MARA Holdings Stands Firm Amid Volatility with Ambitious Growth Plans

MARA Holdings has seen its stock decline by 48% since my last coverage, underperforming the benchmark's 14% gain. Despite this recent volatility and revenue headwinds from Bitcoin, I maintain a Strong Buy rating for MARA due to its ambitious growth plans.

Management aims to reach a 4.8 GW power portfolio by year-end, with the $1.5B Long Ridge acquisition potentially driving a new revenue cycle.

The company's execution has been inconsistent, but I believe multi-year tailwinds, scalability, and AI potential support a bullish long-term outlook for MARA.