$Marathon Digital Holdings Inc

$Marathon Digital Holdings Inc(MARA)$ My take:

I think the hedge fund trade is to go long on BTC and short miners. That's why our short position is so high, and why our SP is unreasonably low.

When BTC goes up, HFs will cover their short on miners, make money on their short and recover on BTC, as it goes up.

So, I don't expect a decent surge in SP, until BTC jumps up.

MARA's short position is almost at 30% (2.29 days to cover). The Institutional Investor position is at 55%.

Where will the volume come from for shorts to cover? Where will the shares come from? They have borrowed 30% of the float and Institutions hold 55%. That leaves 15% to cover 30%.

As far as volume is concerned, the short interest ratio should be around 5 (days to cover). I don't really know how strong an indicator that is, because it is hard to tell where the volume is coming from.

We could be in for a Short Squeeze, if Institutions decide to buy more the closer we get to the run.

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