Earnings Call Details - The earnings call is scheduled for July 29, 2025, at 5:00 p.m. Eastern time [4] - Financial results will be published in a shareholder letter prior to the call on the investor relations section of the Company's website [1] - Verified retail and institutional shareholders can submit and upvote questions ahead of the earnings call, with the Q&A platform opening on July 21 and closing on July 28 [3] Group 2: Company Overview - MARA Holdings, Inc. is a leading digital energy and infrastructure company that deploys digital energy technologies to advance global energy systems [5] - The company transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure [5] - MARA develops technologies aimed at reducing the energy demands of high-performance computing applications, including AI [5]

Core Insights - The article emphasizes that true wealth in the cryptocurrency market, particularly Bitcoin, is generated not by holding Bitcoin itself but by investing in companies that facilitate its availability, such as miners and refiners [2][3]. Company Analysis - Cleanspark Inc. is highlighted as offering the deepest discount to its 52-week high prices, presenting a significant opportunity for investors as Bitcoin prices rise [4]. - Cleanspark's stock forecast indicates a potential upside of 59.43%, with a 12-month price target of $20.38 based on analyst ratings [5]. - Institutional investors, like Vanguard Group, have increased their holdings in Cleanspark by 22.8%, indicating confidence in the company's future performance [7]. - Riot Platforms is also noted for its potential, with a 12-month stock price forecast of $17.35, suggesting a 25.18% upside [11]. - Riot Platforms has reported a net loss per share of $0.90, but forecasts predict improvement, which could lead to higher stock prices [12]. - Marathon Digital Holdings, with a market cap of $4.9 billion, is attracting more institutional interest and has a stock forecast of $20.94, indicating a 7.35% upside [14][16]. Market Trends - The article draws parallels between the current cryptocurrency market and historical commodity booms, suggesting that investing in the infrastructure supporting these assets can yield greater returns than the assets themselves [1][2]. - The smaller market capitalization of companies like Cleanspark and Riot Platforms limits their media exposure, which may present hidden opportunities for investors [10].

JUST IN: MARA CEO says the Genius Act is BULLISH for BitcoinMARA is the second largest publicly traded Bitcoin holder with 50,000 $BTC https://t.co/PLTxp6rvPs ...

Core Viewpoint - The investment strategy focuses on a balanced portfolio between low-cost funds and individual stocks, emphasizing long-term holding and understanding market dynamics beyond mere financial metrics [1] Group 1: Investment Strategy - The portfolio is approximately 50% in low-cost funds and 50% in single stocks, reflecting a balanced investment approach [1] - The investment philosophy prioritizes holding stocks for at least 10 years, avoiding market timing [1] - The analysis of stocks goes beyond P/E ratios, focusing on supply and demand dynamics and predicting human behavior [1] Group 2: Market Perspective - The market is viewed as a meeting point of demand and supply, with a strong emphasis on understanding market sentiment and momentum [1] - There is a belief that many investors do not fully grasp the forward-looking nature of the market [1] - The approach to investing requires creativity, curiosity, and a willingness to go against prevailing trends [1] Group 3: Current Investment Focus - The current bullish outlook includes companies such as AMD, PLTR, TSLA, as well as broad US equities and Bitcoin [1]

Investment & Strategy - MARA deepens ties with Two Prime through a $20 million equity stake [1] - MARA is doubling down on its bitcoin yield strategy [1]

Group 1: Cryptocurrency Market Overview - The U.S. dollar has decreased by 10.7% against other currencies in the first half of 2023, marking its worst performance in over 50 years, prompting investors to seek alternative investments [1] - Cryptocurrencies, despite their volatility, are seen by some investors, including BlackRock CEO Larry Fink, as having the potential to become a new reserve currency, possibly overtaking the U.S. dollar [1] - The increase in the debt ceiling by several trillion dollars may provide secondary benefits to cryptocurrencies [1] Group 2: Cryptocurrency-Adjacent Stocks - Investors looking for exposure to the cryptocurrency space may consider stocks of companies involved in crypto mining or providing infrastructure and hardware for the industry [2] - One notable firm has successfully pivoted towards energy sales, showcasing the potential for diversification within the sector [2] Group 3: Marathon Digital Holdings - Marathon Digital (NASDAQ: MARA) is one of the largest crypto mining firms in the U.S., with a market value exceeding $6 billion and a significant mining fleet [3] - In June, Marathon won 211 Bitcoin blocks, accounting for over 5% of all available Bitcoin rewards that month, leading to a 6% increase in its stock price over the last month [3][6] - The company aims to achieve a production target of 75 exahashes per second by year-end, which is 40% higher than its hash rate at the end of 2024 [4] - As of the end of June, Marathon held nearly 48,000 BTC, valued at approximately $5.2 billion, representing a significant portion of its market value [5] Group 4: Cipher Mining - Cipher Mining (NASDAQ: CIFR) is another major player in Bitcoin mining, with a recent share price increase of about 47% due to positive performance news [8] - In Q2, Cipher exceeded its self-mining capacity guidance at its new Black Pearl site in Texas, reporting a hash rate of 3.4 EH/s, significantly above the predicted 2.5 EH/s [9] - Analysts have provided 11 Buy ratings for CIFR shares, forecasting an upside of 26% [10] Group 5: Hut 8 Mining Corp - Hut 8 (NASDAQ: HUT) has seen its shares double in price since late April, driven by its expansion into Dubai and a partnership with American Bitcoin Corp. that raised $220 million [12][13] - The company has successfully deployed energy infrastructure that can be utilized for both mining and traditional applications, securing five-year capacity contracts for 310 MW of power generation [13] - Hut 8 has received unanimous Buy ratings from all 19 analysts, with a projected upside of 21% [14]

Core Insights - MARA has appointed Nir Rikovitch as Chief Product Officer to lead the company's product strategy and commercialize its technology into market-ready products [1][2] - Rikovitch's role will involve building the product discipline, focusing on the roadmap for products and engineering to deliver production-grade systems [2] - The CEO of MARA, Fred Thiel, emphasized Rikovitch's background in product leadership and autonomous technology as key to advancing MARA's product vision [3] Company Overview - MARA is a leading digital energy and infrastructure company that deploys digital energy technologies to enhance global energy systems [6] - The company transforms excess energy into digital capital, balancing the grid and accelerating critical infrastructure deployment [6] - MARA aims to reduce energy demands for high-performance computing applications, including AI and edge computing [6] Leadership Background - Nir Rikovitch has extensive experience in product management, machine learning, and engineering leadership, with a successful track record in intelligent infrastructure development [3] - Prior to joining MARA, Rikovitch was Director of Product Management at Blue River, where he co-founded the autonomy unit and led product strategy, generating over $500 million in revenue [3] Future Directions - Rikovitch expressed a commitment to integrating smarter energy practices with scalable solutions at MARA [4] - The company is actively hiring across various roles in product, engineering, and systems design to support its growth [4][5]

🔥 UPDATE: MARA now holds 50,000 BTC. Its next target is 75 EH/s by year-end. https://t.co/wdqxkiRfAe ...

Core Insights - MARA Holdings' shares increased by 17.3% this week, primarily driven by its Bitcoin mining results for June [1] Group 1: Bitcoin Mining Performance - MARA Holdings won 211 blocks in June's Bitcoin mining operations, accounting for 5.4% of all available Bitcoin mining rewards [2][4] - The current reward for mining a block is 3.125 Bitcoins, awarded approximately every 10 minutes [3] - The number of blocks won in June was 23% lower than May's total of 282, attributed to a shorter month and temporary shutdowns of mining rigs due to weather [5] Group 2: Future Production Targets - Management has set a year-end production target of 75 exahashes per second (EH/s), which is 40% higher than the 53 EH/s achieved at the end of 2024 and 31% more than the current rate of 57.4 EH/s [5] Group 3: Bitcoin Holdings and Market Capitalization - By the end of June, MARA held 47,940 Bitcoins, making it the second-largest public company in terms of Bitcoin holdings, following Michael Saylor's Strategy [6] - The current value of MARA's Bitcoin holdings is approximately $5.47 billion, representing over 88% of the company's total market capitalization [7]