2024-04-15 09:30:00 ET
Summary
- Marathon Digital's stock has underperformed Bitcoin. MARA stock increased by 44.5% compared to 166.7% for BTC-USD.
- In 2023, Net Income hit a record $261.2 million, but most of it was due to one-time gains.
- In my opinion, the company is swimming upstream, as its efficiency gains need to overcome both the Bitcoin halving every four years as well as the nature of Bitcoin.
- There is a risk that Marathon Digital could have a dilution event, given that they essentially have to double their hash rate through capital expenditures.
Read the full article on Seeking Alpha
For further details see:
Marathon Digital: It Is Now Better Than Ever To Just Own Bitcoin Instead