MARA Holdings Inc. (NASDAQ:MARA) is one of the 10 Bitcoin Miners That Are Now Data Center Companies.
Citizens JMP initiated coverage of MARA Holdings Inc. (NASDAQ:MARA) with an Outperform rating and a price target of $24 on June 24
It cited favorable industry trends to support its positive outlook. According to the firm, MARA’s shift from bitcoin mining infrastructure to AI computing capacity will drive future growth. A day prior to this update, Bernstein analyst Gautam Chhugani reiterated a Hold rating on the stock along with the price target of $17.
As demand for AI continues to grow, MARA is shifting its focus from Bitcoin mining to energy-backed AI and HPC infrastructure. The company is aiming for faster monetization of connected power. Earlier on May 12, MARA Holdings Inc. (NASDAQ:MARA) acquired a 505-megawatt combined-cycle gas power plant with about $144 million annualized EBITDA.