If BTC goes up, MARA $Marathon Digital Holdings Inc(MARA)$ goes up, if BTC goes down, MARA goes down. Pity that management does not believe in higher BTC and share prices, otherwise they would not just have exchanged approx. 400 mn of their 2026 notes into shares and diluted their shareholders. And coz they are constantly selling shares there is never a short squeeze. Currently the borrowing fee despite 27% of free float shorted is less than 3%. People who short Mara get more interest than they pay in borrowing fee.
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