The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Marathon Digital Holdings, Inc. (MARA - Free Report) .
Marathon Digital currently has an average brokerage recommendation (ABR) of 1.91, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 14 brokerage firms. An ABR of 1.91 approximates between Strong Buy and Buy.
Of the 14 recommendations that derive the current ABR, eight are Strong Buy, representing 57.1% of all recommendations.
Brokerage Recommendation Trends for MARA
Check price target & stock forecast for Marathon Digital here>>>
While the ABR calls for buying Marathon Digital, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.
Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.
This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABRIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Is MARA a Good Investment?In terms of earnings estimate revisions for Marathon Digital, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at -$4.39.
Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Marathon Digital. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Marathon Digital.
One analyst has a price target on Strategy that would require the stock to do something most investors would consider almost impossible right now, and his reasoning is harder to dismiss than it sounds.
Strategy currently trades at $142.80 while the average Wall Street price target sits at $225.93. That gap works out to roughly 58% of implied upside, and one bull is aiming much higher.
Strategy (NASDAQ:MSTR | MSTR Price Prediction) is the former MicroStrategy, an enterprise analytics software company that reinvented itself as the world’s largest corporate bitcoin holder. It now sits on 846,000 BTC, and its stock effectively trades as a leveraged proxy on the coin.
The gap between where MSTR trades and where analysts think it belongs matters because most of that spread traces back to a violent 12-month reset in Bitcoin (CRYPTO:BTC) rather than any change in the underlying software business.
Bitcoin’s Reversal Set Off a 56% Drawdown The stock has fallen 56.41% over the past 12 months, a decline that dwarfs both the S&P 500’s 18.65% gain and bitcoin’s own 27.78% slide over the same window. Strategy is essentially a levered bet on BTC, and when the coin fell to roughly $80,000, mark-to-market accounting did the rest.
Q2 2026 showed the damage. EPS came in at -$24.45 versus $3.07 consensus, missing expectations by 895.3%. Revenue of $122.37M grew 6.9% YoY but came in 1.7% below estimates. The $8.22B net loss was driven almost entirely by an $8.32 billion unrealized loss on digital assets. Q1 was worse, with a $12.54B net loss on a $14.46 billion write-down. The market is also pricing structural risk: $6.7B of convertible debt and $400.7M in quarterly preferred dividends against bitcoin carried at $49.7B versus a $63.9B cost basis.
Benchmark’s Mark Palmer Sees a Path to $435 Benchmark Company’s Mark Palmer has kept a Buy rating with a $435 price target on Strategy. From $142.80, that would require the stock to more than triple, an implied upside above 200%. Palmer’s model rests on: bitcoin yield accretion through low-cost debt and above-NAV equity issuance, a structural premium to NAV driven by institutional demand for a liquid bitcoin vehicle, and continued capital-markets execution alongside the software business.
The broader analyst pool is less aggressive but still overwhelmingly constructive. Coverage stands at 15 analysts, with 2 Strong Buy, 12 Buy, 1 Hold, and no Sell ratings on either side. The $225.93 consensus implies about 58% of upside from current levels, and recent action has been reiterations rather than downgrades.
Analysts are focused on Bitcoin Per Share (up 5% in Q2 with holdings growing 11% to 846,000 BTC), the STRC preferred trading back toward its $99 to $100 target, and the $3.75B USD reserve covering 2.1+ years of dividend and interest obligations. CEO Phong Le said on the Q2 call that Strategy “strengthened its balance sheet while navigating a meaningful bitcoin price decline”, while also cutting convertible debt by 18%.
Peers Are Bruised, but MSTR Fell Hardest The whole bitcoin-adjacent complex has been under pressure, but Strategy’s drawdown stands alone in size.
Coinbase (NASDAQ:COIN), the largest US crypto exchange, is down 39.82% over the past year and trades at $184.64 against a $198.97 average target, roughly 8% of implied upside. Coverage runs 3 Strong Buy, 19 Buy, 9 Hold, 2 Sell, and 1 Strong Sell, tilting positive but far less enthusiastic than MSTR.
MARA Holdings (NASDAQ:MARA), the largest publicly traded bitcoin miner, is down 25.15% over 12 months and up 25.95% YTD. It trades at $11.31 with a $17.99 target for roughly 59% of implied upside, and analysts split 3 Strong Buy, 5 Buy, 4 Hold, 1 Sell.
Across this group, the largest Wall Street-implied upside sits with Strategy on both the consensus number and, dramatically, on Benchmark’s outlier. MARA comes closest on percentage terms but carries a fraction of the market cap and offers thinner treasury optionality. Treat these targets as a snapshot of sentiment.
Where MSTR Stands Right Now Strategy currently changes hands at $142.80 with a $225.93 average target from 15 covering analysts, implying about 58% upside. Benchmark’s $435 target implies a further roughly 205%. 14 of 15 analysts rate the stock Buy or better with only 1 Hold and no Sell ratings.
Over 12 months, MSTR is down 56.41% against the S&P 500’s 18.65% gain, a stark relative underperformance. But the stock has ripped 45.17% in the last month and 12.17% in the last week as bitcoin bounced 23.64% over the past month. The 52-week range runs from $81.81 to $365.21, with the 50-day average at $103.50 and the 200-day at $139.09. MSTR’s beta of 3.597 means position sizing matters more than usual.
Bull Case, Bear Case, and Base Case for MSTR The bull case for Strategy holds if bitcoin recovers meaningfully over the next 12 to 24 months and management keeps its capital-markets access. In that world, the leverage that hurt MSTR flips into the amplified-bitcoin thesis Michael Saylor has repeatedly described, Bitcoin Per Share keeps compounding, STRC stabilizes near par, and the $225 consensus target becomes reachable without heroics.
The bear case takes over if bitcoin is stuck in an extended bear cycle or a policy shock closes off equity issuance. In that scenario, the $6.7B convertible stack, $400M-plus quarterly preferred dividends, and a bitcoin book still well under cost basis stop being accounting noise and become active problems that hit common holders first through dilution or forced sales.
My lean is cautiously constructive. The setup has already turned, with bitcoin bouncing and MSTR up sharply off recent lows, and the analyst posture remains intact. Benchmark’s triple call requires a lot to go right, but the consensus 58% swing no longer depends on a miracle. MSTR fits best as a high-volatility satellite exposure, with bitcoin’s direction dictating the sizing.
Contact [email protected] for any questions or corrections.
MARA Holdings (MARA) has declined 48% since my last coverage, underperforming the benchmark's 14% gain. Despite recent volatility and revenue headwinds from Bitcoin, I maintain a Strong Buy rating due to MARA's ambitious growth plans. Management targets a 4.8 GW power portfolio by year-end and the $1.5B Long Ridge acquisition could drive a new revenue cycle.
Bitcoin's 3% bounce is hitting Strategy stock and MARA very differently today, and the gap between their moves reveals a structural divide in how the crypto-equity trade actually works when prices recover fast.
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Strategy (NASDAQ:MSTR | MSTR Price Prediction) stock is soaring in Thursday morning trading, up 10% to $135.40 as Bitcoin (CRYPTO:BTC) rebounds hard from its recent lows. Meanwhile, MARA Holdings (NASDAQ:MARA) stock is rallying, up 9% to $12.18 on the same catalyst. Bitcoin itself is up 3% over the past 24 hours to $80,105.20, a notable move for an asset that’s amplifying dramatically inside the crypto-equity complex.
The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.5% to $769.63, so today’s action in the crypto corner is running well ahead of the broad market benchmark. Strategy stock was down 19% year to date through Wednesday’s close, which frames how much recovery ground still remains for the flagship treasury name after a punishing summer. That year-to-date gap is the frame investors should keep in mind before treating a single-session pop as a trend change.
The setup marks a leadership rotation from earlier this week, when mining names paced the crypto-equity trade. Today the treasury company is out front, and the reason comes down to how directly each business model absorbs a spot-price rebound. That distinction is worth reading closely for investors sizing their exposure to the crypto complex.
Bitcoin’s Bounce Reprices the Treasury Trade The immediate catalyst is Bitcoin’s bounce, plain and simple. There’s no company-specific news driving Strategy stock or MARA stock today, which makes the split in their moves informative on its own. Balance-sheet exposure to Bitcoin reprices instantly when the spot price moves, while mining economics lag through hash price, network difficulty and energy costs.
Strategy held approximately 843,775 Bitcoin as of July 2026, making it the largest institutional Bitcoin holder globally. That structure lets Strategy stock trade close to a leveraged claim on the coin, which is why a 3% Bitcoin move is showing up as a 10% move in the equity today. The company funds coin acquisitions through equity offerings, convertible debt and preferred stock issuance, and also runs an enterprise analytics software business that has become almost incidental to the equity story.
Why Balance Sheet Beats Mining on a Bounce MARA Holdings mines Bitcoin rather than simply holding it, and that puts hash-price and power-cost sensitivities between the spot rally and the equity move. At the same time, MARA stock was up 25% year to date through Wednesday’s close, a very different starting point than Strategy’s position, and it colors how the same catalyst lands on each name.
The miner’s ongoing pivot toward AI data-center capacity adds a second value driver whose sensitivity to Bitcoin’s price is far weaker. That optionality is a longer-term positive for MARA Holdings, though on a day when Bitcoin rallies fast it can actually mute the equity’s beta relative to a pure-play holder like Strategy.
Cipher Mining (NASDAQ:CIFR) fits the same profile as MARA Holdings, a miner mid-transition toward high-performance computing and contracted data-center capacity for hyperscale tenants. Circle Internet Group (NYSE:CRCL), the USDC stablecoin issuer with USDC in circulation of $73.3 billion as of Q2 2026, carries only indirect exposure to a Bitcoin rally through crypto-market activity rather than through holding Bitcoin. These names participate in the crypto rebound, though the transmission channel is slower and less direct than for a treasury company.
The takeaway is that one day of leadership doesn’t settle the longer argument between owning coins and mining them. Strategy stock is still down year to date while MARA stock is up, so investors should consider which part of the crypto-equity trade fits their view before extrapolating today’s ranking.
What to Watch The key question is whether Bitcoin can hold its bounce through the U.S. close, because the entire treasury-trade rally hinges on the spot price. Strategy’s leverage cuts both ways here, and its year-to-date loss shows how quickly the setup can reverse when Bitcoin turns lower. The next reference point is the intraday high of $136.07 in Strategy stock.
A follow-through session in Bitcoin would likely extend gains across the miner cohort as well, giving MARA stock and Cipher Mining stock a chance to close some of the gap to Strategy. A stall around current levels could just as easily unwind Thursday’s move, since none of these equities has a company-specific catalyst supporting them today. Bitcoin’s daily settle is therefore the tell that matters most into the afternoon.
The tactical read is that investors should consider keeping their positions modest given the beta these names carry. Trimming Strategy stock or MARA stock into strength may make more sense than chasing a double-digit single-session move, particularly with Bitcoin still well below its prior highs.
Contact [email protected] for any questions or corrections.
Bitcoin is holding steady near a key level while the miners that produce it are cratering, and that split tells investors something important about where the smart money is actually flowing this cycle.
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Some well-known Bitcoin (CRYPTO:BTC) mining equities are selling off midday Friday even as the coin they mine holds firm, a divergence that stands out on an otherwise steady session for crypto. MARA Holdings (NASDAQ:MARA | MARA Price Prediction) stock is down 6% to $11.12, while Riot Platforms (NASDAQ:RIOT) stock is down 6% to $19.58.
Meanwhile, Bitcoin is trading at $79,539.32, and the iShares Bitcoin Trust ETF (NASDAQ:IBIT) is down 0.5% to $45.05. The Bitcoin fund is a narrowly concentrated single-asset product that holds only Bitcoin, so its move tracks the coin directly and does not smooth exposure with a diversified basket.
That contrast tells the story. MARA Holdings and Riot Platforms are down 6% while spot Bitcoin exposure barely moved, which points to miner-specific selling in the mining equities rather than a crypto-wide decline.
Profit Taking With No Confirmed Catalyst Neither MARA Holdings nor Riot Platforms posted news this morning, and no company-specific catalyst was confirmed for either miner today. The move looks like profit taking in the mining equities after their recent run, with sellers pulling chips off the table on names that had drifted higher into month-end.
The Bitcoin fund shows why a macro explanation doesn’t fit today’s action. IBIT is down 0.5%, only a fractional move on the session. A broad crypto shock or a coordinated risk-off move would drag the fund alongside the miners, and none of that is showing up in IBIT’s action.
Miners Are Lagging Bitcoin’s Rally The divergence holds over a longer window, and that is the deeper story for investors. Bitcoin gained 26% over the past month, yet MARA Holdings stock entered today’s session up only 4% over that stretch and Riot Platforms stock was down 2%.
That gap matters for anyone owning the miners as a Bitcoin proxy. The producers are failing to capture the underlying asset’s move, and the market appears to be paying up for direct spot exposure over hashrate leverage. IBIT, Bitcoin itself, and corporate-treasury holders have soaked up the flows this cycle while pure-play miners have been left behind.
Strategy (NASDAQ:MSTR) sits at the far end of that same spectrum. The company held approximately 843,775 Bitcoin as of July, which makes Strategy stock the most Bitcoin-sensitive equity in the group and a cleaner beta play than either miner. Its behavior on days like today generally maps to the coin more than to hashrate economics, energy costs, or fleet upgrades. Strategy shares are down 3% to $132.80 today.
Scorecard: One Month Snapshot Name Session Move One-Month MARA Holdings Down 6% to $11.12 Up 4% Riot Platforms Down 6% to $19.58 Down 2% iShares Bitcoin Trust ETF Down 0.5% to $45.05 N/A Bitcoin Near $79,500 Up 26% What to Watch Traders can watch for whether Bitcoin holds the $79,500 area. A major break lower would give the miner selloff a cleaner narrative and drag IBIT along with it, while a hold or bounce leaves today’s 6% decline in MARA stock and Riot Platforms stock looking like a positioning event rather than a fundamental repricing.
Investors sizing their exposure to the mining names should keep their positions modest until the group tracks Bitcoin again on the way up. The last month argues it hasn’t, and today extends that pattern. For readers using IBIT or Strategy stock as their crypto vehicle, the miner underperformance is confirmation that hashrate leverage is not currently paying investors for the operational risk.
Contact [email protected] for any questions or corrections.
Shares of MARA Holdings Inc. (NASDAQ:MARA) are trading sharply lower Friday afternoon, pulling back following recent strength as selling pressure accelerates across the digital asset ecosystem.
MARA Holdings stock is feeling bearish pressure. What’s weighing on MARA shares? Bitcoin Sell-Off And Macro Concerns Weigh On MinersFriday’s drop in MARA and peer crypto-linked stocks reflects broader weakness in Bitcoin (CRYPTO: BTC), which is retreating from its 20% monthly recent rally, falling some 3% to the $77,000-level Friday afternoon.
Crypto assets faced macroeconomic headwinds following comments from Federal Reserve Chairman Kevin Warsh highlighting ongoing inflation pressures, which reignited investor concerns regarding interest rate trajectories.
Selling pressure was further compounded by a spike in the U.S. dollar, linked to Treasury Secretary Scott Bessent’s disclosures regarding the exchange of foreign-currency assets within the Exchange Stabilization Fund for Japanese Yen.
Production Capacity Expansion Fails To Offset Risk-Off SentimentThe late-week pullback comes despite MARA’s ongoing efforts to scale its digital infrastructure and mining fleet. In its latest operational update, MARA reported an energized hash rate of 54.2 EH/s and total Bitcoin holdings exceeding 50,000 BTC.
However, macro uncertainty and dollar strength continue to weigh on investor sentiment across the Bitcoin mining sector Friday afternoon.
MARA Stock Slides FridayMARA Price Action: MARA Holdings shares were down 9.94% at $10.69 at the time of publication on Friday, according to Benzinga Pro data.
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Top crypto stocks are in a strong rally this week, helped by the ongoing Bitcoin and altcoin comeback. Strive stock jumped to $17.14, its highest level since June 15 and 62% above its lowest level this month.
MARA Holdings soared to $11.6, up by nearly 35% from this month’s low. Other top stocks like MSTR, Coinbase, and CleanSpark have also jumped by double digits in the past few weeks and this trend may continue if the crypto rally gains steam.
The main driver for the ongoing surge in crypto stocks is the fact that Bitcoin and most altcoins have rebounded. Bitcoin surged to $76,340, its highest level since May this year. It has surged by over 30% from its lowest level this year.
Ethereum price jumped to $2,400, up sharply from the year-to-date low of $1,515. In all, the market capitalization of all tokens has moved to $2.5 trillion.
The rally has coincided with the ongoing jump in the Crypto Fear and Greed Index, which has moved to the greed zone of 65. In most cases, Bitcoin and most altcoins thrive when there is a sense of greed among market participants.
Bitcoin is also rising as American institutional and retail investors pile in. Spot Bitcoin ETFs added $606 million in assets on Thursday, much higher than the $517 million they added a day earlier. They have added over $1.6 billion in inflows this week, the best weekly performance since October last year. The real figure may be higher than this if they experience more inflows today.
Other altcoin ETFs have also added substantial inflows. Ethereum ETFs have added $512 million this week, bringing the cumulative net inflows to nearly $12 billion. XRP ETFs added over $21 million in inflows, while Solana funds added $18.2 million.
Bitcoin is rising as investors embrace its role as a hedge as the US debt surge. It crossed the $40 trillion mark this week. Trump’s two terms have added over $11.6 trillion of this debt, and this trend may continue in the foreseeable future.
The rally has also coincided with the upcoming end of summer, a period when many people are travelling.
Top companies in the industry are benefiting from the ongoing crypto rally. Michael Saylor, the most embattled one is benefiting as the value of its Bitcoin holdings jump. The company holds 840k coins worth over $64 billion. At Bitcoin’s low this year, these coins were worth about $48 billion.
Strive, which Vivek Ramaswamy backs, owns 20,246 coins now valued at over $1.56 billion. Bitcoin mining companies like MARA Holdings and CleanSpark, which hold 35,577 and 13,930 coins, respectively,
Other companies in the industry like Bullish, Coinbase, and Gemini have also surged this week, with investors hoping that the resurgence will lead to more transaction volume.
Still, top crypto stocks face some substantial risks that may affect their performance. One of the core risks is that the ongoing rally may be a dead-cat bounce, which is a temporary comeback that results in a reversal.
Technically, there are signs that Bitcoin has moved to an extremely overbought level. The Relative Strength Index (RSI) has jumped to 85, its highest level since November 2024. In most cases, assets in extremely overbought levels tend to reverse as investors book profits.
Additionally, there are risks associated with the bond market, with the US long-term yields resuming their uptrend. The 30-year yield jumped to 5.246% today, and is slowly nearing the year-to-date high. Soaring bond yields may lead to volatility across all assets.
Bitcoin‘s (CRYPTO:BTC) break above its 2026 ceiling is pulling every crypto-linked equity higher Friday morning, but the moves are stacking in very different sizes across the group. The leverage in each business model is doing the sorting.
Strategy (NASDAQ:MSTR | MSTR Price Prediction) stock is up 8% to $120.86. Meanwhile, MARA Holdings (NASDAQ:MARA) shares are climbing 6% to $11.81. Furthermore, Coinbase (NASDAQ:COIN) stock is jumping 5% to $180.54, and the Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) is advancing 3% to $48.50.
Broad-market risk assets are up. The S&P 500 is up 0.37%, and the NASDAQ 100 is up 0.52%. Crypto is rallying amid that backdrop.
Bitcoin Breaks Its 2026 Cage Bitcoin is up 7% over the past 24 hours to $77,118.89, decisively above the $60,000 to $70,000 band that contained it for most of 2026 and its highest level since late May. Ethereum (CRYPTO:ETH) is up 5% to $2,384.78, riding the same wave.
Two catalysts are behind the breakout. President Trump used a White House summit this week to urge Congress to advance the Clarity Act, a regulatory framework for U.S. crypto that has repeatedly stalled over classification of cryptocurrencies and treatment of stablecoin yields. Separately, the U.S. Treasury announced plans to double its bond buybacks to contain rising yields after the 30-year Treasury reached its highest level since 2007.
That intervention was limited and its effect on bond prices proved short-lived, yet risk appetite improved. The 10-year yields 4.69% and the 2-year 4.18%, and CME FedWatch shows a 34.6% chance the Federal Reserve hikes at its September meeting.
Why the Three Names Moved in Different Sizes Strategy is the most leveraged expression of the Bitcoin price. MSTR held approximately 843,775 Bitcoin as of July 2026 against a $42.41 billion market cap, so the coin price drives the equity almost directly. Today’s rebound swung that treasury back to an estimated $1.4 billion unrealized profit; in July, with Bitcoin near $58,000, the same position carried more than $13 billion in unrealized losses.
That swing explains why MSTR shares carry a beta of 3.555 to the broad tape, and it’s why the equity moves in outsized proportion to any Bitcoin breakout. CEO Phong Le has repeatedly framed the company as a Bitcoin treasury vehicle first and a software business second.
MARA Holdings is a miner with a far smaller treasury of 35,577 Bitcoin against a $4.31 billion market cap. Management is pivoting the company toward AI and high-performance-computing data-center infrastructure, so part of the equity’s value now rests on assets unrelated to the coin price. Wall Street’s average target on MARA stock sits at $17.99, well above today’s level, reflecting the market’s expectation that the pivot re-rates the shares over time.
Coinbase earns transaction fees on trading activity rather than marking a treasury to market. A rising Bitcoin price reaches Coinbase through trading volume rather than through its balance sheet, which explains why its 5% pop is the smallest of the three despite a $38.40 billion market cap. Analyst targets on Coinbase stock sit at $195.52, close to current levels after this rally.
The Valkyrie Bitcoin Miners ETF is a narrowly concentrated fund holding a small number of crypto miners. WGMI carries single-name and sector-concentration risk well above a broad sector fund and won’t track Bitcoin one-for-one.
What to Watch Traders could look for signs that Bitcoin holds above $76,000 after intraday volatility that took the coin as high as $79,345.51 before dipping to $76,399.09 by late morning. A close inside the new range would confirm the breakout is more than a squeeze.
Investors may want to keep an eye on whether Coinbase transaction volumes accelerate through the weekend, since trading volume and volatility drive its P&L. Strategy shares can track Bitcoin tick for tick from here, while MARA’s beta depends on how much of its story the market still assigns to mining versus data centers.
Position sizing should reflect the leverage each name adds. MSTR remains a levered proxy, MARA carries operational and capex risk on top of coin exposure, and Coinbase is the cleanest volume play among the three.
Contact [email protected] for any questions or corrections.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Marathon Digital Holdings, Inc. (MARA - Free Report) .
Marathon Digital currently has an average brokerage recommendation (ABR) of 1.91, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 14 brokerage firms. An ABR of 1.91 approximates between Strong Buy and Buy.
Of the 14 recommendations that derive the current ABR, eight are Strong Buy, representing 57.1% of all recommendations.
Brokerage Recommendation Trends for MARA
Check price target & stock forecast for Marathon Digital here>>>
The ABR suggests buying Marathon Digital, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABRIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.
Is MARA Worth Investing In?In terms of earnings estimate revisions for Marathon Digital, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at -$4.39.
Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Marathon Digital. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Marathon Digital.
MARA Holdings stock is feeling bearish pressure. What’s behind MARA decline?
Morgan Stanley Keeps Underweight Rating on MARAMorgan Stanley analyst Stephen Byrd maintained an Underweight rating on MARA Holdings while raising his price target to $6 from $5.50. Even with the increase, the new target sits well below where shares have been trading, keeping Byrd’s overall stance bearish on the stock.
MARA’s Chart Still Favors SellersMARA enters the session trading well beneath its major moving averages, a gap that signals sellers remain in control of the stock’s intermediate trend. Shares sit 17% below their 20-day moving average of $11.09, 26.1% below their 50-day average of $12.46 and 18.9% below their 200-day average of $11.35. Rallies in this kind of setup tend to stall until price can reclaim the 20-day and 50-day zone.
Momentum indicators point the same direction. The MACD line sits below its signal line with a negative histogram, a sign that whatever upward pressure existed previously continues to fade. Traders are watching $9.50 as nearby resistance, a level where past rebounds have lost steam, and $9 as support, a round-number level that could come into focus if selling persists.
The stock’s broader positioning underscores how far it has fallen from its highs. MARA remains far below its 52-week high of $23.45 and sits much closer to its 52-week low of $6.66, set in February. Even a golden cross that formed in June, when the 50-day average crossed above the 200-day, hasn’t produced a lasting rebound, with shares still stuck beneath both lines.
Technology Sector Strength Isn’t Lifting MARAToday’s move stands out because the broader market isn’t struggling. The Technology Select Sector SPDR Fund (XLK) rose 1.09% Thursday, ranking third among 11 sectors, while MARA fell 4.51%, a gap of about 5.6 percentage points. That divergence suggests investors are singling out MARA specifically rather than reacting to sector-wide weakness.
The sector’s recent trend has been favorable too, up 3.95% over the past 30 days and 8.29% over the past 90 days, showing that a supportive backdrop hasn’t been enough on its own to repair MARA’s chart.
MARA’s Business Ties it Closely to Crypto SentimentThat combination makes MARA behave less like a typical technology stock and more like a leveraged bet on risk appetite. On a day when the broader market is rising and MARA is falling, that gap reflects investors questioning the value of that leverage rather than any change in the sector’s overall trend.
MARA Shares Are DippingMARA Price Action: MARA shares were down 4.36% at $9.22 at the time of publication on Thursday, according to Benzinga Pro.
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California State Teachers Retirement System raised its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA – Free Report) by 23.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 412,052 shares of the business services provider’s stock after acquiring an additional 78,842 shares during the period. California State Teachers Retirement System owned approximately 0.11% of Marathon Digital worth $3,362,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CI Investments Inc. grew its position in Marathon Digital by 7.6% in the 1st quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 957 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Marathon Digital by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after buying an additional 991 shares during the last quarter. Evexia Wealth LLC raised its holdings in Marathon Digital by 9.2% during the first quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider’s stock worth $106,000 after buying an additional 1,090 shares during the last quarter. Sigma Planning Corp lifted its stake in shares of Marathon Digital by 12.4% in the fourth quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider’s stock valued at $107,000 after buying an additional 1,320 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of Marathon Digital by 38.6% during the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock valued at $76,000 after buying an additional 1,340 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.
Insiders Place Their Bets In other Marathon Digital news, General Counsel Zabi Nowaid sold 7,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $99,750.00. Following the transaction, the general counsel owned 963,768 shares of the company’s stock, valued at approximately $13,733,694. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the transaction, the director owned 231,618 shares of the company’s stock, valued at $3,705,888. This trade represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 109,260 shares of company stock valued at $1,452,756. 0.97% of the stock is owned by insiders.
News
Key Stories Impacting Marathon Digital Here are the key news stories impacting Marathon Digital this week:
Positive Sentiment: AI and data-center expansion offers a potential catalyst. MARA said it is targeting at least two artificial-intelligence/high-performance-computing leases by year-end and has doubled its power capacity to 4.8 gigawatts. Needham cited stronger tenant demand through MARA’s Starwood partnership, although it withheld a price target pending more detail on the venture’s economics. MARA targets AI/HPC leases Positive Sentiment: Some analysts still see substantial upside. Rosenblatt reaffirmed a “buy” rating with a $15 price target, while Cantor Fitzgerald maintained an “overweight” rating despite reducing its target to $12. Both targets remain above the current trading level. Analyst rating updates Neutral Sentiment: Options activity was unusually elevated. Traders purchased approximately 250,000 MARA call options, about 14% above average daily call volume. This may indicate speculative bullish positioning, but it does not necessarily represent sustained investor conviction. Negative Sentiment: Second-quarter results missed expectations. MARA reported a $611.3 million net loss, revenue of $174.9 million versus roughly $209.4 million expected, and a year-over-year revenue decline of about 27%. Per-share results also came in below consensus, reinforcing concerns about profitability. MARA reports Q2 loss Negative Sentiment: Bitcoin production and holdings remain pressure points. MARA’s Bitcoin holdings reportedly fell 29% year over year to 35,577 Bitcoin. Investors are concerned that weaker mining economics and large quarterly losses could limit the benefit of higher Bitcoin prices. MARA Bitcoin holdings and Q2 loss Negative Sentiment: Price-target reductions added to selling pressure. The broader Bitcoin-mining group declined as analysts cut targets and investors prioritized Q2 losses over Bitcoin’s rebound. MARA’s high volatility amplifies the impact of disappointing results and analyst revisions. MARA stock and price-target cuts Marathon Digital Trading Down 5.3% NASDAQ:MARA opened at $10.09 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -1.10 and a beta of 5.40. Marathon Digital Holdings, Inc. has a 52 week low of $6.66 and a 52 week high of $23.45. The firm has a 50-day moving average price of $12.81 and a two-hundred day moving average price of $11.03.
News
Marathon Digital (NASDAQ:MARA – Get Free Report) last announced its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.77). The business had revenue of $174.88 million during the quarter, compared to analysts’ expectations of $209.44 million. Marathon Digital had a negative return on equity of 22.55% and a negative net margin of 429.71%.Marathon Digital’s quarterly revenue was down 26.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 EPS. On average, equities analysts expect that Marathon Digital Holdings, Inc. will post -2.28 earnings per share for the current fiscal year.
Analyst Ratings Changes Several research firms have recently commented on MARA. Rosenblatt Securities reissued a “buy” rating and set a $15.00 target price on shares of Marathon Digital in a research report on Friday. Citizens Jmp started coverage on Marathon Digital in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price target for the company. Weiss Ratings downgraded Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Cantor Fitzgerald decreased their price objective on Marathon Digital from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday. Finally, Morgan Stanley lowered their price objective on Marathon Digital from $7.00 to $5.50 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.72.
View Our Latest Report on Marathon Digital
Marathon Digital Profile (Free Report)
Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.
The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.
Featured Articles Five stocks we like better than Marathon Digital Quantum Earnings Week: Winners and Losers Are Finally Emerging Axon’s Post-Earnings Pullback May Be More About Valuation Than Growth Uber Stock Lags in 2026, But Cash Flow and AV Bets Fuel Upside AppLovin Stock Hits 52-Week Low as Analysts Trim Targets, Stay Bullish Want to see what other hedge funds are holding MARA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Digital Holdings, Inc. (NASDAQ:MARA – Free Report).
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Shares of MARA Holdings (NASDAQ:MARA | MARA Price Prediction) are down 7% to $9.94 Friday afternoon, while Cipher Mining (NASDAQ:CIFR) shares are sliding 6% to $17.14 and TeraWulf (NASDAQ:WULF) shares are down 4% to $16.88. The declines cap a bruising week for Bitcoin miners.
The oddity is that Bitcoin (CRYPTO:BTC) is holding near $65,000, trading around $64,700 and up 0.53% over the past 24 hours. That resilience should be a tailwind for miners, yet the group is decoupling. The CoinShares Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) is down 1.32% to $47.82, capturing sector-wide pressure that isn’t coming from the coin itself.
The story is company-specific. MARA Holdings reported its Q2 2026 losses this week, and it appears that mixed analyst target cuts and compressed mining economics are outweighing Bitcoin’s steady bid. MARA stock is down 38% over the past year, a reminder that the miner cohort can trade apart from Bitcoin for stretches when operating leverage runs against them.
Q2 Losses Weigh on the Mining Sector MARA Holdings posted a Q2 2026 net loss of approximately $611 million versus a profit a year earlier, with revenue down 27% to about $174.9 million. The report included about $343 million in fair-value declines on digital assets, a non-cash hit that swamped operational results.
MARA’s Bitcoin holdings fell 29% year over year to 35,577 BTC. Cantor Fitzgerald cut its MARA stock price target to $12 from $14 while keeping an Overweight rating, and Needham kept a Hold rating.
MARA Holdings’ management is pivoting toward AI and high-performance computing through a pending $1.5 billion Long Ridge acquisition (a 505-megawatt Ohio gas plant) and a Texas site at Matagorda County with rights to as much as 2 gigawatts. The company now targets at least two AI/HPC leases by year-end. The AI pivot is what separates this cycle from prior ones, with operators pursuing recurring lease revenue backed by hyperscaler credit rather than leaning purely on Bitcoin’s price.
Cipher Mining reported a Q2 2026 net loss of around $267.5 million, but nearly all of that was a roughly $150.5 million non-cash charge tied to warrant liability fair-value changes. JPMorgan trimmed its Cipher Mining target to $22 from $23 (Overweight), citing progress on deliveries and a two-month pull-forward of Phase 1 at the Black Pearl data-center campus, while KBW also cut its Cipher Mining target.
TeraWulf’s Q2 2026 net loss of roughly $940.8 million looks staggering, but around $755.7 million was a non-cash hit from marking its Google warrants to market. HPC lease revenue from Anthropic and Fluidstack deals grew to about $31.9 million, 71% of total revenue, TeraWulf’s while crypto-mining revenue slipped to about $12.8 million as capacity was redirected.
The AI Pivot Underpins the Bull Case The bull thesis is that MARA Holdings, Cipher Mining, and TeraWulf are transitioning from pure Bitcoin miners into AI infrastructure landlords with long-duration hyperscaler contracts. TeraWulf’s Anthropic lease and Google-backed Fluidstack partnership at Lake Mariner help to explain why WULF stock is the mildest decliner today.
Analyst reaction on TeraWulf stock stayed constructive. Citizens trimmed its target to $29 from $30 (Outperform), Rosenblatt kept a Buy at $30, Needham kept a $33 target, and Bernstein flagged 100% upside. That split view is why WULF is holding up better than its peers on a bad week.
Mining economics remain the near-term bear case for these stocks. Bitcoin’s network difficulty is near record highs, and some miners may be consistently unprofitable even with Bitcoin near $65,000. The group’s operating leverage cuts both ways, so when Bitcoin rallies, earnings could snap back sharply, but at current levels the math is unforgiving.
What to Watch Now Market watchers can look for FERC approval on MARA Holdings’ Long Ridge deal and any confirmation of the two AI/HPC leases management targets by year-end. For Cipher Mining, October rent commencement at Barber Lake is the next hard catalyst, followed by continued Stingray construction progress. Meanwhile, for TeraWulf, initial Anthropic delivery is not scheduled until the second half of 2027, so shareholders may need patience through the buildout.
Given the concentrated business risk and warrant-driven earnings volatility, a cautious approach and modest position sizing could be prudent for anyone stepping into these crypto-mining-and-AI stocks. The WGMI ETF offers a diversified way to hold the miner-to-AI transition theme, though the fund is narrow and volatile. A smaller allocation may make more sense than a concentrated single-name bet, especially with the next round of AI lease announcements still ahead.
Contact [email protected] for any questions or corrections.
MARA Holdings Inc. (NASDAQ:MARA) shares are sliding on Friday as traders digest second-quarter financial results and the company’s push to position its power footprint for both Bitcoin mining and AI-oriented compute.
MARA Holdings stock is trading near recent lows. What’s ahead for MARA stock? MARA Holdings Q2 ResultsThe company reported second-quarter revenue of $174.88 million, down 27% year-over-year, and an adjusted loss of $1.60 per share, versus a Street view that had called for a profit of 26 cents per share.
MARA also mined 2,422 Bitcoin in the quarter while purchasing none, and it ended the period holding 35,577 Bitcoin—down 29% year-over-year. That operating snapshot is shaping how traders weigh the AI pivot against near-term mining economics.
MARA Holdings emphasized its pivot toward artificial intelligence in its latest shareholder letter, framing its existing infrastructure as a key solution to the industry’s shortage of power-ready sites.
With 19 data centers across four continents and newly acquired rights to a 2 GW site in Texas, the company is positioning itself to supply the “next generation of compute.”
“This is the business MARA is building,” the company noted, adding that companies controlling power will define the future of AI infrastructure. “Ultimately, we do not view Bitcoin mining and AI infrastructure as competing businesses. They are complementary applications of the same underlying asset: power.
MARA Stock Price Action UpdateMARA Price Action: MARA Holdings shares were down 8.36% at $9.75 at the time of publication on Friday, according to Benzinga Pro data.
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MARA Holdings, Inc. (MARA) Q2 2026 Earnings Call August 6, 2026 5:00 PM EDT
Company Participants
Robert Samuels - Vice President of Investor Relations
Frederick Thiel - CEO & Executive Chairman
Salman Khan - Chief Financial Officer
Conference Call Participants
Gregory Lewis - BTIG, LLC, Research Division
Paul Golding - Macquarie Research
Christopher Brendler - Rosenblatt Securities Inc., Research Division
Michael Donovan - Compass Point Research & Trading, LLC, Research Division
Presentation
Operator
Greetings, and welcome to MARA's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note, this conference is being recorded. I will turn the conference over to your host today, Robert Samuels VP of Investor Relations. You may begin.
Robert Samuels
Vice President of Investor Relations
Thank you, operator. Good afternoon, everyone, and welcome to MARA's Second Quarter Fiscal Year 2026 Earnings Call. Thanks so much for joining us today. With me on today's call are our Chairman and Chief Executive Officer, Fred Thiel; and our Chief Financial Officer, Salman Khan.
Today's call includes forward-looking statements, including those about our growth plans, liquidity, and financial performance. These involve risks and uncertainties, and actual results may differ materially. We disclaim any obligation to update these statements, except as required by law. For more details, see the Risk Factors section of our latest 10-K and other SEC filings.
We'll also reference non-GAAP financial measures like adjusted EBITDA, which we believe are important indicators of MARA's operating performance because they exclude certain items that we do not believe directly reflect our core operations. Please see our earnings release for reconciliations to the most comparable GAAP measures.
We hope you've had the chance to read our shareholder letter and look forward to your feedback. We'll begin with some prepared remarks from Fred and Salman. After their comments, we will open the call to Q&A. I'm going to turn
Marathon Digital Holdings, Inc. (MARA - Free Report) came out with a quarterly loss of $0.7 per share versus the Zacks Consensus Estimate of a loss of $0.56. This compares to a loss of $0.81 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -25.00%. A quarter ago, it was expected that this company would post a loss of $0.46 per share when it actually produced a loss of $0.61, delivering a surprise of -32.61%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Marathon Digital, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $174.88 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 16.12%. This compares to year-ago revenues of $238.49 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Marathon Digital shares have added about 25.2% since the beginning of the year versus the S&P 500's gain of 12.8%.
What's Next for Marathon Digital?While Marathon Digital has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Marathon Digital was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.55 on $198.53 million in revenues for the coming quarter and -$4.98 on $797.06 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Finance sector, VersaBank (VBNK - Free Report) , is yet to report results for the quarter ended July 2026.
This company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +59.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
VersaBank's revenues are expected to be $29.41 million, up 28% from the year-ago quarter.
CleanSpark Inks a $6.6B AI Lease to Become a Digital LandlordMarathon Digital NASDAQ: MARA outlined a strategy to expand beyond Bitcoin mining into AI-focused digital infrastructure, while reporting lower second-quarter revenue and a net loss driven largely by a decline in the value of its Bitcoin holdings.
Chairman and CEO Fred Thiel said the company is positioning its power, land and compute assets to address growing demand for AI data-center capacity. He described power availability as a central constraint for AI infrastructure and said MARA’s experience operating 19 data centers across four continents gives it an established base from which to pursue the opportunity.
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Game On: Wall Street's New Rules and Your Money“The question is no longer who can fund the next wave of compute, it is who has the power,” Thiel said. “That question goes directly to MARA’s strengths.”
Power portfolio expansion MARA advanced its pending acquisition of Long Ridge and, after the quarter ended, acquired rights to a 1,200-acre powered-land site in Matagorda County, Texas. The Texas site could support up to 2 gigawatts of capacity, subject to ERCOT and interconnection approvals.
Risk-Off: Global Trade Uncertainty Is Shaking Crypto, But Not These 2 StocksUpon completion of the Long Ridge transaction and the required approvals, MARA expects its power portfolio to reach about 4.8 gigawatts, more than doubling its current capacity. Thiel said the Matagorda location could provide sufficient wholly owned capacity to support a transition away from hosted mining as existing agreements expire.
The company said its largest third-party hosting arrangements are scheduled to begin expiring in the third quarter of 2027, with all such arrangements ending by the first quarter of 2028. MARA expects the shift toward owned capacity to eliminate third-party hosting costs and improve its cost per kilowatt-hour.
Thiel said MARA is in lease discussions with prospective AI and high-performance computing customers across multiple sites and remains confident it can sign at least two leases before year-end. He said discussions related to the Hannibal campus are proceeding despite the pending Long Ridge closing, including work on prospective tenants’ facility design, fiber and permitting requirements.
Regarding the Long Ridge deal, Thiel said MARA had not received feedback from regulators but did not believe there was anything expected to block approval. The company expects a Federal Energy Regulatory Commission response before year-end, and said it expects it sooner.
Long Ridge financing and expected contribution Chief Financial Officer Salman Khan said MARA secured approval from holders of Long Ridge’s senior secured notes to assume the notes at closing. Following the quarter, the company also entered into two Bitcoin-backed credit facilities with Coinbase and Two Prime, providing up to $600 million of incremental borrowing at a weighted average cost of debt of 7.56%.
MARA refinanced and consolidated an existing $150 million Coinbase facility into the new Coinbase facility. The prior borrowing, which had been due in the first quarter of 2027, will now mature in two years along with the additional borrowings.
Khan said the company plans to use the facilities, along with assumed Long Ridge indebtedness, to fund the acquisition. He described the transaction as a $1.5 billion enterprise-value acquisition financed through Bitcoin-backed debt and the assumption of Long Ridge’s balance-sheet obligations.
Once completed, MARA expects Long Ridge to contribute about $144 million of annualized EBITDA and durable free cash flow. Roughly 70% of Long Ridge’s power output is secured under long-term contracts, according to the company.
At quarter-end, MARA had $421.3 million in cash and cash equivalents and about $2.5 billion in combined cash and Bitcoin. It held 35,577 Bitcoin, valued at roughly $2.1 billion based on a $58,524 spot price. About 26%, or 9,270 Bitcoin, were loaned or pledged as collateral at the end of the quarter. Khan said that following the new financing, 54% of the company’s Bitcoin holdings had been pledged as collateral under its borrowings.
Second-quarter financial results Revenue for the second quarter was $174.9 million, down from $238.5 million in the prior-year period. Khan said Bitcoin production contributed a $7.2 million year-over-year revenue increase, but that benefit was offset by a 28% decline in Bitcoin’s average price, which reduced revenue by $65.9 million. Other revenue declined by about $4.9 million, primarily due to lower digital-asset revenue and the elimination of hosting services.
MARA mined 2,422 Bitcoin during the quarter, or 26.6 Bitcoin per day, up about 64 Bitcoin from the prior-year period. The company won 700 blocks, up 1% year over year and 8% sequentially. Energized hashrate was 70.3 exahash per second, up 22% from 57.4 exahash per second a year earlier. Its share of available mining rewards reached 5.9%, compared with 5.5% in the first quarter. MARA reported a net loss of $611.3 million, or $1.60 per diluted share, compared with net income of $808.2 million, or $1.84 per diluted share, a year earlier. Khan said approximately $343 million of the quarterly net loss stemmed from an unrealized fair-value adjustment on digital assets following the decline in Bitcoin’s price.
Adjusted EBITDA was negative $360.9 million, compared with $1.2 billion in the prior-year quarter, also reflecting the Bitcoin mark-to-market change. Khan said each $10,000 change in Bitcoin’s price produces an approximate $350 million impact on the fair value of digital assets reported in MARA’s income statement.
Exaion and technology initiatives Thiel said MARA’s Exaion business is intended to serve the sovereign AI infrastructure market, particularly European enterprises and public-sector organizations that require data, infrastructure and operations to remain governed under European jurisdiction. Exaion operates critical infrastructure supporting EDF’s nuclear reactor operations and was selected for the EON consortium, an EU-backed initiative targeting approximately 3 gigawatts of AI-ready data-center capacity, he said.
During the question-and-answer session, Thiel said Exaion’s revenue for 2026 is expected to be in the “low eight digits” and should grow as the business adds customers beyond EDF. He also said MARA’s Hashrate Under Management platform has no contractual revenue and is not expected to be material to overall revenue in the near term, though he characterized it as an eight-digit annualized business.
The company also highlighted Vertebra AI, a platform developed to manage power allocation and infrastructure performance in real time. Thiel said the technology has helped MARA add computing capacity within the same electrical footprint and could have applications in AI data centers, power generation and data-center commissioning.
About Marathon Digital (NASDAQ:MARA)Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.
The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Bitcoin (CRYPTO:BTC) mining company MARA Holdings (NASDAQ:MARA) reported second-quarter financial results Thursday after market close.
• MARA Holdings stock is showing downward pressure. What’s ahead for MARA stock?
Here are the key highlights.
MARA Holdings Q2 EarningsMARA Holdings reported second-quarter revenue of $174.88 million, down 27% year-over-year. The revenue total missed a Street estimate of $203.67 million, according to data from Benzinga Pro.
The company reported an adjusted loss of $1.60 per share, missing a Street consensus estimate of a profit of 26 cents per share.
MARA Holdings mined 2,422 Bitcoin in the quarter with no additional Bitcoin purchased.
The company ended the quarter with 35,577 Bitcoin, down 29% year-over-year.
What’s Next for MARA HoldingsThe company’s shareholder letter focused heavily on a transitioned focus on artificial intelligence, with power-ready sites being scarce and the company having infrastructure in place to help power the "next generation of compute."
"This is the business MARA is building," the company said.
MARA Holdings has 19 data centers across four continents.
The company’s portfolio is growing with the recently acquired rights to a 2 GW powered land site in Texas.
"Ultimately, we do not view Bitcoin mining and AI infrastructure as competing businesses. They are complementary applications of the same underlying asset: power."
MARA Holdings said it believes the companies that control power will define the next generation of AI infrastructure.
MARA Stock Price ActionMARA Holdings stock is up 0.4% to $10.70 in after-hours trading Thursday versus a 52-week trading range of $6.66 to $23.45.
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Craig Hart and Nancy Novak Bring Deep Expertise in Power Infrastructure, Energy Investing and Hyperscale Data Center Development to Support MARA’s Next Phase of Growth
MIAMI, FL, Aug. 04, 2026 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the “Company”), a leading energy and digital infrastructure company, today announced the appointment of Craig Hart and Nancy Novak as independent directors to its board of directors (the “Board”), effective August 1, 2026. In connection with these appointments, Barbara Humpton and Georges Antoun have stepped down from the Board, effective July 31, 2026, as part of a planned transition. Following these changes, MARA's Board will continue to comprise seven directors, six of whom are independent.
“MARA is executing a strategy that brings together energy, digital infrastructure and compute,” said Fred Thiel, MARA’s chairman and CEO. “As our significant energy footprint continues to expand, we are actively working with our partners to advance our digital infrastructure strategy. Craig’s extensive experience across power markets, energy investment and infrastructure development, together with Nancy’s deep expertise in hyperscale data centers, will provide valuable perspectives as we pursue these opportunities, maximize the long-term value of every megawatt we control and build on the strong foundation of our Bitcoin mining business.”
“Our Board regularly evaluates its composition and the mix of skills, experience and perspectives needed to support MARA’s strategy and long-term growth,” said Doug Mellinger, MARA’s lead independent director. “Craig and Nancy bring highly relevant, complementary capabilities to an already strong Board. We look forward to their contributions as we continue overseeing the Company’s execution and working on behalf of all MARA shareholders.”
Mr. Hart currently serves as Senior Portfolio Manager and Global Co-Head of Energy and Power at Avenue Capital Group, where he leads the firm’s private power strategy. Over more than 25 years in the energy sector, he has held senior leadership roles spanning power generation, energy infrastructure, corporate strategy, finance and private investing. Prior to joining Avenue Capital, Mr. Hart served as Executive Vice President and Chief Financial Officer of US Power Generating Company, where he helped build the company into a leading independent power producer before its sale to Tenaska Capital Management. He has also overseen significant investments in power generation and energy infrastructure platforms, including the formation and growth of Middle River Power.
“Power is becoming one of the most strategic assets in the digital economy, and MARA has assembled a differentiated platform to capitalize on that opportunity,” said Mr. Hart. “I look forward to working with my fellow directors and the management team as the Company continues expanding its energy portfolio, executing its digital infrastructure strategy and creating long-term value for shareholders.”
Ms. Novak is a recognized leader in hyperscale data center development and digital infrastructure innovation. She previously served as Chief Innovation Officer of Compass Datacenters, where she helped lead large-scale data center development for hyperscale and cloud customers while advancing construction innovation, industrialized building methods and sustainable infrastructure initiatives. Her career spans more than four decades across mission-critical infrastructure development, construction and operations, and she currently serves on the boards of Sims Limited and Weston Solutions.
“The next generation of digital infrastructure will require disciplined execution, speed to market and a deep understanding of hyperscale and enterprise customers,” said Ms. Novak. “MARA combines a compelling strategy with unique infrastructure assets, and I’m excited to contribute my experience in data center development and innovation as the Company continues executing that vision.”
“On behalf of the Board and the entire Company, I would like to thank Barbara and Georges for their leadership and significant contributions to MARA,” Mr. Thiel added. “We are grateful for their service during an important period in the Company’s evolution and wish them both continued success.”
About MARA
MARA (NASDAQ: MARA) deploys digital energy technologies to advance the world’s energy systems. Harnessing the power of compute, MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. Building on its expertise to redefine the future of energy, MARA develops technologies that reduce the energy demands of high-performance computing applications, from AI to the edge.
MARA Company Contact:
Telephone: 800-804-1690
Email: [email protected]
In the latest trading session, Marathon Digital Holdings, Inc. (MARA - Free Report) closed at $11.37, marking a -3.81% move from the previous day. This change lagged the S&P 500's daily gain of 0.7%. Meanwhile, the Dow experienced a rise of 0.53%, and the technology-dominated Nasdaq saw an increase of 1%.
Prior to today's trading, shares of the company had lost 4.68% lagged the Finance sector's gain of 2.97% and the S&P 500's loss of 0.49%.
The upcoming earnings release of Marathon Digital Holdings, Inc. will be of great interest to investors. The company's earnings report is expected on August 6, 2026. The company is expected to report EPS of -$0.56, up 30.86% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $208.49 million, showing a 12.58% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$4.98 per share and a revenue of $797.06 million, indicating changes of -34.96% and -12.13%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Marathon Digital Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Marathon Digital Holdings, Inc. boasts a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 179, this industry ranks in the bottom 28% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Marathon Digital Holdings, Inc. (MARA - Free Report) .
Marathon Digital currently has an average brokerage recommendation (ABR) of 1.91, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 14 brokerage firms. An ABR of 1.91 approximates between Strong Buy and Buy.
Of the 14 recommendations that derive the current ABR, eight are Strong Buy, representing 57.1% of all recommendations.
Brokerage Recommendation Trends for MARA
Check price target & stock forecast for Marathon Digital here>>>
The ABR suggests buying Marathon Digital, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
ABR Should Not Be Confused With Zacks RankAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Should You Invest in MARA?In terms of earnings estimate revisions for Marathon Digital, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at -$4.98.
Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Marathon Digital. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Marathon Digital.
Marathon Digital Holdings, Inc. (MARA - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Over the past month, shares of this company have returned -18.1%, compared to the Zacks S&P 500 composite's +1.9% change. During this period, the Zacks Financial - Miscellaneous Services industry, which Marathon Digital falls in, has lost 0.6%. The key question now is: What could be the stock's future direction?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Marathon Digital is expected to post a loss of $0.56 per share for the current quarter, representing a year-over-year change of +30.9%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
The consensus earnings estimate of -$4.98 for the current fiscal year indicates a year-over-year change of -35%. This estimate has remained unchanged over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $2.09 indicates a change of +58% from what Marathon Digital is expected to report a year ago. Over the past month, the estimate has remained unchanged.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Marathon Digital.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
For Marathon Digital, the consensus sales estimate for the current quarter of $208.49 million indicates a year-over-year change of -12.6%. For the current and next fiscal years, $797.06 million and $872.84 million estimates indicate -12.1% and +9.5% changes, respectively.
Last Reported Results and Surprise HistoryMarathon Digital reported revenues of $174.61 million in the last reported quarter, representing a year-over-year change of -18.4%. EPS of -$0.61 for the same period compares with -$0.4 a year ago.
Compared to the Zacks Consensus Estimate of $192.68 million, the reported revenues represent a surprise of -9.38%. The EPS surprise was -32.61%.
Over the last four quarters, Marathon Digital surpassed consensus EPS estimates times. The company topped consensus revenue estimates two times over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Marathon Digital is graded F on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Marathon Digital. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
SummaryMARA Holdings is transitioning from a leveraged Bitcoin miner to an energy and digital infrastructure company with a 4.8GW power pipeline.MARA trades at $12.68, well below its 52-week high and consensus targets, despite assembling premium power assets and forming a JV with Starwood Capital.The investment thesis centers on MARA’s AI infrastructure pivot, Long Ridge acquisition, Texas campus buildout, and significant Bitcoin treasury, with major catalysts ahead.I rate MARA a Buy for its asymmetric risk/reward, with Q2 earnings and Long Ridge FERC approval as imminent re-rating triggers.da-kuk/iStock Unreleased via Getty Images
Most investors still read MARA Holdings (MARA) as a leveraged Bitcoin investment and mining operation. However, this perception is six months out of date.
The company is involved in energy and digital infrastructure and essentially
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
On July 24, 2026, MARA Holdings Inc (MARA) shares fell 5.1% today to a current price of $12.12. This decline comes in the context of a 52-week high of $23.45 an
In the latest trading session, Marathon Digital Holdings, Inc. (MARA - Free Report) closed at $12.12, marking a -5.09% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.05%. At the same time, the Dow added 0.46%, and the tech-heavy Nasdaq lost 0.64%.
The company's shares have seen a decrease of 8% over the last month, not keeping up with the Finance sector's gain of 1.74% and the S&P 500's gain of 0.61%.
The investment community will be paying close attention to the earnings performance of Marathon Digital Holdings, Inc. in its upcoming release. The company is slated to reveal its earnings on August 6, 2026. The company is expected to report EPS of -$0.56, up 30.86% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $208.49 million, indicating a 12.58% downward movement from the same quarter last year.
MARA's full-year Zacks Consensus Estimates are calling for earnings of -$4.98 per share and revenue of $797.06 million. These results would represent year-over-year changes of -34.96% and -12.13%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Digital Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Marathon Digital Holdings, Inc. is currently a Zacks Rank #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 182, this industry ranks in the bottom 27% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Marathon Digital Holdings, Inc. (MARA - Free Report) closed the most recent trading day at $12.77, moving +2.9% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 1.21%. Meanwhile, the Dow lost 0.97%, and the Nasdaq, a tech-heavy index, lost 2.15%.
Heading into today, shares of the company had lost 11.36% over the past month, lagging the Finance sector's gain of 2.12% and the S&P 500's gain of 0.42%.
Investors will be eagerly watching for the performance of Marathon Digital Holdings, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2026. The company is forecasted to report an EPS of -$0.56, showcasing a 30.86% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $208.49 million, indicating a 12.58% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$4.98 per share and a revenue of $797.06 million, representing changes of -34.96% and -12.13%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Digital Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Marathon Digital Holdings, Inc. presently features a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 186, placing it within the bottom 25% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Earnings Webcast and Conference Call Set for Thursday, August 6, 2026 at 5:00 p.m. Eastern Time
Miami, FL, July 22, 2026 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) ("MARA" or the "Company"), a leading digital energy and infrastructure company, will hold a webcast and conference call on Thursday, August 6, 2026 at 5:00 p.m. Eastern Time to discuss its financial results for the quarter ended June 30, 2026. Financial results will be published in a shareholder letter prior to the call on the investor relations section of the Company’s website.
To register to participate in the conference call or to listen to the live audio webcast, please use this link. The webcast will also be broadcast live and available for replay via the investor relations section of the Company’s website.
Earnings Webcast and Conference Call Details
Date: Thursday, August 6, 2026
Time: 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time)
Registration link: LINK
If you have any difficulty joining the conference call, please contact MARA’s investor relations team at [email protected].
About MARA
MARA (NASDAQ: MARA) deploys digital energy technologies to advance the world’s energy systems. Harnessing the power of compute, MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. Building on its expertise to redefine the future of energy, MARA develops technologies that reduce the energy demands of high-performance computing applications, from AI to the edge.
For more information, visit www.mara.com, or follow us on:
Salman Hassan Khan, the chief financial officer of MARA Holdings, Inc. (MARA +4.97%), reported a sale of 16,000 shares of common stock on July 17, 2026, according to a recent SEC Form 4 filing.
Transaction summaryMetricValueShares sold (indirectly held)16,000Transaction value$174,400Post-transaction shares (directly held)1,670,140Post-transaction shares (indirectly held)393,066Post-transaction value$22.06 millionTransaction value based on SEC Form 4 weighted average sale price ($10.90); post-transaction value based on July 17, 2026 market close ($10.69).
Key questionsWhat was the mechanism governing this transaction?
The sale was executed pursuant to a Rule 10b5-1 trading plan adopted on September 11, 2025. This allows insiders to set up a predetermined schedule for selling shares to avoid concerns about trading on non-public information.How does this sale affect Salman Hassan Khan's long-term exposure to the company?
Despite the disposition of 16,000 shares, the CFO maintains a substantial equity position of about 2.1 million total shares. His direct holdings of 1.7 million shares remain unchanged by this transaction.What is the recent performance context for the stock?
As of the transaction date, shares have seen a one-year decline of roughly 35%. The broader company context includes a trailing twelve-month net loss of $2.0 billion.Who are the beneficiaries of the indirect holdings?
The shares sold were held by the S & N Khan Family Trust. The reporting person and his spouse act as trustees, while immediate family members are the sole beneficiaries of this entity.Company OverviewMetricValueShare Price (as of market close 2026-07-17)$12.25Market Capitalization$4.7 billionRevenue (TTM)$867.8 millionNet Income (TTM)-$2.0 billionCompany SnapshotMARA Holdings operates as a digital asset technology company focused on Bitcoin mining, generating revenue through the ownership and operation of Bitcoin mining facilities, the sale of proprietary software and technology to third-party Bitcoin ecosystem operators, and the provision of advisory and consulting services to support Bitcoin mining ventures across domestic and international jurisdictions.The company's business model centers on deploying capital-intensive mining infrastructure powered by renewable energy resources, leveraging technological innovation to optimize mining operations, and monetizing intellectual property and expertise through software licensing and strategic advisory services.MARA Holdings serves institutional investors, cryptocurrency ecosystem participants, and energy companies seeking exposure to Bitcoin mining, targeting both domestic and international markets with a focus on sustainable, technology-enabled mining operations.MARA Holdings, Inc. is a substantial participant in the Bitcoin mining sector, positioning it as a significant infrastructure provider within the digital asset ecosystem. The company differentiates itself through its integration of renewable energy resources, proprietary mining technology, and advisory capabilities, enabling it to serve as both an operational mining enterprise and a technology solutions provider to the broader Bitcoin mining industry. Despite current profitability challenges reflected in a TTM net loss of $2.0 billion, the company maintains a strategic focus on long-term value creation within the evolving cryptocurrency infrastructure landscape.
What this transaction means for investorsThe shares were sold through the S & N Khan Family Trust, not his personal holdings, and trust assets can be managed for estate and family purposes on timelines that have nothing to do with where a stock trades day to day, or month to month. Plus, the plan behind it was set last September, and his combined position still runs to roughly 2.1 million shares.
As finance chief, Khan has been steering the company through a real pivot. First-quarter revenue fell 18% to $174.6 million, which he attributed on the latest earnings call to "an 18% decrease in Bitcoin's average price." However, MARA is now pushing into artificial intelligence and high-performance computing, buying French data center operator Exaion for $168 million in cash up front and cutting about 15% of its workforce at a cost of $45.9 million. It refinanced its credit line down to 7% from 10.5%, with $513.7 million in cash on hand. Long-term, the ongoing pivot will be a determinantfactor. Mining revenue rises and falls with Bitcoin, but data center contracts don't, and whether MARA can build a second business is the open question.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Frederick G. Thiel, the chief executive officer of MARA Holdings, Inc. (MARA +4.97%), reported a sale of 27,505 shares of common stock on July 17, 2026, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$300,000Shares sold27,505Post-transaction shares (directly held)4,471,403Post-transaction value$47.8 millionTransaction value based on SEC Form 4 weighted average sale price ($10.90); post-transaction value based on July 17, 2026 market close ($10.69).
Key questionsWhat was the structural context of this transaction?
The sale was executed under a Rule 10b5-1 trading plan established on May 28, 2025, a mechanism that allows corporate insiders to schedule trades in advance to mitigate potential concerns regarding non-public information.How does this impact the CEO's total equity position?
Frederick G. Thiel continues to hold a substantial direct interest in the company, with the current disposition reducing his direct holdings by less than 1% to a total of 4,471,403 shares.What is the current valuation of the remaining holdings?
Using the July 17, 2026, market close price of $10.69, the executive's remaining direct equity position is valued at $47.8 million.What is the recent performance of the equity?
Shares of the digital asset technology company have experienced a one-year decline of about 35%.Company OverviewMetricValueShare Price (as of market close 2026-07-17)$12.25Market Capitalization$4.7 billionRevenue (TTM)$867.8 millionNet Income (TTM)-$2.0 billionCompany SnapshotMARA Holdings operates as a digital asset technology company focused on Bitcoin mining, generating revenue through the ownership and operation of Bitcoin mining facilities and data centers, the sale of proprietary software and technology to third parties within the Bitcoin ecosystem, and the provision of advisory and consulting services to support Bitcoin mining ventures across domestic and international jurisdictions.The company's business model centers on leveraging proprietary mining infrastructure and technology to extract Bitcoin while optimizing operational efficiency through renewable energy generation and resource management.MARA's primary customers include institutional and retail investors seeking Bitcoin exposure, third-party Bitcoin mining operators requiring technology solutions and consulting services, and enterprises evaluating Bitcoin mining ventures in various jurisdictions.MARA Holdings, Inc. operates as a significant participant in the digital asset and cryptocurrency mining sector. The company maintains a focused strategy on Bitcoin ecosystem development, combining mining operations with technology licensing and advisory services to capture value across multiple segments of the Bitcoin infrastructure market. Despite current net losses, MARA's diversified revenue streams and proprietary technology position it as a vertically integrated player in the evolving digital asset infrastructure landscape.
What this transaction means for investorsThe plan governing this sale dates to May 2025, roughly fourteen months before it executed, with MARA trading at slightly higher levels then, at around $14 to $16, effectively meaning shares haven’t delivered consistent gains since. With this sale, he collected about $300,000 while holding onto 4,471,403 shares worth $47.8 million, so less than 1% of his position moved. That’s a scale that says he remains tied to the outcome far more than any single sale suggests.
That outcome now hinges on Bitcoin's price more than mining itself. First-quarter revenue fell 18% to $174.6 million as the cryptocurrency’s average price dropped, and the company posted a $1.26 billion net loss. CFO Salman Khan attributed roughly $1 billion of it to "the unrealized mark-to-market fair value adjustment for digital assets." MARA also sold about $1.5 billion of Bitcoin during the quarter, using proceeds to retire roughly $1 billion in convertible notes, a sharp break from its old refusal to sell. That’s what long-term investors should be mindful of. MARA's reported results can swing on Bitcoin's quarterly price move, which makes the shares effectively a bet on the asset rather than on the mining business underneath.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
One white-hot segment at the intersection of the tech and cryptocurrency sectors did very well for investors as the trading week kicked off. Crypto miners, which as a group have pushed harder into the lucrative field of data center operations, saw their stocks rise sharply on Monday.
This rally, which helped lift Mara Holdings (MARA +8.84%) by more than 9%, was driven by two fresh multi-billion-dollar deals announced by segment players that day.
Mining a different strategy The first of those two announcements was trumpeted by Iren, once upon a time a company known almost exclusively as a Bitcoin miner.
Image source: Getty Images.
Iren revealed, no doubt with immense satisfaction, that it had signed a set of multi-year contracts with top artificial intelligence (AI) developers, under which it'll provide compute capacity to those clients. With that strong tailwind at its back, Iren raised its annual AI cloud run rate revenue guidance from $3.7 billion to over $4 billion.
Not to be outdone, peer and rival Hut 8 announced that it had signed a new lease with a tenant at its Beacon Point data center complex in Texas. This contract, the second lease with the tenant, is worth $9.8 billion and has a 15-year term. Hut 8 did not divulge the identity of its counterparty.
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A series of serious lifts Mara Holdings wasn't directly involved in either of these deals, but it didn't need to be. On the market, a rising tide often lifts all boats. The company is similar in business activity and shares the pivot-into-AI-data-center strategy successfully being implemented by Iren and Hut 8.
While I think the foundational Bitcoin mining business will continue to be up and down for Mara Holdings, it's clear that its data center operations can be quite the powerful motor of growth. I don't blame investors for being very bullish on the prospects of pivoting crypto miners generally, and this company specifically.
Eric Volkman has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
Shares of Hut 8 (NASDAQ:HUT) are surging in Monday morning trading, with the stock up 10% to $100.58 after the energy infrastructure operator announced a second hyperscale AI data center lease that fully commercializes its flagship Texas campus. The move extends a volatile stretch for the name, which had fallen 23% over the past month heading into the announcement.
The rally is dragging peer miners higher in sympathy. Marathon Digital (NASDAQ:MARA | MARA Price Prediction) shares are up 8% to $11.57, and Riot Platforms (NASDAQ:RIOT) shares are trading 4% higher at $19.03. The CoinShares Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) is along for the ride, with the ETF up 8% to $51.58.
Notably, the sector is rallying while Bitcoin (CRYPTO:BTC) trades slightly lower over the past 24 hours at $64,317. That divergence signals the move is idiosyncratic to the AI infrastructure theme rather than a crypto beta trade.
Beacon Point Deal Fully Commercializes Texas Campus Hut 8 signed a second 15-year, $9.8 billion lease that fully commercializes its 1-gigawatt Beacon Point AI data center campus in Nueces County, Texas. The existing high-investment-grade tenant doubled its contracted footprint to 704 MW, and the campus base-term contract value now stands at $19.6 billion, rising to as much as $50.2 billion if all renewal options are exercised.
The total contracted portfolio value across Beacon Point and River Bend now reaches $26.6 billion, with expected average annual net operating income above $1.75 billion. The Phase 2 data hall spans 352 MW and is designed to NVIDIA‘s (NASDAQ:NVDA) DSX reference architecture, tying Hut 8 directly to the NVIDIA AI factory buildout that CEO Jensen Huang has called “the largest infrastructure expansion in human history.”
Campus energization is on track for Q1 2027, with first Phase 2 delivery expected in Q2 2028. Beacon Point was originally developed on a speed-to-power basis for affiliated miner American Bitcoin before being converted to AI leases.
KBW Reiterates Outperform Keefe, Bruyette & Woods (KBW) maintained an Outperform rating with a $138 price target on Hut 8 shares following the announcement. That target sits above the current print and reinforces the analyst community’s read that Hut 8’s shift toward contracted, investment-grade cash flow is worth a premium to the mining peer set.
The setup echoes prior notes. Benchmark’s Mark Palmer had already lifted his Hut 8 price target to $165 from $85, and Lucid Capital Markets initiated the stock at Buy with a $226 price target.
Hut 8’s Peers Ride the Theme To be clear, the concrete news belongs to Hut 8 alone. Marathon Digital and Riot Platforms shares are moving on renewed enthusiasm for the Bitcoin-miner-to-AI-infrastructure pivot rather than company-specific catalysts.
Marathon Digital is pursuing its own transition through a Starwood partnership converting roughly 90% of non-hosted mining capacity to AI and critical IT compute sites, plus a pending acquisition of the 505 MW Long Ridge Energy plant expected to close in H2 2026. Riot Platforms has already booked debut data center revenue from its $636 million, 10-year Advanced Micro Devices (NASDAQ:AMD) lease at Rockdale and is targeting portfolio NOI of $1.6 billion to $2.1 billion on full development.
The WGMI ETF offers a basket way to play the cohort. However, the fund is narrow and volatile, with meaningful concentration risk.
What to Watch Now Traders can watch for whether today’s crypto-stock gains hold into the close. The next anticipated catalyst is Hut 8’s Q2 2026 earnings release on August 4, before the open, which management has flagged may look messy on mark-to-market accounting.
For Marathon Digital and Riot Platforms, the read-through is simpler. If hyperscale tenants keep signing 15-year and 20-year deals at gigawatt scale, the miner-to-AI pivot narrative likely has room to run, even if Bitcoin drifts sideways.
Marathon Digital Holdings, Inc. (MARA - Free Report) closed the most recent trading day at $10.69, moving -6.39% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 1.01%. Elsewhere, the Dow saw a downswing of 0.77%, while the tech-heavy Nasdaq depreciated by 1.4%.
The stock of company has fallen by 19.69% in the past month, lagging the Finance sector's gain of 2.6% and the S&P 500's gain of 0.32%.
The investment community will be closely monitoring the performance of Marathon Digital Holdings, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.56, reflecting a 30.86% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $204.62 million, reflecting a 14.2% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$4.98 per share and a revenue of $811.39 million, signifying shifts of -34.96% and -10.55%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Digital Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Marathon Digital Holdings, Inc. is carrying a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 167, finds itself in the bottom 33% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Marathon Digital Holdings, Inc. (MARA - Free Report) closed the most recent trading day at $11.42, moving -7.08% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.51%. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq decreased by 1.47%.
Shares of the company have depreciated by 11.71% over the course of the past month, underperforming the Finance sector's gain of 3.25%, and the S&P 500's gain of 0.53%.
Analysts and investors alike will be keeping a close eye on the performance of Marathon Digital Holdings, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.56, signifying a 30.86% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $204.62 million, down 14.2% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$4.98 per share and a revenue of $811.39 million, demonstrating changes of -34.96% and -10.55%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Marathon Digital Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Marathon Digital Holdings, Inc. presently features a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 161, finds itself in the bottom 35% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MARA in the coming trading sessions, be sure to utilize Zacks.com.
Marathon Digital Holdings, Inc. (MARA - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Over the past month, shares of this company have returned -11.7%, compared to the Zacks S&P 500 composite's +0.5% change. During this period, the Zacks Financial - Miscellaneous Services industry, which Marathon Digital falls in, has lost 2.8%. The key question now is: What could be the stock's future direction?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Marathon Digital is expected to post a loss of $0.56 per share for the current quarter, representing a year-over-year change of +30.9%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
For the current fiscal year, the consensus earnings estimate of -$4.98 points to a change of -35% from the prior year. Over the last 30 days, this estimate has remained unchanged.
For the next fiscal year, the consensus earnings estimate of $2.09 indicates a change of +58% from what Marathon Digital is expected to report a year ago. Over the past month, the estimate has remained unchanged.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Marathon Digital is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
For Marathon Digital, the consensus sales estimate for the current quarter of $204.62 million indicates a year-over-year change of -14.2%. For the current and next fiscal years, $811.39 million and $912.41 million estimates indicate -10.6% and +12.5% changes, respectively.
Last Reported Results and Surprise HistoryMarathon Digital reported revenues of $174.61 million in the last reported quarter, representing a year-over-year change of -18.4%. EPS of -$0.61 for the same period compares with -$0.4 a year ago.
Compared to the Zacks Consensus Estimate of $192.68 million, the reported revenues represent a surprise of -9.38%. The EPS surprise was -32.61%.
Over the last four quarters, Marathon Digital surpassed consensus EPS estimates times. The company topped consensus revenue estimates two times over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Marathon Digital is graded F on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Marathon Digital. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Let's take a look at what these Wall Street heavyweights have to say about Marathon Digital Holdings, Inc. (MARA - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
Marathon Digital currently has an average brokerage recommendation (ABR) of 1.91, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 14 brokerage firms. An ABR of 1.91 approximates between Strong Buy and Buy.
Of the 14 recommendations that derive the current ABR, eight are Strong Buy, representing 57.1% of all recommendations.
Brokerage Recommendation Trends for MARA
Check price target & stock forecast for Marathon Digital here>>>
The ABR suggests buying Marathon Digital, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABRIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.
Is MARA a Good Investment?Looking at the earnings estimate revisions for Marathon Digital, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at -$4.98.
Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Marathon Digital. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Marathon Digital.
SummaryMARA Holdings (MARA) is pivoting from Bitcoin mining to AI infrastructure, leveraging its vast, low-cost power capacity as a strategic moat. Recent acquisitions and partnerships—Exaion for AI expertise and Starwood for data center development—position MARA to attract hyperscalers and enterprise tenants. MARA expanded capacity to 4.8GW, funding the AI shift by selling $1.5B in Bitcoin and restructuring debt to minimize dilution risk. I rate MARA a BUY for risk-seeking investors, citing its undervaluation versus peers and high-reward potential despite significant execution and liquidity risks. Dragon Claws/iStock via Getty Images
Investment Thesis With this article, I will close the “three-episode” series regarding the analysis of neocloud companies. I started with the main neocloud players, such as Nebius (NBIS), and its inference software
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of MARA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Marathon Digital Holdings, Inc. (MARA - Free Report) ended the recent trading session at $12.60, demonstrating a -4.69% change from the preceding day's closing price. This change lagged the S&P 500's 0.42% gain on the day. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.29%.
Heading into today, shares of the company had lost 2.87% over the past month, lagging the Finance sector's gain of 4.33% and the S&P 500's gain of 2.2%.
Market participants will be closely following the financial results of Marathon Digital Holdings, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.03, signifying a 96.30% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $204.62 million, indicating a 14.2% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$3.14 per share and a revenue of $811.39 million, representing changes of +14.91% and -10.55%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Marathon Digital Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Marathon Digital Holdings, Inc. currently has a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
MARA shares are advancing steadily. Why is MARA stock trading higher? The Deal & Site DevelopmentThe site encompasses more than 1,200 acres approximately 90 miles southwest of Houston, and is expected to provide access to up to 1 GW of grid capacity by October 2027 and up to 2 GW by April 2028. The site has already received interest from potential High-Performance Computing tenants. HIF will retain a minority ownership interest in the project upon execution of a lease with an HPC tenant.
Upon full energization, the site is expected to more than double MARA’s potential power capacity to approximately 4.8 GW across its portfolio — including the anticipated close of MARA’s previously announced agreement to acquire Long Ridge Energy & Power.
MARA intends to develop the site through its partnership with Starwood Digital Ventures as a large-scale digital infrastructure campus capable of supporting high-performance computing workloads as well as flexible compute operations, including Bitcoin mining. Phased construction is expected to begin in 2026, contingent upon regulatory approvals.
“This transaction advances our strategy of securing strategically located infrastructure assets capable of supporting high-performance compute and bitcoin workloads,” said Fred Thiel, MARA’s Chairman and CEO.
MARA Shares Edge HigherMARA Price Action: At the time of publication, MARA shares are trading 2.18% higher at $13.51, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
Shares of Mara Holdings (MARA +9.98%) popped on Thursday after the digital infrastructure developer announced a major new project.
Image source: Getty Images.
Land, power, and compute Mara agreed to purchase powered land from sustainable fuels company HIF USA for an aggregate purchase price of up to $600 million.
The more than 1,200-acre site is located roughly 90 miles southwest of Houston, Texas. It's projected to provide access to up to 2 gigawatts (GW) of grid capacity by April 2028.
Today's Change
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Mara plans to build a digital infrastructure campus in collaboration with Starwood Digital Ventures that can run artificial intelligence (AI) and other high-performance computing workloads, including Bitcoin mining operations.
Mara said prospective computing clients have already demonstrated interest in becoming tenants.
Construction is slated to start this year, subject to regulatory approval.
Shifting from Bitcoin to AI The project is expected to more than double Mara's total power capacity to about 4.8 GW, thereby bolstering its standing as a provider of large-scale computing services.
"As demand for digital infrastructure continues to grow, we believe sites with access to reliable, scalable power will become increasingly valuable," Mara CEO Fred Thiel said. "This acquisition meaningfully expands our long-term development pipeline and strengthens our ability to support high-performance compute and maximize the value of that power over time."
Investors clearly approve of the strategy, which has the potential to be far more lucrative than Mara's prior focus on Bitcoin mining operations.
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
MARA stock is charging ahead with explosive momentum. What’s behind MARA gains? The DealThe site encompasses more than 1,200 acres in Matagorda County, approximately 90 miles southwest of Houston, and is expected to provide access to up to 1 GW of grid capacity by October 2027 and up to 2 GW by April 2028. The site has already received interest from potential High-Performance Computing tenants. HIF will retain a minority ownership interest in the project upon execution of a lease with an HPC tenant.
Upon full energization, the site is expected to more than double MARA’s potential power capacity to approximately 4.8 GW across its portfolio — including the anticipated close of MARA’s previously announced agreement to acquire Long Ridge Energy & Power.
The Development Plan“This transaction advances our strategy of securing strategically located infrastructure assets capable of supporting high-performance compute and bitcoin workloads,” said Fred Thiel, MARA’s Chairman and CEO. “Sites with access to reliable, scalable power will become increasingly valuable. This acquisition meaningfully expands our long-term development pipeline.”
MARA Shares ClimbMARA Price Action: At the time of publication, MARA shares are trading 10.48% higher at $13.28, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
MARA Holdings (MARA) shares are ripping higher on Thursday after the company announced a major acquisition that meaningfully accelerates its pivot into the AI and data center infrastructure space.
Before the market opened on July 9th, MARA said it has agreed to acquire a “1,200-acre” powered land site in Matagorda County from HIF USA.
This landmark deal, structured with post-closing milestone payments that could reach up to $600 million, hands MARA the crucial rights to a massive 2 gigawatt (GW) power capacity pipeline.
Including today’s gains, MARA stock is up more than 35% versus the start of this year (2026).
MARA shares rallied this morning primarily because the Matagorda County acquisition addresses the scarcest commodity in the tech sector: scalable, highly reliable grid power.
Under the terms of the transaction, MARA is securing a site projected to bring an initial 1 gigawatt of grid capacity online by October 2027, with an increase to its full 2 GW capacity scheduled for April 2028.
By locking down this tremendous energy pipeline, MARA is positioning itself as a key partner for data-hungry enterprise clients.
In short, the announced transaction enables the Nasdaq-listed firm to capture the immense premium tech giants are willing to pay for ready-to-use power.
The Matagorda County agreement is largely bullish for MARA stock, particularly because the site is specifically optimized for High-Performance Computing (HPC) and AI workloads.
MARA Holdings Inc intends to develop this expansive Texas asset alongside its strategic partner, Starwood Digital Ventures, to construct a premier multi-tenant digital infrastructure campus.
In its press release, management said it has already received initial inbound interest from potential HPC tenants looking to lease space.
The ability to deploy flexible compute operations – where the campus can dynamically alternate between mining BTC and powering intensive AI training models – presents a lucrative, diversified business model that shields MARA from the cyclical downturns of the traditional crypto mining ecosystem.
This blockbuster Texas transaction effectively reshapes MARA shares’ long-term valuation model by elevating its total development pipeline to an industrial scale.
When combined with the firm's pending $1.5 billion acquisition of Long Ridge Energy & Power in Ohio, the addition of the Matagorda site will more than double MARA's total potential portfolio capacity to an astonishing 4.8 gigawatts.
While lingering bearish headwinds remain, including a steep Q1 net loss and recent analyst price target cuts, today’s bold infrastructure expansion proves that MARA is aggressively executing its transformation.
For a market that is continuously starved for AI data center capacity, MARA’s massive energy land grab represents a pivotal moment that solidifies its status as a core player in the global technology infrastructure race.
Expands MARA's digital infrastructure platform with access to approximately 2 GW of power capacity
HIF to retain minority ownership in the project
Thousands of jobs expected for Texas
MIAMI, FL and HOUSTON, TX, July 09, 2026 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA”), a leading energy and digital infrastructure company, and HIF USA LLC (“HIF”), a leading energy and sustainable fuels company, today announced that they have entered into a definitive agreement under which MARA will acquire from HIF a large-scale powered land site in Matagorda County, Texas, approximately 90 miles southwest of Houston. HIF will continue its advanced fuels development plans on other sites.
The site encompasses more than 1,200 acres and is expected to provide access to up to an initial 1 GW of grid capacity by October 2027 and up to 2 GW by April 2028. The site is well positioned to support next-generation, efficient digital infrastructure development, and has already received interest from potential High-Performance Computing (“HPC”) tenants. MARA intends to develop the site through its previously announced partnership with Starwood Digital Ventures as a large-scale digital infrastructure campus capable of supporting high-performance computing workloads, as well as flexible compute operations, including Bitcoin mining. Upon execution of a lease with an HPC tenant, HIF will retain a minority ownership interest in the project.
The transaction enables HIF to unlock value from infrastructure assets while maintaining participation in the site’s future development and supporting its broader advanced fuels strategy.
Upon full energization, the site is expected to more than double MARA's potential power capacity to approximately 4.8 GW across its portfolio (including the anticipated close of MARA’s previously announced agreement to acquire Long Ridge Energy & Power), further strengthening MARA's position as a developer and operator of large-scale digital infrastructure.
“This transaction advances our strategy of securing strategically located infrastructure assets capable of supporting high-performance compute and bitcoin workloads,” said Fred Thiel, MARA's chairman and CEO. “As demand for digital infrastructure continues to grow, we believe sites with access to reliable, scalable power will become increasingly valuable. This acquisition meaningfully expands our long-term development pipeline and strengthens our ability to support high-performance compute and maximize the value of that power over time. We look forward to working with our partners at the site to deliver on the project buildout and drive long-term value for all our stakeholders.”
Renato Pereira, CEO of HIF USA, said, “We are pleased to welcome MARA to our long-term partnership with Matagorda County, accelerating our commitment to economic investment and jobs for Texans. The development of this digital infrastructure serves as a powerful economic anchor to strengthen Matagorda County and create local career opportunities for a prosperous future. We have given Notice to Proceed for construction on the switchyard to connect the site to the grid. We continue work on our advanced fuels facilities on other sites we control in Texas and worldwide to provide new sources of secure energy supply to meet rapidly growing global demand.”
Site Development Details
Phased construction of the digital infrastructure campus is expected to begin in 2026, contingent upon regulatory approvals.
By combining MARA's expertise in securing and managing large-scale power loads, Starwood Digital Ventures' world-class experience developing and operating data centers, and HIF's history in Matagorda, MARA believes the site is well positioned to support future digital infrastructure opportunities and create long-term value for customers, local communities, and shareholders.
MARA has a proven track record of investing in the communities where it operates while supporting grid reliability and local economic growth. To date, MARA has invested more than $1.2 billion in Texas. MARA intends to continue investing significantly to develop a premier digital infrastructure campus that is expected to support thousands of construction and permanent full-time jobs upon completion.
About MARA
MARA (NASDAQ: MARA) deploys digital energy technologies to advance the world’s energy systems. Harnessing the power of compute, MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. Building on its expertise to redefine the future of energy, MARA develops technologies that reduce the energy demands of high-performance computing applications, from AI to the edge.
About HIF Global
HIF Global is a world leading e-Fuels company developing large scale infrastructure projects to recycle captured CO₂ and produce synthetic fuels for existing engines. The name HIF reflects the company’s mission: to produce Highly Innovative Fuels that contribute to global energy security. HIF already produces e-Fuels at its HIF Haru Oni facility in southern Chile and is developing large scale projects in the United States, Uruguay, Brazil, Australia, and Chile. For more information, visit www.hifglobal.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. All statements, other than statements of historical fact, included in this press release are forward-looking statements. The words “may,” “will,” “could,” “anticipate,” “expect,” “intend,” “believe,” “continue,” “target” and similar expressions or variations or negatives of these words are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements include, among other things, statements related to the occurrence of any event, change or other circumstance that could give rise to the exercise of any return or forfeiture right under, the purchase agreement entered into in connection with MARA’s acquisition of the site; MARA’s planned development of the site as a digital infrastructure campus; the expected power capacity (including as a result of the agreement to acquire Long Ridge Energy & Power), scalability and performance of the site; the anticipated ability to commercialize the site’s power capacity for high-performance compute and bitcoin workloads; the number of construction and other jobs anticipated to be created; and the anticipated benefits of the transaction to MARA. Such forward-looking statements are based on management’s current expectations about future events as of the date hereof and involve many risks and uncertainties that could cause MARA’s actual results to differ materially from those expressed or implied in these forward-looking statements. Subsequent events and developments, including actual results or changes in MARA’s assumptions, may cause MARA’s views to change. Readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements included herein are expressly qualified in their entirety by these cautionary statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including uncertainties related to market conditions, the risk that the transaction disrupts MARA’s current plans and operations or diverts management’s attention from its ongoing business, the effect of the announcement of the transaction on the ability of MARA to retain and hire key personnel and maintain relationships with others with whom it does business, the effect of the announcement of the transaction on MARA’s operating results and business generally and the other factors discussed in the “Risk Factors” section of MARA’s most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) and the risks described in other filings that MARA may make from time to time with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and MARA specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law.
MARA Company Contact:
Telephone: 800-804-1690
Email: [email protected]
Coinbase (NASDAQ:COIN | COIN Price Prediction) Head of Institutional Strategy John D’Agostino used a recent CNBC Squawk Box appearance to push back on the wave of skepticism that has followed a brutal stretch for crypto prices. His core argument is that Bitcoin has already survived six major boom-and-bust cycles, making today’s downturn look more like history repeating than a fundamentally new problem.
Why D’Agostino Thinks This Cycle Is Different From the Headlines According to D’Agostino, over the past 15 years, Bitcoin has gone through roughly six major cycles, and in each one the asset has carved out a new higher low before eventually reaching a new higher high once “retail panic” subsides. He told viewers that skeptics are “recycling the same arguments” they have made for years, and that Bitcoin currently trades at roughly 2.5 times the level where bears declared victory in the previous cycle.
His message to investors who bought near recent peaks was patience, on the view that history shows panic-sellers at cyclical lows have tended to lose out. His view is that the current selloff resembles previous Bitcoin cycles that eventually gave way to new highs.
Why He Compares Bitcoin to Gold, Rather Than Cash-Flowing Assets D’Agostino argued that bitcoin meets the classic characteristics of money, listing it as scarce, durable, portable, verifiable, and accepted. He compared it to gold as a store of value that defies traditional discounted cash flow valuation, a key reason, in his view, that conventional equity-style price targets miss the point. D’Agostino’s framework differs from the way investors typically value stocks, as he views Bitcoin instead as a store of value.
Signs Bitcoin Is Going Mainstream D’Agostino pointed to several examples of Bitcoin’s growing adoption:
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Coinbase recently facilitated the first stablecoin-based payment for independent journalists, condensing settlement from 90 days to 1 day. He claimed over 40 countries have committed to buying Bitcoin “in some fashion” for their national balance sheets. He said the “virality of that compute network” makes Bitcoin difficult to unwind in the short term. The Coinbase Connection D’Agostino did not make a specific call on Coinbase shares. The company is, however, the most direct US-listed proxy for crypto activity. Coinbase carries a market cap of roughly $32.2B and reported Q1 2026 revenue of $1.41B, down 30.5% year over year, with a GAAP loss of $1.49 per share driven largely by $482.4M in losses on crypto held for investment. Subscription and services revenue reached $583.5M, or 44% of net revenue, which acts as a buffer when trading slows.
Coinbase also disclosed a 14% headcount reduction targeting roughly $500M in annualized savings, held $10.2B in cash, and posted a 13th consecutive quarter of positive adjusted EBITDA at $303.3M. CEO Brian Armstrong framed the backdrop bluntly: “Crypto is cyclical, and experience tells us it’s never as good, or as bad as it seems.”
What to Watch D’Agostino’s thesis ultimately comes down to whether Bitcoin will continue to follow the long-term pattern he describes. Investors will be watching for continued stablecoin adoption, sovereign and institutional demand, and Coinbase’s growing subscription business, all of which could indicate the crypto ecosystem is maturing beyond its traditional boom-and-bust cycles.
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FOOTHILL RANCH, Calif., /PRNewswire/ -- TAE Power Solutions, a technology company delivering advanced power management and energy storage solutions for a more resilient electric future, today announced the shipment of its first hybrid energy storage prototype system to MARA Holdings, Inc. (NASDAQ: MARA) ("MARA"), a leading energy and digital infrastructure company. This shipment marks the first field deployment of TAE Power Solutions' hybrid energy storage architecture under the companies' previously announced strategic collaboration to develop grid-responsive load management and energy storage solutions for power-intensive digital infrastructure operations.
TAE Power Solutions ships first hybrid energy storage prototype system to MARA under the companies’ previously announced strategic collaboration to develop grid-responsive load management and energy storage solutions for power-intensive digital infrastructure operations. The prototype system will be installed at a MARA site and used for field validation, tuning, development, and operational testing. The shipment represents a key milestone in the companies' commercial relationship and advances TAE Power Solutions' development of hybrid energy storage systems for demanding industrial power applications.
TAE Power Solutions' hybrid architecture combines battery energy storage, ultracapacitor technology, advanced power electronics, and intelligent controls to support both sustained energy needs and fast-response power events. By pairing batteries with ultracapacitors, the system is designed to enable customers to manage load volatility, transient conditions, and high-performance duty cycles in applications where conventional battery-only energy storage systems may face performance or lifecycle limitations.
"Shipping our first hybrid energy storage prototype to MARA is an important step in our collaboration to move this technology from development into a real-world operating environment," said Francisco Garcia, General Manager, Stationary Energy Storage at TAE Power Solutions. "MARA's operating profile gives us a valuable opportunity to validate performance, collect field data, and refine the system ahead of future production deployments. It is exactly the type of demanding power environment where hybrid storage can demonstrate its value."
MARA is expected to use the prototype system as a development platform to refine system performance and operating modes at one of its sites, ahead of additional production hybrid energy storage system deployments planned for later this year. The deployment supports the companies' ongoing collaboration focused on managing load variability and supporting grid efficiency.
TAE Power Solutions' hybrid energy storage platform is part of the company's broader portfolio of advanced energy storage and power management solutions for industrial, grid, and data center applications. The company's technology leverages its foundation in high-speed power electronics and precision control systems originally developed by TAE Technologies, Inc. ("TAE") for its fusion energy programs.
Quick Facts:
Designed to extend battery life: Ultracapacitors can support a much higher number of charge / discharge cycles than conventional batteries, making them well suited for rapid power fluctuations. By routing those high-stress events through ultracapacitors, the hybrid system is designed to reduce battery cycling stress and support longer battery operating life. Built for demanding energy profiles: As an integrated system, the hybrid platform is designed to support both short-duration power events and sustained energy needs in demanding applications such as high-performance computing and AI data centers. Rooted in fusion-derived power expertise: The platform applies TAE's high-speed power management experience from fusion energy development to commercial energy and compute infrastructure applications. About TAE Power Solutions
TAE Power Solutions is developing advanced power management and energy storage technologies for electric mobility, stationary storage, and critical power applications. A subsidiary of TAE, the company applies power electronics, controls, and energy storage expertise originally developed for fusion research to help make electrification more efficient, resilient, and scalable. For more information, visit https://power-solutions.tae.com/
Forward-Looking Statements
This communication contains statements that express the opinions, expectations, beliefs, plans, objectives, assumptions or projections of TAE Power Solutions' (collectively with any of its successors, subsidiaries or affiliates, the "Company", "TPS" or "us") regarding future events or future results, in contrast with statements that reflect historical facts. All statements, other than statements of historical fact, included in this communication are forward-looking statements. When used in this presentation, words such as "may," "assume," "forecast," "could," "should," "will," "plan," "believe," "anticipate," "intend," "estimate," "expect," "project," "designed," "budget" and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events at the time such statement was made. Such statements are subject to a number of assumptions, risk and uncertainties, many of which are beyond the control of the Company. As a result, these forward-looking statements are not a guarantee of our performance, and you should not place undue reliance on such statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.
In the latest close session, Marathon Digital Holdings, Inc. (MARA - Free Report) was down 3.51% at $14.03. This move lagged the S&P 500's daily gain of 1.18%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 2.07%.
Heading into today, shares of the company had gained 1.11% over the past month, lagging the Finance sector's gain of 1.96% and outpacing the S&P 500's loss of 2.9%.
Market participants will be closely following the financial results of Marathon Digital Holdings, Inc. in its upcoming release. The company is predicted to post an EPS of -$0.44, indicating a 45.68% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $203.96 million, indicating a 14.48% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.67 per share and revenue of $822.82 million, which would represent changes of +54.74% and -9.29%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Marathon Digital Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Marathon Digital Holdings, Inc. holds a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 38% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?
Let's take a look at what these Wall Street heavyweights have to say about Marathon Digital Holdings, Inc. (MARA - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
Marathon Digital currently has an average brokerage recommendation (ABR) of 1.98, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 15 brokerage firms. An ABR of 1.98 approximates between Strong Buy and Buy.
Of the 15 recommendations that derive the current ABR, eight are Strong Buy, representing 53.3% of all recommendations.
Brokerage Recommendation Trends for MARA
Check price target & stock forecast for Marathon Digital here>>>
The ABR suggests buying Marathon Digital, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
ABR Should Not Be Confused With Zacks RankAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Is MARA Worth Investing In?Looking at the earnings estimate revisions for Marathon Digital, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at -$1.67.
Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Marathon Digital. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Marathon Digital.
When most tech sector investors think of neocloud businesses, the ones that come to mind are Nebius (NBIS 2.79%) and Iren (IREN 3.78%). And both of them have performed well for those who have held their shares over the last year and a half, delivering multibagger returns.
However, at this point, the AI data center operators offering investors the best chances for high returns may be a couple that aren't on most people's radars.
Mara Holdings (MARA 1.01%) and Soluna Holdings (SLNH 3.59%) don't receive as much attention in this industry. They are smaller than Nebius and Iren, but both have pivoted away from crypto mining and now have multigigawatt pipelines of AI data center projects under development. These projects should produce tremendous recurring revenues once they are complete. Here are some key details to consider when comparing these two growth stocks.
Image source: Getty Images.
Soluna Holdings has a larger gigawatt pipeline If you're looking just at their development pipelines, Soluna Holdings is the winner. It closed out the first quarter with 4.3 gigawatts (GW) of data centers in the works. Mara Holdings only said it had 2.2 gigawatts of combined operational and development capacity in a recent press release.
For data center operators, securing gigawatts of power and development capacity puts them on course for higher annual recurring revenues in the future. Soluna Holdings has more potential, especially since it has added gigawatts quickly. The company's pipeline exceeded 1 gigawatt in Q3 2025 and reached 4.3 gigawatts in Q4 2025. Management cited "new curtailment assessments, active term sheet discussions, and six new development-stage projects" as the catalysts that resulted in that elevated power pipeline.
Soluna Holdings is following a similar playbook to Iren's: Get the gigawatts now and figure out the monetization later. For now, Soluna Holdings continues to burn through cash, but that's a problem across the entire industry.
Mara Holdings is closer to monetizing its sites Although Soluna Holdings has a more impressive development pipeline, most of its sites are still in the early stages of construction. Mara Holdings is closer to artificial intelligence (AI) monetization, and the company recently outlined a near-term goal of delivering more than 1 gigawatt of IT capacity. Most of Soluna Holdings' 4.3 gigawatt pipeline is multiple years away from energization.
The longer it takes for neocloud providers to build and monetize AI data centers, the more they will have to rely on financing. Higher interest rates will take a toll on these companies' finances, but since Mara Holdings is closer to the finish line with its projects, it won't be affected as much.
Right now, neither of these companies is making much money. Soluna Holdings made $9.4 million in Q1, which was a 58% year-over-year increase, from a mix of data center hosting and crypto mining. Mara Holdings reported $174.6 million in revenue. Although it's a much higher figure, it represents an 18% year-over-year decline and is from crypto mining. Both companies reported heavy net losses as they work to break free from their unprofitable crypto mining business models.
Mara Holdings is making more progress in that regard. The company recently entered a partnership with Starwood Capital Group to jointly develop, finance, and operate digital infrastructure projects across Mara Holdings' existing energy capacity. That deal reduces Mara Holdings' financial burden as it seeks to capitalize on the AI build-out. Soluna Holdings also uses joint ventures to minimize its total costs.
These arrangements are good in the short run, but they involve giving up a percentage of the total revenue that these sites can generate. Since Mara Holdings is closer to monetization, it benefits from the present returns of joint ventures while maintaining greater near-term financial flexibility to build AI data centers without partners in the future.
The final verdict There's no clear-cut answer as to which of these two picks is the better investment; your conclusion will depend largely on your risk tolerance. Soluna Holdings has greater potential due to its larger development pipeline. It can make substantially more money than Mara Holdings once it gets its new data centers energized and online.
However, Mara Holdings will likely make big tech deals with hyperscalers sooner and generate high annual recurring revenue. The fact that Mara Holdings is closer to monetization also reduces the execution and financial risks for its shareholders.
Both companies are well positioned to benefit from the rising demand for AI, which should continue for some time. Grand View Research projects that the AI market as a whole will grow at a 30.6% compound annual rate from now until 2033, and intensifying public activism in communities across the country against AI data center projects could make existing facilities more valuable.
Goldman Sachs recently released a report projecting that AI data center power demand in 2027 would be twice as much as it was in 2025. It's important to understand the tailwinds driving Mara Holdings' and Soluna Holdings' stock. It just comes down to how long investors are willing to wait for secured gigawatts to turn into dollars.
Bitcoin's wild decade produced two very different stories on Wall Street. MARA Holdings (NASDAQ: MARA | MARA Price Prediction), then known as Marathon Digital, focused on running mining rigs, while Strategy (NASDAQ: MSTR), the software firm formerly known as MicroStrategy, bet its balance sheet on holding the coins themselves.
Yet while Bitcoin continues to trade far below its highs, two closely watched crypto stocks are starting to send a very different message.
The divergence is raising an interesting question: Are crypto stocks seeing a recovery before Bitcoin itself?
Bitcoin Is Still Deep In A DrawdownThe scale of Bitcoin’s decline remains significant.
A drop from roughly $123,641 to $62,533 represents a loss of more than $61,000 per coin and places Bitcoin nearly 50% below its October high.
The cryptocurrency is also down about 29% year-to-date and nearly 38% over the past year, according to TradingView data.
Historically, moves of this magnitude have weighed heavily on crypto-linked equities, particularly miners whose revenues are tied to Bitcoin prices.
That’s what makes the recent technical developments in MARA and HIVE noteworthy.
MARA And HIVE Are Flashing A Different SignalChart created using Benzinga Pro
MARA shares are trading near $14.43 and recently formed a golden cross as the stock’s 50-day moving average climbed above its 200-day moving average.
A similar pattern has emerged at HIVE, where shares are trading around $4.51.
Chart created using Benzinga Pro
For technical traders, golden crosses are often interpreted as evidence that momentum is improving and that investors are beginning to position for a potential recovery.
The signals don’t guarantee higher prices. But they do suggest the market may be becoming more optimistic about the outlook for crypto-related equities despite Bitcoin’s ongoing weakness.
What Are Investors Seeing?One possibility is that investors believe much of Bitcoin’s bad news has already been priced into mining stocks.
Another is that equity investors are looking beyond current cryptocurrency prices and focusing on future catalysts, including improving industry economics, lower competition and the possibility of a broader recovery in digital assets.
HIVE also brings an additional dimension to the conversation. In recent years, the company has expanded into high-performance computing and AI-focused infrastructure, giving investors exposure to themes beyond cryptocurrency mining alone.
A Leading Indicator Or A False Start?Markets often move ahead of fundamentals.
Homebuilders can rally before housing data improves. Semiconductor stocks frequently bottom before chip demand recovers. The same dynamic can sometimes play out in crypto-related equities.
That doesn’t mean Bitcoin has found its bottom.
But with the cryptocurrency still down nearly 50% from its peak and both MARA and HIVE flashing bullish technical signals, investors are left with a question worth watching:
Are crypto miners getting ahead of themselves—or are they seeing a recovery that Bitcoin hasn’t yet priced in?
Image via Shutterstock
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Marathon Digital Holdings, Inc. (MARA - Free Report) closed at $14.42 in the latest trading session, marking a -1.5% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.57%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw a decrease of 1.15%.
Coming into today, shares of the company had gained 20.2% in the past month. In that same time, the Finance sector gained 4.57%, while the S&P 500 gained 2.14%.
Market participants will be closely following the financial results of Marathon Digital Holdings, Inc. in its upcoming release. The company is predicted to post an EPS of -$0.44, indicating a 45.68% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $203.96 million, reflecting a 14.48% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$1.67 per share and a revenue of $822.82 million, demonstrating changes of +54.74% and -9.29%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Marathon Digital Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Marathon Digital Holdings, Inc. holds a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 149, placing it within the bottom 39% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
