Mara Reverses Course with $466 Million Loss as Bitcoin Surges
MARA Holdings, Inc.'s stock surged 22.4% during the week, nearly matching Bitcoin's 24.4% increase. However, on Friday, MARA reversed course and saw a $466 million loss.
The company's shares fell from $12.465 to $11.26, wiping out roughly $466 million in intraday market capitalisation. High trading volumes indicate notable profit-taking rather than a gradual decline.
MARA is the top-performing listed miner and its focus on energy and AI provides upside potential. The company's market value rose by approximately $796 million over the week, fueled by Bitcoin's rally.