Jefferies recently lowered the recommendation for Marathon Digital Holding's shares to $17.
They claim that Bitcoin mining became less profitable in July and may continue to decline in the coming months.
Bitcoin (BTC)
mining profitability experienced a slight decline in July compared to the
previous month, according to a recent report from investment bank Jefferies.
The
analysis points to a drop in Bitcoin's price as the primary factor impacting
miners' margins. As a result, the institution decided to lower the target price
for the largest Bitcoin miner on Wall Street, Marathon Digital Holdings
(Nasdaq: MARA), by over 20%.
Bitcoin Mining
Profitability Dips in July, Jefferies Reports
The
cryptocurrency's value fell by over 6% in July, while the network's hashrate—a measure of computational power dedicated to mining—remained relatively
stable. This combination of factors put pressure on mining operations, despite
an increase in production share for US-listed companies.
Jefferies
analysts noted that publicly traded mining firms expanded their collective
output, capturing 21.1% of total Bitcoin production in July, up from 20.7% in
June. This growth in market share was attributed to these companies bringing
new capacity online at a faster rate than the overall network expansion.
Marathon
Digital Holdings, a prominent player in the sector, stood out with a notable
increase in production. The company mined 692 bitcoins in July, representing a
17% month-over-month rise. Marathon continues to lead the industry in terms of
installed hashrate capacity.
Looking
ahead, Jefferies anticipates more challenging conditions for miners in August.
The bank's report highlights a further 5% decline in Bitcoin's price since the
beginning of the month, coupled with renewed growth in network hashrate, which
could squeeze profit margins even tighter.
In light of
these developments, Jefferies has adjusted its outlook on Marathon Digital. The
bank lowered its price target for the company's stock from $22 to $17 while
maintaining a “hold” rating.
Source: Google Finance
Is
Jefferies right? Time will tell. For now, Marathon Digital Holdings is taking
steps to capitalize on lower Bitcoin prices by purchasing $249 million worth of
BTC.
Fred Thiel, CEO, MARA, Source: LinkedIn
“We
currently own and operate approximately 54% of the 1.1 gigawatts of power in
our diversified portfolio of digital asset compute,” commented Fred Thiel,
MARA's Chairman and CEO. “We will continue making owned and operated sites a
greater percentage of our fleet over time and expect to see cost savings on a
cost per petahash basis as this occurs. Longer-term, our intention is to be
amongst the lower cost operators in the industry.”
The
evolving landscape of Bitcoin mining underscores the industry's sensitivity to
cryptocurrency price fluctuations and network dynamics. As the sector continues
to mature, miners face the ongoing challenge of balancing operational costs
with volatile market conditions.
The Q2 2024
results published by HIVE Digital Technologies (NASDAQ: HIVE) and TeraWulf
(NASDAQ: WULF) showed that Bitcoin miners are able to withstand negative market
changes following the recent halving. HIVE increased its revenue by 37%, while
WULF saw a 130% increase.
Bitcoin (BTC)
mining profitability experienced a slight decline in July compared to the
previous month, according to a recent report from investment bank Jefferies.
The
analysis points to a drop in Bitcoin's price as the primary factor impacting
miners' margins. As a result, the institution decided to lower the target price
for the largest Bitcoin miner on Wall Street, Marathon Digital Holdings
(Nasdaq: MARA), by over 20%.
Bitcoin Mining
Profitability Dips in July, Jefferies Reports
The
cryptocurrency's value fell by over 6% in July, while the network's hashrate—a measure of computational power dedicated to mining—remained relatively
stable. This combination of factors put pressure on mining operations, despite
an increase in production share for US-listed companies.
Jefferies
analysts noted that publicly traded mining firms expanded their collective
output, capturing 21.1% of total Bitcoin production in July, up from 20.7% in
June. This growth in market share was attributed to these companies bringing
new capacity online at a faster rate than the overall network expansion.
Marathon
Digital Holdings, a prominent player in the sector, stood out with a notable
increase in production. The company mined 692 bitcoins in July, representing a
17% month-over-month rise. Marathon continues to lead the industry in terms of
installed hashrate capacity.
Looking
ahead, Jefferies anticipates more challenging conditions for miners in August.
The bank's report highlights a further 5% decline in Bitcoin's price since the
beginning of the month, coupled with renewed growth in network hashrate, which
could squeeze profit margins even tighter.
In light of
these developments, Jefferies has adjusted its outlook on Marathon Digital. The
bank lowered its price target for the company's stock from $22 to $17 while
maintaining a “hold” rating.
Source: Google Finance
Is
Jefferies right? Time will tell. For now, Marathon Digital Holdings is taking
steps to capitalize on lower Bitcoin prices by purchasing $249 million worth of
BTC.
Fred Thiel, CEO, MARA, Source: LinkedIn
“We
currently own and operate approximately 54% of the 1.1 gigawatts of power in
our diversified portfolio of digital asset compute,” commented Fred Thiel,
MARA's Chairman and CEO. “We will continue making owned and operated sites a
greater percentage of our fleet over time and expect to see cost savings on a
cost per petahash basis as this occurs. Longer-term, our intention is to be
amongst the lower cost operators in the industry.”
The
evolving landscape of Bitcoin mining underscores the industry's sensitivity to
cryptocurrency price fluctuations and network dynamics. As the sector continues
to mature, miners face the ongoing challenge of balancing operational costs
with volatile market conditions.
The Q2 2024
results published by HIVE Digital Technologies (NASDAQ: HIVE) and TeraWulf
(NASDAQ: WULF) showed that Bitcoin miners are able to withstand negative market
changes following the recent halving. HIVE increased its revenue by 37%, while
WULF saw a 130% increase.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
