Analyst Gregory Lewis of BTIG maintained a Buy rating on MARA Holdings, retaining the price target of $27.00.
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Gregory Lewis has given his Buy rating due to a combination of factors that highlight MARA Holdings’ strong position in the Bitcoin mining industry. MARA currently leads in Bitcoin mining capacity among publicly listed companies, with a significant expansion plan to increase its capacity by year-end, which would allow it to control a substantial portion of the global hash rate. This aggressive growth strategy sets MARA apart from its peers who are pausing capacity growth.
Additionally, MARA’s strategy to maintain and grow its Bitcoin inventory has resulted in it becoming the second-largest Bitcoin holder among US public companies. The company’s focus on leveraging its power expertise for future growth in AI data centers, particularly in the US and Middle East, further positions it to capitalize on emerging opportunities. With a solid financial foundation, including ample liquidity and a strategic approach to power infrastructure ownership, MARA is well-positioned for long-term success in the evolving Bitcoin ecosystem.