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MARA Holdings, Inc. (MARA)

Valor Justo
Financial ServicesCapital MarketsUnited States

Fundamental

28

Preço

$11.33

Capitalização de Mercado

$4.38B

Parte 1 · Quanto vale a empresa

Visão Geral

MARA Holdings, Inc. operates as an energy and digital infrastructure company in North America, the Middle East, Europe, and Latin America. The company leverages Bitcoin Mining and Artificial Intelligence compute to monetize excess energy and underutilized power, optimize power management across operations and support AI inference applications. The company was formerly known as Marathon Digital Holdings, Inc. and changed its name to MARA Holdings, Inc. in August 2024. MARA Holdings, Inc. was incorporated in 2010 and is based in Hallandale Beach, Florida.

No editorial profile for this company yet

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 19 de setembro de 2026 with claude-haiku-4-5 — shared with all users

P/E: —Score: 45Market cap: $7.56B

Riot is the other large US-listed self-miner competing for the same bitcoin block rewards, the same low-cost power contracts in Texas and the same data-center sites now being converted to AI hosting.

P/E: 11.5Score: 50Market cap: $3.31B

CleanSpark runs a comparable fleet of US mining sites and competes directly for network hashrate share, for cheap grid power and for the same machine supply from ASIC manufacturers.

P/E: —Score: 37Market cap: $2.39B

Bitdeer is the largest listed miner by operating hashrate and mines the same bitcoin block rewards from sites in Norway, Bhutan and the United States, while also selling the mining rigs MARA buys.

P/E: —Score: 44Market cap: $14.61B

IREN competes on both of MARA's fronts: bitcoin self-mining at scale and the conversion of owned, power-rich data centers into AI and high-performance computing capacity sold to cloud customers.

Cipher Mining Inc.CIFR

Cipher builds and operates US mining data centers chasing the same block rewards, and bids for the same grid interconnection capacity and AI hosting contracts that MARA is pursuing.

Balanço & Liquidez

Receita

$60M

Últimos 12 meses (até 30/06/2026)

Resultado Líquido

$-3.46B

Últimos 12 meses (até 30/06/2026)

Fluxo de Caixa Livre

$-1.21B

Capital Próprio Total

$3.47B

Passivo Total

$3.81B

Rácio de Liquidez

0.89

Cobertura de Juros

69.16

Dívida/EBITDA

-

Resultados Por Ação

Receita & Resultado Líquido

Fluxo de Caixa Livre

Decomposição dos Resultados

Demonstração histórica

Margens ao longo do tempo

A dívida ao longo do tempo

Quanto pesa a dívida

Grelha do crescimento

Crescimento — Receitas

Estimativa de Valor Justo

Caso geralJustamente Valorizada

Valor Justo

$10.48

Preço Atual

$11.33

Margem de Segurança

-8.1%

Intervalo de Valor Justo

$6.81 - $14.15

Dispersão entre os métodos de avaliação utilizados, não um intervalo de confiança calibrado estatisticamente.

Métodos de Estimativa

Preço-alvo dos analistas:$18.69
Fluxo de caixa descontado (DCF):$0.22
Multiplicador de lucros (P/E):Dados insuficientes para o calcular
Fórmula de crescimento de Graham:Dados insuficientes para o calcular
Valor da capacidade de gerar lucro (EPV):Dados insuficientes para o calcular
P/B justificado:Dados insuficientes para o calcular
Desconto de dividendos (Gordon):Dados insuficientes para o calcular
P/FFO, fundos de operações:Dados insuficientes para o calcular
Lucros de meio de ciclo:Dados insuficientes para o calcular
Multiplicador sobre as receitas:$5.52
Consenso dos Analistas:Comprar (14B / 7H / 1S)
Última Surpresa de Resultados:-916.01%

Métricas de Avaliação

Rácio P/E

-

ROE

-37.8%

Rácio P/B

2.64

P/FCF

-

Margem Bruta

-

ROIC

-61.9%

Radar de Rentabilidade

Criação de Valor (Vantagem Competitiva)

ROIC

-61.9%

WACC

11.9%

ROIC − WACC

-73.8 pp

O ROIC está abaixo do custo do capital — a empresa está a destruir valor a cada dólar investido.

Critérios de Análise Fundamental

Aprovado (7)

  • P/B Ratio 2.64
  • Debt/Equity ratio
  • Current Ratio
  • Interest Coverage
  • Low reliance on intangibles
  • Revenue Growth 5Y 190.3%
  • Analyst Consensus 64% Buy

Reprovado (12)

  • EPS shows upward trend
  • Price CAGR -6.98%
  • ROIC -61.9%
  • Operating Margin -4911.3%
  • Positive Free Cash Flow
  • Return on Tangible Assets
  • DCF valuation (Overvalued)
  • ROE -110.4%
  • Earnings Surprise avg -1106.0%
  • Share Dilution 12.9%
  • Net Margin Trend -5769.0% vs 1162.5%
  • Piotroski F-Score 1/9

Indisponível (8)

  • Gross Margin NaN%
  • P/FCF NaN
  • Dividend Payout NaN%
  • CapEx intensity
  • Debt/EBITDA
  • Price below Graham Number
  • PEG Ratio (need PE > 0 and growth > 0)
  • Earnings Quality (OCF/Net Income)

Piotroski F-Score

1/9

Preocupações financeiras graves

score
criteria

Qualidade dos Resultados

-

Baixa qualidade: investigar a contabilidade

Diluição de Ações

12.9%

A emitir novas ações, diluindo a participação

Participações institucionais

Governação

Equipa Executiva

NomeCargoIdade
Mr. Frederick G. ThielCEO & Executive Chairman64
Mr. Salman H. KhanChief Financial Officer46
Mr. Zabi NowaidGeneral Counsel & Company Secretary43
Mr. James G. CrawfordChief Operating Officer50
Mr. John B. EllisChief Accounting Officer57
Mr. Robert SamuelsVice President of Investor Relations-
Ms. Summer AndersonChief People Officer-
Mr. Nir RikovitchChief Product Officer-
Mr. Daren D. ManciniChief Commercial Officer-
Mr. Duncan DickersonChief Growth & Strategy Officer-

Risco de Auditoria

8

Risco do Conselho

7

Risco de Remuneração

10

Risco dos Direitos dos Acionistas

4

Parte 2 · O preço e o momento de entrar

Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.

Documentos

  • Relatório anual (10-K)

    Uma visão anual do negócio, dos resultados financeiros e dos riscos da empresa.

    Arquivado em 2026-03-02

    Ver documento
  • Relatório trimestral (10-Q)

    Uma atualização sobre o desempenho financeiro dos últimos três meses.

    Arquivado em 2026-08-06

    Ver documento
  • Relatório de fato relevante (8-K)

    Um aviso sobre um fato relevante, como uma mudança na liderança ou um grande anúncio.

    Arquivado em 2026-09-25

    Ver documento

via SEC EDGAR

Histórico de Resultados

via SEC EDGAR

Latest News

Recent headlines for MARA, sourced from Markets Gazette.

  • 28d agoPOSITIVE
    Marathon Mines 670 Bitcoin In August As Treasury Reaches 25,000 BTC

    Marathon Digital Holdings mined 670 Bitcoin in August, bringing its total treasury to 25,000 BTC. This production rate represents a significant increase from previous months and demonstrates the company's operational efficiency in a challenging mining environment. The growing Bitcoin holdings provide a strong balance sheet and potential upside as the cryptocurrency's value appreciates. Investors will be watching Marathon's ability to maintain this production level and manage its operational costs effectively, as it positions itself as a leading player in the digital asset mining space.

  • 8/7/2026NEGATIVE
    MARA swings to Q2 loss as Bitcoin’s slump masks higher output

    Marathon Digital Holdings (MARA) reported a Q2 loss, a stark contrast to the previous year's profit. This downturn was primarily driven by a significant 28% decrease in the average selling price of Bitcoin, despite the company achieving its highest quarterly Bitcoin production in over a year. The increased production volume, while a positive operational metric, was insufficient to offset the sharp decline in Bitcoin's market value. Investors are likely to view this performance negatively, as it highlights the company's sensitivity to cryptocurrency price volatility.

  • 7/28/2026POSITIVE
    Galaxy, MARA Holdings deepen Texas expansion with land acquisitions

    Marathon Digital Holdings Inc. (MARA) and Galaxy Digital have announced separate land acquisitions in Texas, signaling a strategic expansion driven by escalating demand for power-intensive digital infrastructure, including AI. This move by MARA, a prominent Bitcoin miner, suggests a proactive approach to securing resources for future growth and operational scaling. The expansion aligns with the broader trend of increasing investment in data centers and energy-intensive computing, potentially positioning MARA favorably to capitalize on the evolving digital economy. Investors may view this expansion as a positive indicator of the company's long-term strategy and growth potential.

  • 7/9/2026POSITIVE
    MARA shares surge after 2 GW Texas infrastructure deal expands AI ambitions

    Marathon Digital Holdings Inc. (MARA) shares surged approximately 15% following the announcement of a strategic acquisition of a Texas site with up to 2 GW of power capacity. This move is designed to significantly expand the company's infrastructure for both Bitcoin mining and artificial intelligence (AI) operations. The substantial power capacity is a key enabler for energy-intensive digital asset activities. Investors are likely reacting positively to the company's ambitious expansion plans and diversification into AI, signaling potential for future growth and increased operational scale.

  • 7/6/2026POSITIVE
    Marathon Hash Rate Climbs To 31.5 EH/s As Miner Competition Tightens

    Marathon Digital Holdings Inc. has reported a significant increase in its self-mining hash rate, reaching 31.5 EH/s. This surge highlights the company's aggressive operational strategy and competitive positioning within the cryptocurrency mining sector, particularly in the post-halving environment. The rising hash rate indicates enhanced network participation and potentially greater Bitcoin production capacity. For investors, this development suggests Marathon's resilience and commitment to scaling operations, which could translate into improved future earnings and a stronger market presence.

  • 5/22/2026NEUTRAL
    Bitcoin miner MARA spent $4.3M on CEO security in 2025 as crypto attacks rise

    Marathon Digital Holdings Inc. (MARA) incurred $4.3 million in security expenses for CEO Fred Thiel during 2025. This expenditure comes amidst a global rise in cryptocurrency-related attacks, including 'wrench attacks'. While the spending highlights security concerns within the digital asset sector, it does not directly impact MARA's operational performance or future revenue potential. Investors should monitor the company's overall security posture and its effectiveness in mitigating risks in the volatile crypto landscape.

  • 5/14/2026NEGATIVE
    Bitcoin Miner MARA Stock Under Pressure Following $1.5 Billion Bitcoin Sell-Off

    MARA Holdings' stock experienced a significant downturn, dropping 5% during Tuesday's trading session and an additional 1.85% in after-hours trading. This decline followed the release of its first-quarter 2026 earnings, which revealed a net loss of $1.26 billion, more than double the previous year's loss. Revenue fell 18% to $175 million, impacted by lower Bitcoin prices. The company sold 20,880 BTC for nearly $1.5 billion, primarily to reduce convertible debt by $1 billion. MARA is also shifting away from aggressive Bitcoin mining, cutting 15% of its workforce and acquiring Long Ridge Energy for approximately $1.5 billion, a move that signals a strategic pivot towards AI and IT infrastructure.

  • 5/12/2026NEGATIVE
    MARA shares sink on first-quarter revenue miss, $1.3B loss

    Marathon Digital Holdings Inc. (MARA) experienced a significant share price decline following its first-quarter earnings report, which revealed a substantial $1.3 billion loss. While the company reiterated its commitment to Bitcoin mining as its core business, it also announced plans to diversify into the artificial intelligence (AI) sector. This dual strategy, coupled with the significant financial loss, has raised investor concerns about profitability and execution risk. The market's reaction suggests a lack of confidence in the company's immediate financial health and its ability to successfully pivot into new, capital-intensive ventures.

  • 4/30/2026POSITIVE
    MARA accelerates mining-to-AI pivot with $1.5B Ohio power plant deal

    Marathon Digital Holdings Inc. (MARA) has announced a significant strategic move, acquiring a 505-megawatt power plant and data center site in Ohio for an undisclosed sum, aiming to accelerate its pivot from Bitcoin mining to AI infrastructure. This expansion into AI computing power is expected to diversify revenue streams and leverage its existing energy infrastructure. The deal signals a proactive approach by MARA to capitalize on the burgeoning AI market, potentially unlocking new growth avenues beyond its core cryptocurrency operations. Investors are likely to view this as a positive development, reflecting adaptability and a forward-looking strategy.

  • 3/27/2026NEGATIVE
    MARA Sells $1B In Bitcoin At A Loss To Pay Down Debt As Hedge Fund CIO Warns: 'Just The Beginning'

    Marathon Digital Holdings Inc. (NASDAQ:MARA) has sold 15,133 Bitcoin, realizing a significant loss to service its debt obligations. This move comes amid warnings from a hedge fund CIO that such actions are 'just the beginning' for the crypto mining sector. The sale, executed at a loss, indicates potential financial distress or a strategic pivot to deleverage, which could negatively impact investor sentiment and the company's future growth prospects. The broader implications for the cryptocurrency market and other miners remain a key concern.

via Markets Gazette