Analysts at investment firm Compass Point repeat the “neutral” ratings for Marathon Digital on Wednesday, claiming that focusing on preparing for the next half of Bitcoin depends on unproven strategies that may be difficult for investors to assess immediately.
The Miami-based company on Tuesday Disclosure It jumped $238 million in second quarter revenue, a 64% jump from a year ago. Net income rose 505% to a record $808 million due to an increase of $1.2 billion in fair value for Marathon Bitcoin Holdings.
Compass Point analysts noted that most Bitcoin miners focus on high-performance computing opportunities, with most Bitcoin miners prioritizing space as a form of revenue diversification, as Bitcoin’s rising hashrate eats up the profitability of miners.
Some miners use their existing infrastructure to lease space to electricity-hungry businesses. However, analysts argued that the marathon approach, which co-develops AI-specific platforms with specific energy companies, “covers the fundamental profitability while accumulating expansion (operational and research and development costs).”
Marathon stocks rose 3% to $17.11 on Wednesday. Yahoo Finance. The company’s stock has risen 2% since the start of the year, with Compass analysts hanging pencils at a price target of $18.
The company, which operates 15 mining sites in four countries, owns 50,000 Bitcoins worth $5.9 billion based on current prices. The marathon is upside down as a “Quasi-BTC Treasury Company,” but without HPC, it could put pressure on the stock by reducing momentum, analysts said.
in Shareholder letter, said the marathon has secured a partnership between TAE Power Solutions and LG-backed Pado AI. The companies specialize in highly efficient energy systems and will help build AI’s “field-deployable” infrastructure, Marathon said.Marathon said that corporate-level partnerships that can monetize “otherwise underutilized or thread-like electronics” are one of the company’s top priorities, but efforts to diversify revenues by tapping international markets remain North Star.
“Everyone else is focused on HPC and the marathon is like a world of its own,” Compass analyst Engel said. Decryption. “That’s not what other people do.”
The next half of Bitcoin in 2028 will reduce the per block reward miners earn from verifying transactions from 3.125 BTC to 1.56 BTC. The pre-programmed event held last year was Identity Crisis For some Bitcoin miners.
The marathon aims to generate more than 50% of external = non-US revenue, and hopes that it will include “a structured joint venture with sovereign power entities,” the marathon said.
“We believe in a large pocket of energy that is not used around the world, especially in the world. Regions with excessive renewable or chain capacity provide unique opportunities to expand their operations in a capital-efficient way.”
President Donald Trump has Called Some conservatives overseas are warming up to the industry for more Bitcoin mining in American soil.
In March, Marine Le Pen, a far-right figure in France, assured support to ensure that Bitcoin was mined using excess electricity generated by nuclear facilities throughout the region. world.
