Check Marathon Digital's AI plans and how they could lead to a potential rally in MARA stock.
According to Macquarie, the company's shares can jump to $22, testing mid-term highs.
Marathon
Digital Holdings, the largest publicly listed Bitcoin (BTC) miner on Wall
Street (NASDAQ: MARA),
has caught the attention of financial group Macquarie, which initiated coverage
of the company's shares with an “Outperform” rating. Due to the company's moves towards the artificial intelligence (AI) industry, the stock is expected to grow by nearly 50% in the coming weeks and months.
MARA Stock Poised to Rise
Towards $22, Boosted by AI Boom
On
September 24, 2024, Macquarie initiated coverage of Marathon Digital Holdings
with an “Outperform” recommendation. This positive outlook for MARA's
stock has garnered attention in the financial markets.
MARA Stock News: Price Target at $22. Source: Tradingview.com
However,
this is expected to change due to the company's moves towards AI, a trend
followed by an increasing number of firms in the mining sector. They focus on high-performance computing (HPC), as confirmed by a recent analysis
from investment management firm VanEck.
VanEck's head of digital assets research, Matthew Sigel
VanEck's
head of digital assets research, Matthew Sigel, estimates that this strategic
pivot could unlock $38 billion in value for mining companies by 2027.
“AI
companies need energy, and Bitcoin miners have it,” commented Sigel.
“As the market values the growing AI/HPC data center market, access to
power—especially in the near term—is commanding a premium.”
Although
MARA hasn't officially announced plans to shift its focus to AI, recent
personnel moves seem to confirm this direction. In early September, the company
appointed George and Barbara Humpton to its Board of Directors and named Doug
Mellinger as Lead Independent Director. George, for example, possesses
“deep expertise in artificial intelligence, data centers, and high-growth
technology environments.”
Macquarie's
bullish stance on Marathon Digital is also based on several additional factors:
Market
Position: Marathon
Digital was recognized for its commanding deployed capacity among institutional
Bitcoin miners.
Comprehensive
Offerings: The
company's broad range of services in the digital infrastructure space,
including MARAPOOL, MARAFW, Auradine, 2PIC, and various sustainability
initiatives, were highlighted as key strengths.
Integrated
Platform: Macquarie
views Marathon Digital as a scaled, integrated platform for investors looking
to engage with the Bitcoin sector.
MARA Stock News: Marathon
Digital Reports 5% Increase in Bitcoin Production for September
The Wall
Street Bitcoin miner’s energized hash rate grew to 36.9 EH/s, up 5% from
August's 35.2 EH/s. Marathon won 207 blocks during the month, a 6% rise
compared to August.
“Our
globally diversified operations demonstrated strength in September, with
significant uptime and increased hash rate,” said Fred Thiel, Marathon's
Chairman and CEO. “We're proud to have surpassed a marathon worth of
bitcoin holdings, with nearly 27,000 BTC on our balance sheet.”
However, Marathon
remains on track to reach its target of 50 EH/s by the end of 2024. The company
is making progress in converting its Granbury data center from air-cooled to
immersion containers. It expects completion before the year-end.
As of
September 30, Marathon held 26,842 unrestricted Bitcoins and did not sell any
during the month. Key operational metrics for September include:
Average
daily BTC production: 23.5 (up from 21.7 in August)
Share of
available miner rewards: 5.2% (up from 4.8% in August)
Transaction
fees as a percentage of the total: 1.7% (down from 2.7% in August)
While
Marathon Digital hasn't officially announced specific AI plans, there are
strong indications of a pivot towards AI. The company recently appointed AI
experts Janet George and Barbara Humpton to its board of directors. CEO Fred
Thiel emphasized the growing importance of AI data center strategies and the
need for AI expertise on the board.
How far can MARA stock
rise?
According
to Macquarie's recent analysis, MARA stock is expected to grow by nearly 50% in
the coming weeks and months. A price target of $22 has been set, which would be
MARA's highest since late July.
Marathon
Digital Holdings, the largest publicly listed Bitcoin (BTC) miner on Wall
Street (NASDAQ: MARA),
has caught the attention of financial group Macquarie, which initiated coverage
of the company's shares with an “Outperform” rating. Due to the company's moves towards the artificial intelligence (AI) industry, the stock is expected to grow by nearly 50% in the coming weeks and months.
MARA Stock Poised to Rise
Towards $22, Boosted by AI Boom
On
September 24, 2024, Macquarie initiated coverage of Marathon Digital Holdings
with an “Outperform” recommendation. This positive outlook for MARA's
stock has garnered attention in the financial markets.
MARA Stock News: Price Target at $22. Source: Tradingview.com
However,
this is expected to change due to the company's moves towards AI, a trend
followed by an increasing number of firms in the mining sector. They focus on high-performance computing (HPC), as confirmed by a recent analysis
from investment management firm VanEck.
VanEck's head of digital assets research, Matthew Sigel
VanEck's
head of digital assets research, Matthew Sigel, estimates that this strategic
pivot could unlock $38 billion in value for mining companies by 2027.
“AI
companies need energy, and Bitcoin miners have it,” commented Sigel.
“As the market values the growing AI/HPC data center market, access to
power—especially in the near term—is commanding a premium.”
Although
MARA hasn't officially announced plans to shift its focus to AI, recent
personnel moves seem to confirm this direction. In early September, the company
appointed George and Barbara Humpton to its Board of Directors and named Doug
Mellinger as Lead Independent Director. George, for example, possesses
“deep expertise in artificial intelligence, data centers, and high-growth
technology environments.”
Macquarie's
bullish stance on Marathon Digital is also based on several additional factors:
Market
Position: Marathon
Digital was recognized for its commanding deployed capacity among institutional
Bitcoin miners.
Comprehensive
Offerings: The
company's broad range of services in the digital infrastructure space,
including MARAPOOL, MARAFW, Auradine, 2PIC, and various sustainability
initiatives, were highlighted as key strengths.
Integrated
Platform: Macquarie
views Marathon Digital as a scaled, integrated platform for investors looking
to engage with the Bitcoin sector.
MARA Stock News: Marathon
Digital Reports 5% Increase in Bitcoin Production for September
The Wall
Street Bitcoin miner’s energized hash rate grew to 36.9 EH/s, up 5% from
August's 35.2 EH/s. Marathon won 207 blocks during the month, a 6% rise
compared to August.
“Our
globally diversified operations demonstrated strength in September, with
significant uptime and increased hash rate,” said Fred Thiel, Marathon's
Chairman and CEO. “We're proud to have surpassed a marathon worth of
bitcoin holdings, with nearly 27,000 BTC on our balance sheet.”
However, Marathon
remains on track to reach its target of 50 EH/s by the end of 2024. The company
is making progress in converting its Granbury data center from air-cooled to
immersion containers. It expects completion before the year-end.
As of
September 30, Marathon held 26,842 unrestricted Bitcoins and did not sell any
during the month. Key operational metrics for September include:
Average
daily BTC production: 23.5 (up from 21.7 in August)
Share of
available miner rewards: 5.2% (up from 4.8% in August)
Transaction
fees as a percentage of the total: 1.7% (down from 2.7% in August)
While
Marathon Digital hasn't officially announced specific AI plans, there are
strong indications of a pivot towards AI. The company recently appointed AI
experts Janet George and Barbara Humpton to its board of directors. CEO Fred
Thiel emphasized the growing importance of AI data center strategies and the
need for AI expertise on the board.
How far can MARA stock
rise?
According
to Macquarie's recent analysis, MARA stock is expected to grow by nearly 50% in
the coming weeks and months. A price target of $22 has been set, which would be
MARA's highest since late July.
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.
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Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
