FORT LAUDERDALE, FL—Frederick G. Thiel, the Chief Executive Officer of MARA Holdings, Inc. (NASDAQ:MARA), recently sold a significant portion of his holdings in the company. According to InvestingPro data, MARA has demonstrated strong momentum with impressive returns over the past three months, despite showing high price volatility. According to a filing with the Securities and Exchange Commission, Thiel sold 27,505 shares of common stock on December 16, 2024. The shares were sold at a price of $23.50 each, amounting to a total transaction value of approximately $646,367.
Following the sale, Thiel retains ownership of 4,128,090 shares in the company. This transaction was conducted under a pre-established Rule 10b5-1 trading plan, which Thiel adopted on June 18, 2024.
In other recent news, Marathon Digital (NASDAQ:) Holdings has seen substantial attention from analyst firms. Piper Sandler initiated coverage on Marathon Digital with an Overweight rating and a price target of $34.00, citing the company’s significant mining capacity and substantial corporate bitcoin treasury. JPMorgan also adjusted its stance, upgrading its rating from Underweight to Neutral, recognizing Marathon Digital’s substantial expansion in self-mining capacity.
Similarly, Barclays (LON:) initiated coverage on Marathon Digital with an Equal Weight rating, highlighting the company’s significant exahash rate and strategic shift towards owning more mining facilities. Compass Point also adjusted its stance on Marathon Digital, shifting from a Buy to a Neutral rating, while increasing the price target to $25.00.
Marathon Digital has also seen significant financial developments. The company closed an $850 million private offering of convertible senior notes, with net proceeds of approximately $835.1 million planned for various corporate purposes. The company also reported quarterly revenues of $132 million and a ProForma Adjusted EBITDA loss of $9 million.
Furthermore, Marathon Digital has been expanding its operations, recently adding approximately 372MW across three sites in Ohio. These are the latest developments for Marathon Digital.
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