Is MARA, The World's Largest Bitcoin Miner A Buy?

🌟🌟🌟MARA $Marathon Digital Holdings Inc(MARA)$ the world's largest Bitcoin Miner's share price is down 9% in after hours trading on Tuesday as Q3 24 Earnings came in below expectations.  However MARA has  jumped  a huge 43% in the past 5 days.  This is due to Donald Trump's post election euphoria. 

MARA reported quarterly losses of 34 cents per share which is in line with consensus estimate.  However its Q3 24 sales of USD131. 6 million missed estimates of USD 151.60 million.   Nonetheless it was an improvement from Q2 24 when MARA reported a net loss of USD 199.7 million. 

MARA is one of the most globally diversified publicly listed miners in the industry with 15 data centers located on 4 continents.  MARA's International team is actively developing relationships with energy partners in the Middle East and Africa.  MARA aims to have 50% of its business come from outside the US by 2028.  Its Abu Dhabi liquid immersion site is a crown jewel in MARA's portfolio at almost 100% uptime in harsh desert and humid environment. 

On November 11, MARA announced the acquisition of 2 operational data centers in Hannibal and Hopedale, Ohio with 222 megawatts of capacity and interconnection approval to expand by another 100 megawatts.   At the same time, MARA have begun developing  a 150 megawatts operation in Ohio.  All 3 facilities have a combined capacity of 372 megawatts which MARA intends to fully energise by the end of 2025.

MARA said that owning the sites would provide them with greater operational control and further reduce their operating costs by up to 50%.  MARA has a laser focus on using zero cost energy as Bitcoin mining uses up a lot of energy. 

For the latest Q3 24 quarter, MARA held 26,747 Bitcoin (BTC) on its balance sheet.  It mined 2,070 Bitcoins and purchased 6210 Bitcoins.  Of the 6210 Bitcoins purchased, 4144 were acquired using proceeds from a USD 300 million offering of convertible senior notes at an average price of USD 59,500 per Bitcoin.  As of the end of Q3 24, MARA has an improvement in BTC per share yield of 29%.  MARA did not sell any Bitcoins. 

I have invested in MARA 3 months ago as I could see the immense upside potential of this Bitcoin Miner.  MARA is firing on all cylinders to use zero carbon energy in order to reduce its mining costs and diversifying across 4 continents.  With President Elect Donald Trump in charge and the Republican Party winning both the House of Representatives and Senate, he has the mandate of the American people to Make America Great Again. 

Donald Trump is very much pro crypto and wants to make America the crypto capital of the world.  He said that he intends to relax regulations and even create a Bitcoin reserve.  Bitcoin, the oldest and largest Cryptocurrency has seen its value go up by 30% in the past week to reach an all time high of USD 90,000.  MARA, being the largest Bitcoin Miner is set to benefit from this tailwind. 

Is MARA a Buy?  I would say Absolutely!   With the possibility of Bitcoin hitting USD 100,000, MARA is poised for greater growth ahead. 

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