MARA Surges 1.69% After Clear Street Reiterates Hold Rating and $10 Price Target

MARATHON HOLDINGS INC (NASDAQ:MARA) shares have surged higher on Friday morning, following a meeting between Clear Street and Marathon's Chief Financial Officer. The company's power capacity remains a key driver of its thesis.

Clear Street analyst Brian Dobson said the firm continues to view Marathon as a 'power owner first', with approximately 1.4 gigawatts currently operating, 1.9 gigawatts in total current capacity, and up to 4.8 gigawatts pending approvals.

Build costs for the company appear to be at or above $12 million per megawatt, and the Electric Reliability Council of Texas' batch study process is pushing some energization into 2028.