#4 - Marathon Holdings (NASDAQ:MARA)
Markets tend to be agnostic about an election's outcome. That said, Marathon Digital Holdings Inc. (NASDAQ: MARA) is clearly part of a Trump trade. With Donald Trump and, more importantly, his running mate, JD Vance, promoting a crypto-friendly administration, some investors think that a Trump-Vance administration would support an expansionary regulatory policy for Bitcoin and other digital currencies.
That belief had shares of MARA shooting up nearly 40% during the week of the Republican National Convention in July. However, that surge is mainly gone. That means the fortunes of the world’s largest Bitcoin miner will ultimately come down to the price of Bitcoin. That’s been a volatile but mostly profitable trade this year. And Marathon’s operational hash rate (which measures the computational power of its blockchain network) has surged 106% year-over-year.
From a fundamental perspective, Marathon is sitting on a healthy $1.15 billion in cash as it prepares to expand into mining other tokens. The company is not profitable and won’t be anytime soon, but lower interest rates will make that more palatable for investors, particularly if it continues to grow its YOY revenue.
About MARA
MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.
- Current Price
- $26.35
- Consensus Rating
- Hold
- Ratings Breakdown
- 4 Buy Ratings, 5 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $23.33 (11.4% Downside)
