Stock Groups

Marathon Digital ‘Well-Positioned,’ Says BTIG Analyst -Breaking

by Mike Robinson

[ad_1]

© Reuters.

Sam Boughedda

Investing.com — Greg Lewis from BTIG initiated coverage for Marathon Digital Holdings Inc. on Tuesday with a $50 price target and a buy rating. The analyst stated that Marathon Digital Holdings Inc. was “well-positioned” within the mining industry.

Share prices of the miner are down by more than 4.5% since Tuesday due to Bitcoin’s recent decline, which has fallen again today.

Lewis stated that the company was an innovator in Bitcoin mining and the company’s hash power of 3.5 EH/s is 1.9%. This makes them one of the most publicly traded BTC miners.

The analyst explained, “In what is expected to be an ongoing multi-year arms race of global miners to capacity, MARA currently holds 19.8 EH/s (on order) and scheduled deliveries through Ye22. Which should continue to position MARA to remain a global BTC mining leader.”

MARA can also be an anchor customer in a data centre, and not just renter. We believe MARA will continue to benefit from the BTC mining boom.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses caused by the data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]