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It seems like with the growing volatility in Bitcoin prices, and several publicly listed companies now aim to boost their BTC holdings; in a most recent development, Marathon Digital Holdings filed Form 8- K with the U.S SEC, which says that it is collaborating with some known investment firm to sell shares and raise money for BTC buying.
The yet-to-be-raised funds will be used for general corporate purposes, but Bitcoin acquisition remains one of the primary motives for gathering funding by selling shares.
There are claims that the sale of shares will be done on Nasdaq or through a negotiated transaction, and this sale of shares will help Mara regain its lost momentum.
Has Mara’s stock been profitable since the beginning of 2024?
According to the data from TradingView, MARA stock is currently exchanging hands at $12.47, with an addition of 1.71% in a week and a surge of 1.75% in a month.
However, the prices are quite bearish in other frames, as in the past 1 quarter, Mara’s stock price fell around 35.72%, it lost 31% in the past 6 months, and since the beginning of the year, it fell 28.92%.
Market watchers say the bullishness in the Mara stock in the past few weeks is because of the earnings release of Q4, 2024. In the earnings and revenue report, Marathon succeeded in beating the estimated EPS of -$0.13 and the estimated revenue of $187.77 million.
For Q1 2025, the estimated revenue of Marathon Digital is $223.77 million, and the annual price target of Mara stock is $22.54.
As per trends and charts, the prices of Mara stock continue to fall; it might soon face the nearest support of $12.37 and following support of $10.89, and in case of bull dominance, its resistance is $17.14, followed by second resistance of $18.62.
Institutional Bitcoin buying at the peak
Over the past few years, a significant involvement of publicly listed companies and institutional investors has been seen in Bitcoin and crypto, with some of them holding substantial amounts of BTCs.
In terms of the highest Bitcoin holding, Strategy (earlier MicroStrategy) holds 506,317 BTC, followed by Marathon Digital, which holds 46,374 BTC, and Riot Platform Inc., which has 18,692 BTC.
It is worth noting that Metaplanet, a company based in Japan, has continued to boost its Bitcoin holdings; currently, it holds 3,350 BTC. The company’s stock price has registered tremendous growth after it followed the BTC acquisition Strategy.
The popularity, adoption, and dominance of Bitcoin have continued to grow, and at press time, it was dominating at 62.38%, up by 7.23% in the year-to-date time frame.
