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CRYPTO is getting clobbered. All miners are getting clobbered too.
If you HODL--you really are getting punished.
You are crazy to keep on holding everything you mine because it forces the company to dilute to keep on growing your machine count.
What a f*!kd up market.
Back in some calls
Which was 4 days ago. Looking for it to trade sideways and recoup some of the over priced shares.
Pretty close to 52wk low, interesting to see if
it dips to 14's, but don't think it will go much lower. imo
Lol, along with the rest of the market.
Dow - 1,100, NAS -700
It appears MARA is a Nightmara! Bitcoin is plummeting today!
Marathon Digital May Start to Sell Some of Its Bitcoins
The miner said any sale would not be imminent, but that it might need about a half-billion dollars in investments to reach its growth objectives this year.
By Aoyon Ashraf
May 4, 2022
Marathon Digital (MARA), one of the largest publicly traded bitcoin miners and “hodlers” of the coins it mines, said that it may consider selling some of the bitcoins it holds, but won’t likely do it in the near-term.
“We may purchase or sell bitcoin in future periods as needed for treasury management or general corporate purposes,” Marathon CFO Hugh Gallagher said during an earnings conference call, although he added that any sale is not imminent.
“I'll say we don't really have an intention to do that [sell bitcoins] in the near-term,” he said, noting that the company is also looking at several other options for financing, including term-loans, revolver loans, equipment financing and an at-the-market equity offering.
The Las-Vegas based miner last sold its bitcoin in October 2020 and has been accumulating and holding onto its mined bitcoin since then, according to a statement. Most recently, Marathon said it holds 9,673 bitcoins, with a fair market value of $365.5 million.
If Marathon sells some of its bitcoins, it would be in-line with its peer, Riot Blockchain (RIOT), which was also a hodler, until recently. Riot sold around $10 million worth of bitcoins in April, after selling about $9.4 million in March. The company said that it is evaluating the level of coins it retains from its monthly bitcoin mining for its operational and expansion cash requirements.
Selling a few bitcoins to backstop expenses would likely be positive news for Marathon shareholders, because it would be a less expensive means of financing. Recently, equipment financing and bitcoin-backed loans have become an emerging trend among miners, as shareholders have been punishing miners that are raising capital by issuing shares.
Marathon didn’t dissect its capital needs, but in the conference call, Gallagher indicated that the miner may need about a half-billion dollars in investments for the remainder of the year for the mining computers it needs to grow, for both orders that have been made and planned.
The miner said on Wednesday, during its earnings results, that its cash on hand was $118.5 million as of March 31, while total liquidity, defined as cash on hand plus available revolving credit facilities, was $218.5 million. The miner plans to reach 23.3 exahashes per second (EH/s) in mining power by early 2023. At the close of Wednesday trading, Marathon’s stock fell about 1% to $17.76 per share.
Not that high my average is 29. Just should have put stop losses on maraturd
Sorry you bought @ 67.00 > Tankathon dip! Maybe buy some $12.00's
Agree! Waiting to see Q1 results next week.....
The more machines and the more access to cheap, sustainable power, the better. Also, how quickly they can deploy delivered machines. Many crypto miners boast about how many machines are ordered--or delivered. The key is the total count of WORKING machines.
In MARA and MIGI for these reasons.
MARA webcast and conference call on Wednesday, May 4, 2022 at 4:30 p.m. EST. Financial results from Q1.
MARA has growing revenues 24/7. Every blockchain transaction is more revenue regardless of bitcoin price. Every day, hour , minute, and second Marathon generates revenues. > 1000's of miners running full bore @ MARA.
Cryptominers that HODL their bitcoins are going to continue to struggle.
You have to sell what you mine--otherwise, you do not have any revenue and your only means of buying more cryptominers is to sell more stock--or take on debt.
I think the jury is in and the verdict is this company sucks. Something is very wrong here.
This pos goes down, if the market goes up, if the market goes down, if bitcoin goes up and if bitcoin goes down.
The Jury is still out
Marathon Digital Holdings to Announce First Quarter 2022 Financial Results
Marathon Digital Holdings, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), one of the largest enterprise Bitcoin self-mining companies in North America, will hold a webcast and conference call on Wednesday, May 4, 2022 at 4:30 p.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2022. Financial results will be published in a press release prior to the call and available on the investor relations section of the Company’s website at ir.marathondh.com.
To register to participate in the conference call, or to listen to the live audio webcast, please use this link. The webcast will also be broadcast live and available for replay via the investor relations section of the Company’s website at ir.marathondh.com.
Earnings Webcast and Conference Call Details
Date: Wednesday, May 4, 2022
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Registration link: LINK
If you have any difficulty connecting with the conference call, please contact Marathon’s investor relations team at ir@marathondh.com.
Nothing is wrong. Look at the book millions in revenues and millions in salaries mara will always be rich on the Books
Something is very wrong here. I am guessing the report next week will be ugly. No bottom in sight.
Virginia Retirement Systems ET AL Makes New Investment in Marathon Digital Holdings, Inc. (NASDAQ: $MARA )
Posted by Logan Wallace on Apr 22nd, 2022
Marathon Digital logoVirginia Retirement Systems ET AL acquired a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Rating) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,600 shares of the business services provider’s stock, valued at approximately $315,000.
A number of other hedge funds and other institutional investors have also modified their holdings of MARA. Sterling Investment Advisors Ltd. raised its holdings in Marathon Digital by 93.3% in the third quarter. Sterling Investment Advisors Ltd. now owns 802 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 387 shares in the last quarter. Atticus Wealth Management LLC bought a new stake in shares of Marathon Digital in the 3rd quarter worth about $27,000. Altshuler Shaham Ltd acquired a new stake in shares of Marathon Digital in the 3rd quarter valued at about $32,000. Wells Fargo & Company MN raised its stake in shares of Marathon Digital by 56.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,307 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 471 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in shares of Marathon Digital by 3,851.9% in the 4th quarter. Carroll Financial Associates Inc. now owns 1,067 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 1,040 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.
Shares of MARA stock opened at $19.32 on Friday. Marathon Digital Holdings, Inc. has a 52 week low of $18.32 and a 52 week high of $83.45. The company has a quick ratio of 49.89, a current ratio of 49.89 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average of $24.98 and a two-hundred day moving average of $35.58. The company has a market cap of $1.99 billion, a P/E ratio of -56.82 and a beta of 4.60.
Marathon Digital (NASDAQ:MARA – Get Rating) last issued its earnings results on Tuesday, March 1st. The business services provider reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Marathon Digital had a positive return on equity of 18.77% and a negative net margin of 24.04%. The firm had revenue of $60.28 million for the quarter, compared to analyst estimates of $60.23 million. Analysts expect that Marathon Digital Holdings, Inc. will post 2.69 EPS for the current fiscal year.
MARA has been the topic of a number of recent analyst reports. B. Riley cut their target price on shares of Marathon Digital from $59.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, April 5th. Zacks Investment Research upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research report on Friday, April 8th. Compass Point lifted their target price on Marathon Digital from $48.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, March 8th. BTIG Research initiated coverage on shares of Marathon Digital in a report on Tuesday, January 18th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Marathon Digital in a report on Friday, January 28th. They set a “buy” rating and a $51.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $58.83.
About Marathon Digital
Marathon Digital Holdings, Inc operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund.
More consumers want to use cryptocurrencies for purchases, but merchants are hesitant to accept them
7:46 am ET April 22, 2022 (MarketWatch)
Print
By Frances Yue
Most merchants and vendors are traditionally low margin businesses and they can't afford to take the risks, one analyst says.
Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I'm Frances Yue, crypto reporter at MarketWatch, and I'll walk you through the latest and greatest in digital assets this week so far.
Find me on Twitter at @FrancesYue_ to send feedback or tell us what you think we should cover.
Subscribe Here to Distributed Ledger
Crypto in a snap
Bitcoin has gained 3.6% over the past seven days, recently trading at around $41,596, according to CoinDesk data. Ether was up 1.8% over the seven-day stretch to around $3,066. Meme token Dogecoin logged a 1.2% loss while another dog-themed token, Shiba Inu , traded 2.1% lower from seven days ago.
Crypto Metrics
Biggest Gainers Price %7-day return
STEPN $3.19 46.2%
Synthetix Network Token $6.39 24%
EOS $2.77 17.2%
Monero $275.41 16.2%
PancakeSwap $9.56 15.3%
Source: CoinGecko as of April 21
Biggest Decliners Price %7-day return
Helium $19.25 -8.4%
Osmosis $5.74 -7.1%
Waves $20.49 -6.8%
Shiba Inu $0.000025 -5.9%
Klaytn $0.99 -4.9%
Source: CoinGecko as of April 21
Accepting crypto as payment?
Consumer demand for using cryptocurrencies for purchases has been growing, but for most merchants to accept them as a form of payment remains a headache.
About 34% of consumers are interested in using cryptocurrencies to buy items online, according to a recent study by online shopping platform Smarty. Meanwhile, Insider Intelligence estimated that 3.6 million US adults will use crypto to make a purchase this year, up 68.6% from last year, a report released Wednesday shows.
In contrast, only 4% of merchants are accepting crypto as a method of payment, according to a study by Crypto.com released in February.
For most merchants, accepting crypto means a variety of risks, according to Shane Rodgers, co-founder and chief executive at PDX Advisors, which backs cryptocurrency PDX Coin. Crypto prices are volatile while crypto exchanges remain largely unregulated. Merchants also have to bear custody risks, Rodgers noted.
Some companies, such as electric car maker Tesla (TSLA), hold bitcoin on its balance sheet, but most merchants and vendors "are traditionally low margin businesses." "They can't afford to take that risk," Rodgers told Distributed Ledger in an interview.
As a result, merchants that enable crypto payment usually partner with third-party services that allow them to convert crypto to fiat currencies, Rodgers noted.
Coinbase's NFT marketplace
Coinbase (COIN) launched a beta version of its social non-fungible token marketplace on Wednesday, six months after it first announced the plan in October.
Beta testers, who are invited based on their positions on the waitlist, will be able to create profiles to buy and sell NFTs using any self-custody wallet, according to the company's blog post. Users can also like, comment on and browse other NFTs on the platform, with functions similar to Instagram.
Coinbase made the push as part of its efforts to diversify its businesses and boost revenue, as crypto trading volume remains sluggish overall. The company's shares are trading at around $137.80 Thursday afternoon, heading to its lowest close in history.
Read: NFT frenzy seems to be cooling off. Here's why some investors remain bullish
Crypto companies, funds
Michael Saylor's MicroStrategy Inc.(MSTR) lost 1.57% on Thursday to $442.01, while it was down 2% over the past five days.
Mining company Riot Blockchain Inc.(RIOT) shares dropped 4.5% to $13.32, and it was down 11% over the past five days. Shares of Marathon Digital Holdings Inc.(MARA) were down 3.3% to $20.03, with a 5.7% loss over the past five days. Another miner, Ebang International Holdings Inc. (EBON), traded 3.8% lower to $1.02, with a 2.9% loss over the past five days.
Overstock.com Inc.(OSTK)'s shares were down 3% to $36.14. The shares have declined 5.9% over the five-session period.
Shares of Block Inc.(SQ), formally known as Square, fell 4% to $109.96, with a 9.2% loss for the week. Tesla Inc. (TSLA)'s shares went up 6% to $1035.87 while its shares gained 5.1% for the past five sessions.
PayPal Holdings Inc.(PYPL) lost 5% to $90.12, while it was down 11.8% over the five-session stretch. Nvidia Corp.(NVDA) lost 4.5% to $205.13, while was looking at a 3.5% loss over the past five trading days.
Advanced Micro Devices Inc.(AMD) lost 3.1% to $91.10 on Thursday, while it lost 2.2% from five trading days ago.
Among crypto funds, ProShares Bitcoin Strategy ETF(BITO) gained 0.8% to $25.95 Thursday, while Valkyrie Bitcoin Strategy ETF(BTF) rose 0.6% to $16. VanEck Bitcoin Strategy ETF(XBTF) gained 1.6% to $41.02.
Grayscale Bitcoin Trust(GBTC) traded up 0.6% to $30.25.
Must Reads
-Frances Yue
(END) Dow Jones Newswires
Multiple bottom chart. Hoping it holds through earnings report?
$MARA Took a May/June $22.5/$23 Call position Thursday... Looking for ~$30+ this time around...
would be nice if bleeding slows...
i have no dry powder for this --- boohoo
turbulent market fun
cheers
MARA > $750M mixed shelf registration > Don't forget about that. It's ongoing probably through the summer! Company is growing a mountain of cash.
starting to look yummy here... ready to reload soon...
MARA discloses that it produced 1258 self-mined bitcoin in the first quarter of 2022. The stock initially saw a small boost upon release of the news. The self-mined bitcoin production increased 556% year-over-year from 191.8 bitcoin in the last year's quarter. Further, as of March 31, 2022, Marathon said it held nearly 9,373 of total bitcoin with a fair market value of $427.7 million.
Marathon Digital mined 436 bitcoins in March, a M/M jump of 21%
Source: Seeking Alpha
To read the full story on Seeking Alpha, click here.
32.73 > hod > MARA continues upward momo w/ bitcoin.
Bitcoin surging now!
Breaking out of the trading range, things looking real good from here!
Marathon Digital Holdings Announces Bitcoin Production and Mining Operation Updates for February 2022
8:05 am ET March 4, 2022 (Globe Newswire) Print
Marathon Digital Holdings, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), one of the largest enterprise Bitcoin self-mining companies in North America, today published unaudited bitcoin ("BTC") production and miner installation updates for February 2022.
Historical and Potential Hash Rate Growth Based on Current Shipment Schedules of Previously Purchased Miners (Subject to Change)
Corporate Highlights as of March 1, 2022
-- Produced 360.3 self-mined bitcoin during February 2022, a 729% increase from 43.4 self-mined bitcoin in February 2021
-- Increased total bitcoin holdings to approximately 8,956 BTC with a fair market value of approximately $386.8 million
-- Increased hash rate 8% from the prior month after successfully deploying and energizing 2,800 miners in the month of February
-- Received approximately 7,600 top-tier ASIC miners from BITMAIN during the month of February
-- Existing mining fleet consists of 35,510 active miners producing approximately 3.8 EH/s
-- After successfully breaking the mold on deploying behind the meter at scale, deployments are expected to continue to accelerate throughout the rest of 2022
Bitcoin Production Update
Since January 1, 2021, Marathon's mining fleet has produced approximately 4,019 bitcoin. Since January 1, 2022, Marathon's mining fleet has produced approximately 822 bitcoin. By month, the Company's bitcoin production was as follows:
*Note: Upgrades and maintenance to the power generating station in Hardin, MT caused Marathon's bitcoin mining operations in Hardin, MT to operate at substantially reduced capacity in November 2021, negatively impacting the Company's bitcoin production for the month. For further information, see the press release issued on 12/03/2021.
Total Network Hash Rate Source: https://www.blockchain.com/charts/hash-rate
The Company last sold bitcoin on October 21, 2020, and since then, has been accumulating or "hodling" all bitcoin generated. As a result, Marathon currently holds approximately 8,956 BTC, including the 4,813 BTC the Company purchased in January 2021 for an average price of $31,168 per BTC. On March 1, 2022, the fair market value of one bitcoin was approximately $43,193, implying that the approximate fair market value of Marathon's current bitcoin holdings is approximately $386.8 million.
Miner Installations and Hash Rate Growth
In February 2022, Marathon and Compute North received permission to begin energizing miners at new locations. As a result, the Company increased its hash rate 8% from the prior month as approximately 2,800 miners were brought online. As of March 1, 2022, Marathon has successfully deployed 35,510 miners, and the Company's hash rate was approximately 3.8 EH/s. Now that Marathon has broken the mold on deploying behind the meter at scale, deployments have begun in earnest, and the Company expects deployments to continue accelerating throughout the rest of 2022.
Construction of Compute North's new facilities, which are predominantly "behind the meter" at wind and solar farms, remain underway. These facilities are at multiple locations and include a 280-megawatt (MW) site in west Texas. Marathon continues to expect all of its purchased miners to be deployed by early 2023, at which point, the Company's mining operations are expected to consist of approximately 199,000 bitcoin miners, producing approximately 23.3 EH/s. Additionally the Company continues to expect its mining operations to be 100% carbon neutral by the end of 2022.
Management Commentary
"In February, Compute North received permission to begin bringing miners online at new locations, and as a result, we increased our hash rate 8% month-over-month after successfully energizing 2,800 miners," said Fred Thiel, Marathon's CEO. "We produced 360 bitcoin in February, which is a 729% increase year-over-year. Relative to the prior months of January and December, our February production was impacted by increasing network difficulty, continued fluctuations at the power station in Montana, and voluntary curtailment of our miners in Texas to support the grid during a recent storm. We expect our monthly production reliability to improve as we diversify deployments across new locations.
"Deploying behind the meter at scale is a method that required additional permitting and coordination from the various parties involved. Now that we have broken the mold on this process, we expect deployments at new facilities to continue to accelerate into the second quarter and throughout the rest of the year. Our primary objectives for 2022 are to effectively deploy our miners, achieve our growth targets, and continue expanding our competitive moat, and we believe we are well positioned to achieve each of those goals. We look forward to supporting the adoption, security, and evolution of Bitcoin by growing our mining operations to 23.3 EH/s and achieving 100% carbon neutrality over the coming quarters."
Investor Notice
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2020. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or Bitcoin hash rate may also materially affect the future performance of Marathon's production of Bitcoin. Additionally, all discussions of financial metrics assume mining difficulty rates as of March 2022. The total network's hash rate data is calculated from a third-party source, which is available here: https://www.blockchain.com/charts/hash-rate. Data from third-party sources has not been independently verified. See "Safe Harbor" below.
Forward-Looking Statements
Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "should," "expect," "anticipate," "estimate," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
About Marathon Digital Holdings
Marathon is a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets.
Marathon Digital Holdingsâ?¯Companyâ?¯Contact:
Charlie Schumacher
Telephone: 800-804-1690
Email: charlie@marathondh.com
Two figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/2396abd4-98c4-41e2-9a1d-215f3378b10f
https://www.globenewswire.com/NewsRoom/AttachmentNg/92e3d107-ba22-4310-84df-a97d058c4cbe
ALCON,
What is the best website(s) to find new added crypto tokens? I already have CoinGecko and CoinMarketCap.
Thanks in advance.
Looking great here
Bitcoin huge surge worldwide bodes well for MARA.
SEC S-3 > Shelf placement > Marathon Digital (NASDAQ:MARA) filed a $750M mixed shelf registration in which it may sell common stock, preferred stock, warrants, units or a combination of those securities from time to time to raise capital to buy bitcoin mining servers.
The bitcoin mining company said it plans to use a "substantial portion" of the net proceed to purchase the servers. The rest would be used for general corporate purposes.
Marathon Digital (MARA) shares edge down 0.1% in after-hours trading.
Earlier this month, Marathon Digital (MARA) said it mined 462.1 bitcoins in January, down 5% from December. In December, it announced the purchase of 78,000 next generation Antminer S-19 XP Miners from Bitmain.
MARA
Just picked up Mar18 $31 call options. Looking for a nice bounce here as soon as BTC finds its traction again.
Too early to tell but i think gap on monday , btc gonna break 45k this wkend imo
Huge inflation spike news out! Hottest since 1982. Sends bitcoin & Dow down.
Works for me. May see a slight pull back on Friday if BTC drops, but overall, this baby looks great from here
29... tomorrow 30+
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