The recent advancement in the cryptocurrency sector has led to an upward trend in stock value for MARA Holdings Inc. (NASDAQ:MARA). The stock surged by 2.89% in the regular trading hours, followed by a 2.61% after-hours gain on Thursday, as investors responded to growing optimism around the company’s strategic development in the Bitcoin mining space.
What Happened: MARA Holdings’ stock price closed at $18.99 on Thursday, showing a 2.89% increase. An additional increase of 2.61%, to $19.49 was seen after hours. This surge can be linked to the company’s recent strides in the cryptocurrency industry, particularly in Bitcoin mining. The company’s stock has been on a steady rise, reflecting the overall positive performance of the cryptocurrency market.
On Thursday, MARA Holdings’ stock price was among the top gainers in the Bitcoin mining sector, along with CleanSpark Inc. (NASDAQ:CLSK) and Riot Blockchain Inc. (NASDAQ:RIOT). This rise was part of a broader rally in crypto-related equities as Bitcoin (CRYPTO: BTC) continued to climb to record levels. On Thursday, the apex cryptocurrency crossed the $116,000 mark as investors shrugged off tariff concerns.
Why It Matters: MARA Holdings’ recent success in the cryptocurrency market can be attributed to its ambitious plans for the future. The company aims to achieve a 40% increase in its hashrate by the end of 2025, targeting 75 exahashes. This goal, announced in early July, has been a driving force behind the company’s recent stock performance.
Prior to this, MARA Holdings had also made headlines for its collaboration with TAE Power Solutions to develop a real-time responsive load management system to meet the energy demand of data centers and cryptocurrency mining operations. This partnership, announced in late June, further solidified MARA Holdings’ position in the cryptocurrency industry.
Despite the recent success, MARA Holdings’ stock has seen some bearish activity, with high-rolling investors positioning themselves bearish on the company. However, this has not hindered the company’s overall positive performance in the cryptocurrency market.
Price Action: MARA surged 2.89% during regular trading and jumped another 2.61% after hours on Thursday, according to Benzinga Pro data.
Benzinga Edge Stock Rankings shows MARA Holdings has positive trends across all time frames. Here’s how it fares on other key metrics.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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