MARA Holdings Inc Stock Price, News & Analysis

Marathon Digital Holdings (NASDAQ: MARA) announced significant operational updates as of December 1, 2021. The company reported a total liquidity of approximately $1.1 billion, comprising $623.7 million in cash and substantial bitcoin holdings. Marathon completed the deployment of mining equipment in Hardin, MT, receiving around 15,520 ASIC miners in November and increasing total bitcoin production to 2,712.3 BTC for 2021. The company began installations with Compute North and is projected to reach 13.3 EH/s in hash rate by mid-2022, enhancing future production.

Marathon Digital Holdings (MARA) recently announced its participation in two financial conferences in December 2021. The company will present at the D.A. Davidson FinTech & Payments Spotlight on December 2, 2021, and the B. Riley Securities Crypto Conference on December 8, 2021. Marathon is recognized as one of the largest Bitcoin self-mining companies in North America, focusing on digital asset technology. Investors are reminded that investments carry risks, and historical performance may not predict future results.

Marathon Digital Holdings has expanded its agreement with Compute North to host over 100,000 bitcoin miners across predominantly wind and solar energy farms. This expansion ensures that Marathon has secured hosting for all its previously purchased miners, resulting in a projected hash rate of approximately 13.3 EH/s and a blended electricity cost of $0.042 per kWh. The initiative emphasizes environmental sustainability, aiming for 77% carbon neutrality. Deployments are currently underway, with expectations of new facilities operational by mid-2022.

Marathon Digital Holdings (MARA) announced the pricing of a $650 million offering of 1.00% convertible senior notes due 2026. This marks an increase from the previously set $500 million. The notes will settle on or about November 18, 2021. The initial conversion price is approximately $76.17 per share, a 37.5% premium over the last closing price of $55.40. Marathon estimates net proceeds of $633.2 million and plans to use these funds for corporate purposes, including acquiring bitcoin and mining machines.

Marathon Digital Holdings (MARA) announced plans for a private offering of $500 million in convertible senior notes due 2026. Subject to market conditions, the offering may include an additional $75 million option for initial purchasers. The notes will be unsecured, maturing on December 1, 2026, with interest paid semi-annually. Proceeds will be used for general corporate purposes, primarily acquiring bitcoin or mining machines. The offering has not been registered under the Securities Act. Forward-looking statements are included, subject to market risks.

Marathon Digital Holdings reported a remarkable third-quarter performance, with revenues soaring 76% to $51.7 million, and a staggering 6,091% year-over-year increase. The company produced 1,252 self-mined bitcoins, a 91% rise from the previous quarter. Non-GAAP income from operations reached $43.5 million, or $0.43 per diluted share. As of September 30, 2021, Marathon held approximately 7,035 bitcoins valued at around $307.6 million. The company also secured a $100 million line of credit to enhance liquidity, bolstering its growth strategy in the competitive bitcoin mining sector.

Marathon Digital Holdings (NASDAQ:MARA) has appointed Adam Swick as vice president of strategy, reporting to CEO Fred Thiel. Swick brings extensive experience in corporate strategy, cryptocurrency, and management consulting, previously working at Refinery Ventures and Kraken Digital Asset Exchange. With a focus on enhancing growth through strategic opportunities, his addition aims to strengthen Marathon's position in the Bitcoin mining sector. CEO Thiel expressed confidence in Swick's expertise aligning with the company's mission during a significant growth phase.

Marathon Digital Holdings (NASDAQ:MARA) reported a 23% increase in Bitcoin production for October 2021, producing 417.7 BTC and raising total holdings to 7,453 BTC. The fair market value of these holdings is approximately $457.4 million. With cash on hand of $20.9 million and total liquidity at $478.3 million, the company also successfully expanded its mining fleet to 27,280 miners, achieving a total hash rate of 3.0 EH/s. Management is optimistic about future shipments of miners and the potential for further production growth.

Marathon Digital Holdings (NASDAQ: MARA) announces the appointment of Sam Doctor to its advisory board, enhancing its strategic capabilities in Bitcoin mining. Doctor, a seasoned finance professional with over 18 years of experience, currently serves as chief strategy officer at BitOoda and has a strong background in data science and equity analysis. His expertise is expected to guide Marathon's decision-making in optimizing mining profitability and managing risks. The advisory board aims to support Marathon's growth by leveraging insights from industry experts.