Marathon-Are Crypto Stocks Still Worth Watching as Bitcoin Consolidates?

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]