CLSK - Marathon Digital: The Top Miner For Efficiency Growth And Bitcoin's Next Rally
2024-07-05 08:30:00 ET
Summary
- Marathon’s mining efficiency in terms of its revenues per exahash is better than its main competitors, Riot and CleanSpark.
- Record low hashprices could decrease mining difficulty by 5%, which could help Marathon increase its Bitcoin production.
- Marathon’s new venture in mining Kaspa could generate more than $87 million in revenues at high margins up to 95%.
- Marathon’s and Bitcoin’s price movement could signal a strong rally in the near term.
- I’m reiterating my buy rating for Marathon.
The month of June hasn’t been kind to Bitcoin ( BTC-USD ) as the world’s largest cryptocurrency is down nearly 16% since the beginning of June, dropping below the $59 thousand mark in the process. Despite that, the largest public Bitcoin miner Marathon Digital Holdings, Inc. ( MARA ) has remained steady over the same period with its stock up 2% since the beginning of June....
Marathon Digital: The Top Miner For Efficiency, Growth, And Bitcoin's Next Rally