MARA Holdings Inc Stock Price, News & Analysis

MARA (NASDAQ: MARA), a leader in digital asset compute supporting energy transformation, has secured a $200 million line of credit backed by a portion of its bitcoin holdings. The company may utilize these funds for strategic opportunities and general corporate purposes.

This financial move provides MARA with additional liquidity and flexibility to pursue potential growth initiatives. However, the company cautions that investing in its securities involves a high degree of risk, and investors should carefully consider the risks and uncertainties before making investment decisions.

MARA, a leading bitcoin miner, reported significant growth in its September 2024 operations. The company increased its energized hash rate by 5% to 36.9 EH/s and saw a 6% increase in block wins to 207. BTC production grew by 5% to 705 BTC, with an average daily production of 23.5 BTC. MARA's BTC holdings reached 26,842 BTC, surpassing a 'marathon worth' of bitcoin HODL.

The company remains on track to achieve its target of 50 EH/s by the end of 2024. Ongoing projects include the conversion of the Granbury data center to immersion containers, expected to be completed before year-end. MARA also became the first publicly traded digital asset compute company to submit a disclosure to the Climate Disclosure Project (CDP), demonstrating its commitment to environmental transparency.

MARA Holdings Inc. (NASDAQ:MARA) has announced significant changes to its board of directors, effective September 1, 2024. Janet George and Barbara Humpton have been appointed to the board, replacing Kevin DeNuccio and Said Ouissal. Additionally, current board member Doug Mellinger has been named lead independent director.

George brings expertise in AI, data centers, and high-growth technology environments, having served as Corporate VP and GM of Data Center & AI at Intel. Humpton, President and CEO of Siemens USA, offers extensive experience in energy-efficient technologies and smart infrastructure. These appointments aim to enhance MARA's strategic initiatives in AI, data centers, and energy.

The changes reflect MARA's commitment to adopting best practices as an S&P SmallCap 600 company and aligning with its expanding digital infrastructure technology and AI data center co-location strategy.

MARA Holdings, Inc. (NASDAQ: MARA) has released its unaudited Bitcoin production and mining operation updates for August 2024. Key highlights include:

• Energized hash rate increased 11% month-over-month to 35.2 EH/s
• 196 blocks won in August, a 2% decrease from July
• BTC production decreased 3% to 673 BTC
• BTC holdings increased to 25,945 BTC

MARA remains on track to reach its target of 50 EH/s by the end of 2024. The company is converting a large portion of its Granbury, Texas data center from air-cooled to immersion containers, with plans to transition at least 30 more in September. MARA currently owns and operates approximately 54% of the 1.1 gigawatts of power in its portfolio, aiming to become one of the industry's most cost-efficient operators.

WiSA Technologies (NASDAQ: WISA) has executed a $210 million definitive agreement to purchase assets from Data Vault Holdings Inc. The deal includes High-Performance Computing (HPC) software and Acoustic Technologies IP, creating a licensing and technology company with an extensive patent portfolio. The purchase consists of 40 million shares of common stock at $5 per share plus a $10 million 3-year Note.

The resulting company will offer two solutions: Data Sciences, licensing HPC software applications and Web 3.0 data management, and Acoustic Sciences, licensing spatial and multichannel HD sound transmission. The transaction is expected to close by December 31, 2024, subject to stockholder approval.

Marathon Digital Holdings (NASDAQ: MARA) has successfully completed a $300 million offering of 2.125% convertible senior notes due 2031. The net proceeds from the sale were approximately $292.5 million after deducting initial purchasers' discounts and commissions. Notably, MARA used a portion of these proceeds to acquire approximately 4,144 bitcoin for $249 million at an average price of $59,500 per bitcoin.

The notes, sold to qualified institutional buyers, are unsecured, senior obligations of MARA with a 2.125% annual interest rate. They are convertible into cash, shares of MARA's common stock, or a combination thereof, at MARA's discretion. The initial conversion rate is 52.9451 shares per $1,000 principal amount, equivalent to a conversion price of $18.89 per share.

Marathon Digital Holdings (NASDAQ: MARA) has announced the pricing of $250 million in 2.125% convertible senior notes due 2031. The offering, expected to close on August 14, 2024, includes an option for initial purchasers to buy an additional $50 million in notes. The notes will be convertible into cash, MARA common stock, or a combination at the company's discretion, with an initial conversion rate of 52.9451 shares per $1,000 principal amount.

MARA estimates net proceeds of approximately $243.8 million, which will be used primarily to acquire bitcoin and for general corporate purposes. The notes will be sold to qualified institutional buyers under Rule 144A of the Securities Act. This private offering is not registered and is only available through a private offering memorandum.

Marathon Digital Holdings (NASDAQ: MARA) has announced plans to offer $250 million in convertible senior notes due 2031 to qualified institutional buyers. The company may grant initial purchasers an option for an additional $37.5 million. The notes will be unsecured, senior obligations with semi-annual interest payments and will mature on September 1, 2031. MARA can redeem the notes after September 6, 2028, while holders can require repurchase on March 1, 2029. The notes will be convertible into cash, MARA common stock, or a combination. Proceeds will be used to acquire bitcoin and for general corporate purposes.

MARA, a leading Bitcoin miner, reported significant growth in July 2024. The company won 201 blocks, a 27% increase from June, and produced 692 BTC, up 17% month-over-month. MARA's average operational hash rate grew 5% to 27.5 EH/s. The company increased its BTC holdings to 20,818 BTC, with total cash and BTC reaching $1.6 billion as of July 31, 2024.

MARA is transitioning its Granbury site to immersion containers, expecting temporary downtime but improved efficiency. The company aims to reach a 50 EH/s hash rate goal by the end of 2024. MARA now owns and operates 54% of its 1.1 gigawatt power portfolio and plans to increase this percentage for cost savings.