FrankCollins
05-28

$Marathon Digital Holdings Inc(MARA)$ The big impacts to MARA reaching a new high are dilution, halving, Bitcoin mining difficulty and MARA hash growth. I estimated that post halving, Bitcoin would need to reach $~116K for MARA to achieve the same gross production revenue as they did in March assuming their average hash rate is within 15% of their energized hash. For their share price to grow beyond the rise in Bitcoin, they still need to report positive earnings from their production. Their daily production has been inconsistent, but very positive over the past couple of days. Stock dilution for all the miners is a killer to reaching future new highs. However, MARA has a much improved balance sheet, paid for hash growth in 2024, and the highest Bitcoin holdings.


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