MARA Dips After Q1 Earnings Miss — But AI Pivot Accelerates with $1.5B Long Ridge Deal
MARA missed earnings as losses grew, but mining hit records, and it’s shifting into AI and data centers for future growth with its $1.5B Long Ridge acquisition.
MARA missed earnings as losses grew, but mining hit records, and it’s shifting into AI and data centers for future growth with its $1.5B Long Ridge acquisition.
MARA buys Ohio power plant campus for $1.5B to expand AI/data centers, boosting power capacity and future growth.
MARA sold 15,133 Bitcoin for $1.1 billion to repurchase $1 billion in convertible notes at a 9% discount, saving $88 million and reducing its debt.
Ethereum climbs above $2,300 as BitMine adds $139.7M in tokens, ending mini-crypto winter per Tom Lee. ETF inflows return amid strong rally.
Bitcoin mining profits have tanked with BTC down ~50% from its 2025 peak. Miners like Core Scientific are selling holdings and shifting to AI to stay alive in tough times.
Morgan Stanley gives Mara Holdings (MARA) an Underweight rating and $8 target, citing bitcoin mining economics and limited upside from data center transitions.