MARA Holdings, Inc. (MARA) Target Lowered to $9 at Clear Street Amid Mining Challenges

Group 1 - Clear Street has lowered the price target for MARA Holdings, Inc. to $9 from $16 while maintaining a Hold rating, citing challenges in the bitcoin mining sector [1] - H.C. Wainwright downgraded MARA to Neutral from Buy and reduced its fiscal 2026 revenue forecast to $851.1 million from $954.8 million, reflecting a weaker outlook for bitcoin prices and network hashrate expectations [2] - MARA Holdings, Inc. was founded in 2010 and has shifted focus from a patent holding firm to large-scale bitcoin mining operations, while also exploring opportunities in high-performance computing and AI infrastructure [3] Group 2 - The company's strategic pivot towards AI and hyperscale data center infrastructure carries execution risks, with large leasing agreements historically taking time to materialize despite market demand [2] - There is a belief that certain AI stocks may offer greater upside potential and carry less downside risk compared to MARA [4]