Marathon Digital: Overpaying For A Mining Business That Overpays For Bitcoin (NASDAQ:MARA)

Marathon Digital Holdings (MARA) is unlikely to outperform Bitcoin or Grayscale Bitcoin Trust (GBTC) due to its negative value as a mining business and its stock trading at a large premium to its net asset value (NAV). MARA consistently fails to mine Bitcoin at a cost below its market price, resulting in negative profits from mining operations. Additionally, the stock is trading at a 158% premium to NAV, making it an unfavorable investment compared to BTC or GBTC.

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8/25/2023

Blockchain Tech and AI Will Have ‘Very Tight Coupling’: Marathon Digital CEO - Decrypt

Bitcoin mining company Marathon Digital Holdings is investing in the AI sector and aims to build applications on the Bitcoin blockchain, citing the blockchain's decentralized nature and resistance to censorship as ideal for storing data, according to CEO Fred Thiel, who also noted the tight coupling between blockchain and AI technologies. Marathon has recently expanded its mining operations to Abu Dhabi and plans to diversify further into international markets, particularly in Africa, Latin America, and Asia. The company is also increasing its Bitcoin holdings and intends to sell a portion of its holdings to support operations while continuing to add to its balance sheet.

8/30/2023

GBTC Bitcoin ‘discount’ may be gone by 2024 as share price gains 17%

The Grayscale Bitcoin Trust (GBTC) may eliminate its BTC price discount by 2024, as a court victory and potential conversion to a Bitcoin spot price exchange-traded fund could restore the GBTC premium. Additionally, Bitcoin's price is testing crucial support levels, including the 200-week and 200-day moving averages, which could influence its future direction.

9/8/2023

Grayscale Court Victory Boosts Confidence in Imminent Bitcoin Spot ETF Approval

Grayscale Bitcoin Trust (GBTC) has seen positive market trends and narrowing discounts to net asset value after a recent court victory, indicating a potential shift towards becoming a spot Bitcoin exchange-traded fund (ETF), according to Ark Invest.