What's Going On With MARA Stock Thursday?

MARA Holdings, Inc. MARA shares are moving higher on Thursday after the company reported better-than-expected 2024 fiscal-year fourth-quarter earnings on Wednesday after the market closed.

What To Know: The company reported adjusted earnings per share of $1.24, beating analysts’ estimate of 68 cents. In addition, it reported sales of $214.40 million, beating analysts’ estimate of $186.39 million, and representing a 37% year-over-year increase.

Furthermore, MARA announced it mined 2,492 Bitcoin BTC/USD and purchased 15,574 Bitcoin throughout the fourth-quarter. As of the end of the quarter, the company held 44,893 Bitcoin, of which 10,374 were loaned or used as collateral.

MARA reported its direct energy cost per Bitcoin was $28,801. The company also stated its energized EH/s increased 115% to 53.2 EH/s.

Additionally, CEO of MARA Fred Thiel committed to mining blocks domestically during the company’s fourth-quarter earnings call. Thiel reasoned that, “We believe it's a strategic importance to the U. S., not just having a strategic reserve of Bitcoin but also having a predominant amount of block space such that the U. S. can project power and defend the Bitcoin blockchain.”

Analyst Changes: Following the earnings report, multiple analysts issued price target adjustments.

• Needham analyst John Todaro reiterated a Hold rating on MARA.
• HC Wainwright & Co. analyst Kevin Dede reiterated a Buy rating on MARA and maintained a $28 price target.

Related Link: Q4 GDP Holds At 2.3% After Minor Revision In Second Estimate

MARA Price Action: At the time of writing, MARA stock is trading 9.84% higher at $13.64, according to data from Benzinga Pro.

Image: via MARA Holdings, Inc.