MicroStrategy (MSTR, Financial) is basically just a mobile software company that buys and holds Bitcoin. While MARA Holdings Inc. (MARA, Financial), previously known as Marathon Digital Holdings, on the other hand is a specialized company that is linked to Bitcoin directly.
If MSTR's stock price can gain much from riding the bitcoin-bull rally, then we can assume that the shares of MARA could outperform the MSTR's rally.
MARA is a Bitcoin miner, and they operate large-scale data centers and involved in the production of new Bitcoin through the mining operations. Now MARA stands as the second largest publicly traded Bitcoin holder that produces nearly 25 Bitcoins daily.
Here are some of the latest updates on MARA Holdings:
Fundraising Plan:
Same story as MSTR, MARA just announced recently that they are fundraising by releasing an $850 million zero-coupon convertible note offering, with an additional $150 million option for initial purchasers to support them to accumulate Bitcoin and make some growth initiatives to propel its financial performance.
Financial Performance:
In the third quarter of 2024, MARA reported $131.6 million in revenue which was a 35% increase from the previous year. However, the increasing revenue didn't help the company to make profit instead they reported an adjusted loss of 34 cents per share.
Analyst Ratings:
Along with the Bitcoin bull, analysts at Cantor Fitzgerald upgraded their target for MARA stock to $42. They believe that MARA can ride the Bitcoin rally better than MSTR due to its cost-effective Bitcoin mining operations that is cheaper than just purchasing Bitcoin.
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