Marathon Digital Holdings, Inc.

Marathon Digital Holdings, Inc. (NASDAQ: MARA) is a company that mines digital assets. It owns cryptocurrency mining devices, and a data center mined digital assets. It operates in the Digital Currency Blockchain segment, with crypto-currency machines in Canada.

Key Highlights:

• The company reported a 60.91x increase in total revenues to USD 51.71 million in Q3FY21 (ended September 30, 2021) compared to USD 0.84 million in Q3FY20, due to the deployment of approximately 22,652 miners.
• In recent quarters, the company's gross margin has grown. The gross margin in the Q3FY21 was the highest in the preceding five quarters. In Q3FY21, its gross margin was 80.20%, higher than the industry median of 77.50%.
• On January 03, 2022, MARA announced that it created roughly 3,197 self-mined bitcoin in FY21. Total bitcoin holding had increased to around 8,133 BTC with a fair market value of approximately USD 375.8 million.
• At the daily price chart, MARA stock price is trading near the lower range of its 20-days Bollinger band, indicating a possible pullback on the higher side.
• The RSI is at 35.68, approaching the oversold zone on the daily chart.

Technical Price Chart (as of January 14, 2022). Analysis by Kalkine

Conclusion: Based on the solid growth in top-line performance, improved margins, and technical indicators, we recommend a "Watch" rating on the stock at the closing price of USD 28.59, up 1.74% as of January 14, 2022.

*The reference data in this report has been partly sourced from REFINITIV.