MARA Holdings, Inc. (NASDAQ: MARA) shares climbed sharply Wednesday, mirroring gains across crypto-linked stocks as Bitcoin (BTC/USD) prices surged. Here’s a breakdown of the key drivers behind the rally.
Why MARA Holdings Stock Is Rising
Bitcoin’s Price Momentum
- Bitcoin traded 3.65% higher at ~$109,500 (24-hour period), per Benzinga Pro data.
- Technical indicators show strong upside momentum after bouncing off support levels.
On-chain activity:
- Large transaction volume ↑ 22.7%.
- Daily active addresses ↑ 5.4%.
👉 Track real-time Bitcoin price trends
MARA’s Bitcoin Holdings
- MARA held 49,940 Bitcoin as of June 30.
- Rising BTC prices directly boost the value of its reserves.
June Production Update
Despite weather-related challenges, MARA Holdings reported:
- Bitcoin mined: 713 (↓25% from May).
- Blocks won: 211 (↓25% MoM).
- Hashrate: 57.4 EH/s (energized), targeting 75 EH/s by year-end (+40% growth).
CEO Fred Thiel: “Our expansion aligns with low-cost power and efficient capital deployment.”
Stock Performance
- MARA share price: ↑ 12.5% to $17.72 (Wednesday trading).
FAQs
What drives MARA Holdings’ stock price?
MARA’s valuation is closely tied to Bitcoin’s price and mining efficiency. Rising BTC prices increase the value of its holdings, while hashrate growth signals operational scalability.
How did weather impact MARA’s June production?
Temporary curtailments and machine redeployments (storm damage repairs) slowed output. The company expects recovery as infrastructure stabilizes.
What’s MARA’s long-term hashrate target?
75 EH/s by 2025, supported by pre-ordered mining hardware and optimized power strategies.
👉 Explore crypto investment strategies
Data sourced via Benzinga Pro.