MARA has entered into a strategic partnership with TAE Power Solutions to create a cutting-edge, high-frequency load management system. This system will be capable of being scaled modularly to gigawatt levels, addressing the energy needs of large-scale data centers, digital asset computing, and other power-hungry industrial applications.
High-performance computing environments demand highly responsive energy resources due to their unpredictable fluctuations, which can change in mere microseconds. Such rapid variations can place significant stress on both data center equipment and local power grids. To counter these challenges, MARA will utilize TAE Power Solutions’ advanced power management technology to implement a 10 megawatt clean energy storage network. This system promises revolutionary microsecond-level responsive load balancing and control.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 12 analysts, the average target price for MARA Holdings Inc (MARA, Financial) is $20.13 with a high estimate of $33.00 and a low estimate of $9.50. The average target implies an upside of 35.25% from the current price of $14.88. More detailed estimate data can be found on the MARA Holdings Inc (MARA) Forecast page.
Based on the consensus recommendation from 14 brokerage firms, MARA Holdings Inc's (MARA, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for MARA Holdings Inc (MARA, Financial) in one year is $23.25, suggesting a upside of 56.25% from the current price of $14.88. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the MARA Holdings Inc (MARA) Summary page.
MARA Key Business Developments
Release Date: May 08, 2025
- Revenue: Increased 30% to $213.9 million from $165.2 million in Q1 2024.
- Net Loss: Reported a net loss of $533.4 million or negative $1.55 per diluted share, compared to a net income of $337.2 million or $1.26 per diluted share in Q1 2024.
- Adjusted EBITDA: Decreased to a loss of $483.6 million from $542.1 million in Q1 2024.
- Bitcoin Holdings: Over 48,000 Bitcoin held on the balance sheet.
- Bitcoin Price Impact: Unrealized fair market value loss of $510.2 million due to a 12% lower Bitcoin price as of March 31, 2025, compared to December 31, 2024.
- Purchase Energy Cost per Bitcoin: $35,728 per coin and $0.04 per kilowatt hour.
- Cost of Revenue per Petahash per Day: Declined 10% sequentially, excluding depreciation.
- Energized Hash Rate: Increased 95% to 54.3 exahash per second from 27.8 exahash per second in Q1 2024.
- Operational Capacity: Transformed from 0% owned and operated capacity to approximately 70% since the beginning of 2024.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- MARA Holdings Inc (MARA, Financial) delivered strong operational metrics in Q1, with a 25% year-over-year improvement in daily cost per petahash.
- The company completed construction of a fully owned 200-megawatt data center in Ohio, with 100 megawatts now online.
- MARA is transforming into a vertically integrated digital energy and infrastructure company, focusing on long-term, low-cost energy solutions.
- The company is investing in digital energy technologies and has begun manufacturing custom miners, providing unique cost and performance advantages.
- MARA's strategic growth includes discussions with governments and global energy corporations to achieve lower energy costs and greater CapEx efficiency.
Negative Points
- MARA reported a net loss of $533.4 million in Q1 2025, compared to a net income of $337.2 million in the first quarter of the previous year.
- The average price of Bitcoin declined significantly in Q1, impacting MARA's production and resulting in an unrealized fair market value loss of $510.2 million.
- Despite operational improvements, MARA's stock price is down 15% year-to-date, reflecting a disconnect between market sentiment and company fundamentals.
- The company faces challenges from rising global hash rates and increased network difficulty, which have impacted Bitcoin production.
- MARA's adjusted EBITDA decreased to a loss of $483.6 million in Q1 2025 from $542.1 million in Q1 of 2024.
