MARA Holdings, Inc. (MARA) Bounces to Profitability on Bitcoin Surge and Expansion into AI Market

Core Viewpoint - MARA Holdings Inc. is recognized as a promising long-term investment in the cryptocurrency sector, with a recent Hold rating and a price target of $23 from Bernstein [1]. Financial Performance - In Q3, MARA Holdings reported a significant revenue increase of 92% year-over-year, reaching $252 million, driven by a 98% surge in Bitcoin holdings to 52,850 from 26,747 [2]. - The company returned to profitability with a net income of $123 million, or $0.27 per share, a notable recovery from a net loss of $125 million, or $0.42 per share, in the same quarter last year [3]. - Adjusted EBITDA soared by 1,671% to $395.6 million, highlighting the company's strong financial turnaround [3]. Strategic Expansion - MARA Holdings is expanding into the global artificial intelligence market through an investment in Exaion, which operates secure, low-carbon cloud data centers, enhancing its digital energy offerings and creating high-margin cash flow opportunities [4]. - The company is evolving from a Bitcoin mining operation to a digital infrastructure provider, leveraging its energy and data center capabilities for AI applications [5]. Company Overview - MARA Holdings, Inc. specializes in Bitcoin mining and related digital infrastructure, operating data centers for Bitcoin mining and holding a substantial Bitcoin treasury while addressing energy and data center challenges [6].