MARA
Holdings, the publicly listed Bitcoin (BTC) miner from Wall Street (NASDAQ:
MARA), announced record financial results for the fourth quarter and full year
2024. Revenue, net income, and adjusted EBITDA significantly increased despite
April’s bitcoin halving event.
MARA Reports Record Q4 and
Full-Year Results,
The
cryptocurrency mining giant reported a 37% increase in Q4 revenue to $214.4
million and full-year revenue growth of 69% to $656.4 million. Net income
surged 248% to $528.3 million for the quarter, while adjusted EBITDA reached an
industry benchmark of $794.4 million, up 207% from the previous year.
“2024
was a transformative year for MARA. We accelerated our transition to a
vertically integrated energy and digital infrastructure company,” the
company wrote in the shareholder letter. “We now have greater control over
our energy, infrastructure, technology, and ultimately, our future.”
The Bitcoin
miner significantly expanded its energy capacity, securing approximately 1.2
gigawatts at prices 28% lower than industry peers paid for similar
acquisitions. This move increased MARA’s owned data center portfolio from 0% to
approximately 70% since the beginning of 2024.
The move
comes as smaller miners, including
Cipher Mining and Bitdeer Technologies, reported worse net results than in the
previous year. Cipher’s net loss deepened to $45 million from $26 million,
while Bitdeer’s net loss widened to $599.2 million from $56.7 million a year
earlier.
MARA’s Q4 2024 Shareholder Letter is here. Read the full report: https://t.co/w0iDVVZ3RV Chairman & CEO @fgthiel shares key insights on our record-breaking year and what’s next for MARA. pic.twitter.com/xmFZYcwcUX
— MARA (@MARAHoldings) February 26, 2025
MARA News: Bitcoin
Holdings Worth $4.6 Billion
MARA stock
has been closely watched by investors as the company deploys its first owned
power generating assets, now operating 136 MW of capacity. The company launched
a 25-megawatt micro data center initiative at wellheads in Texas and North
Dakota and acquired a wind farm in Texas with 240 MW of interconnection
capacity.
Analysts
following MARA news note the company’s bitcoin holdings increased 197% to
44,893 BTC, valued at approximately $4.6 billion at year-end. During Q4, MARA
mined 2,492 BTC and purchased an additional 15,574 BTC using proceeds from
convertible senior notes offerings.
“Our
HODL strategy and the opportunistic BTC purchases have benefited our
shareholders as they continue to see sustained yield when it comes to our BTC
holdings from a per share perspective,” MARA continued in the report.
The MARA
forecast for 2025 focuses on three key themes: Generate, Activate, and
Differentiate. The company aims to own and operate not just data center assets
but energy generation assets as well, potentially impacting MARA stock price
prediction 2025.
“By
owning energy assets, we optimize how power is consumed, stored, and
distributed. This allows us to activate new services for data centers, AI
operators, and energy markets,” the company further explained.
MARA Forecast: The Second
Wave of AI
Looking
ahead, MARA is positioning itself for the second wave of AI, focusing on
inference at the edge rather than training. The company believes this shift
presents significant opportunities for its infrastructure and energy management
capabilities.
“While
many of our competitors rushed into AI hosting and high-performance compute
build outs, betting on large, high-capex data centers, MARA took a strategic
pause, and for good reason,” the Wall Street Bitcoin miner noted.
“History has shown that the biggest opportunities often emerge in the
second wave.”
Certainly,
there’s plenty at stake. According to a VanEck report from last year, cryptocurrency
miners could unlock nearly $40 billion in additional revenue through AI.
The
company’s return on capital employed during the last 12-month period remains
top tier amongst competitors at 30.6%, highlighting MARA’s capital efficiency
in a capital-intensive industry.
MARA Stock News: It Hasn’t
Been This Bad Since November 2023
Although
the market has yet to show a clear reaction to MARA’s latest financial results,
the stock is currently trading near $12, its lowest level since November 2023.
This aligns with Bitcoin’s recent drop—testing multi-month lows—which is
pulling cryptocurrency mining stocks down significantly.
MARA’s
shares have plummeted by 60%, highlighting that, for most investors, publicly
traded miners remain primarily a proxy for Bitcoin exposure on Wall Street. As
a result, their share prices are closely tied to the performance of BTC.
MARA Stock Price
Prediction 2025
Analysts
from major financial institutions have provided 12-month price targets for MARA
stock, with forecasts extending into late 2025. The consensus average price
target as of early 2025 stands at approximately $26-27, derived from
evaluations by 13 analysts.
The
range spans a low of $20 to a high of $43, indicating varied expectations
depending on market conditions and company execution.
- B. Riley Securities: Analyst
Lucas Pipes raised the price target from $21.00 to $23.00, maintaining a
“Neutral” rating, suggesting a 71.90% upside from the
then-current price of - Piper Sandler: Set a $28.00 target with an
“Overweight” rating. - JP Morgan: Issued a $29.00 target with a
“Neutral” rating, balancing MARA’s robust 2024 performance
against volatility risks in the crypto market. - Cantor Fitzgerald: Analyst Brett Knoblauch
lifted the target to $42.00 from $33.00, retaining an
“Overweight” rating, one of the most bullish outlooks, driven by
MARA’s vertical integration and potential AI infrastructure expansion. - Macquarie: Raised its target to $29.00
from $22.00, signaling confidence in MARA’s energy cost management and
bitcoin accumulation strategy.
Another Wall Street
Bitcoin Miner Also Reported 2024 Results
Alongside
MARA Holdings’ Q4 and full-year 2024 results, Core Scientific (NASDAQ: CORZ), another
major player in the Bitcoin mining and digital infrastructure space, also
released its financial performance for the same period, reporting a net loss of
$265.5 million for Q4, largely due to a $224.7 million non-cash adjustment tied
to warrants and contingent liabilities, compared to a $195.7 million loss in Q4
2023.
The
Austin-based company, generated $94.9 million in revenue, driven by $79.9
million from self-mining 974 bitcoins at an average cash cost of $51,035 per
BTC, alongside contributions from hosted mining and high-performance computing
(HPC).
Adding to
its momentum, Core Scientific announced a $1.2 billion expansion of its Denton,
Texas data center with CoreWeave, boosting its AI and cloud computing capacity
and projecting $10.2 billion in revenue over a 12-year contract term, further
solidifying its growth trajectory in both crypto and HPC markets.
MARA Stock News, FAQ
What Is MARA’s 12-Month
Price Target?
The
12-month price target for MARA stock, as of early 2025, averages between $25.67
and $27.45, according to analyst consensus from platforms like MarketBeat and
TipRanks. This range is based on evaluations from 8 to 13 analysts, with
targets spanning a low of $20.00 (HC Wainwright) to a high of $43.00 (Cantor
Fitzgerald).
Is MARA a Buy, Sell, or
Hold?
Analyst
sentiment on MARA leans toward “Buy” or “Hold” as of February 2025. MarketBeat
reports a “Buy” consensus from 11 analysts, with no “Sell” ratings, driven by
MARA’s record $656.4 million revenue and $541 million net income in 2024. The
“Buy” case hinges on MARA’s bitcoin holdings and AI potential, though “Hold”
ratings caution against crypto volatility.
Will MARA Stock Go Back
Up?
Whether
MARA stock rises in 2025 depends on several factors, but analysts are
cautiously optimistic. After a 115% hashrate increase to 53.2 EH/s and Bitcoin
holdings growing to 44,893 BTC (valued at $4.6 billion), MARA’s fundamentals
are robust. Analysts like Cantor Fitzgerald ($42 target) see upside, though
short-term dips remain possible.
This article was written by Damian Chmiel at www.financemagnates.com.
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