Bitcoin pushes above $92,000 as stocks tied to crypto, AI mining, and metals rally in pre market trading.
Diversification into AI and HPC infrastructure drove sharp outperformance for miners, while pure-play bitcoin miners lagged.
VanEck’s Matthew Sigel argues MARA’s valuation looks expensive when adjusted for its leverage and capital structure.
MPLX will supply natural gas from its Delaware Basin processing plants to MARA’s planned gas-fired power facilities.
Arkham data shows bitcoin miner Marathon bought 150 BTC through its custodian Anchorage Digital as prices plunged, with fresh FalconX inflows hinting at continued institutional accumulation.
Alongside, JPMorgan downgraded IREN and CleanSpark
U.S.-listed mining companies accounted for 26% of the Bitcoin network last month, unchanged from July, the report said.
MARA also expanded its BTC allocation to 2,000 BTC, a sign of growing institutional demand for active digital-asset management.
Strategic integration, proprietary mining pool, and rising hashrate fuel MARA’s standout May performance amid industry-wide difficulty spike.
MARA Holdings climbed on completing an $850 million offering of a zero-coupon convertible senior note.
MARA holdings announced a $700 million convertible senior note due 2030, plans to acquire more bitcoin.
The new raise is part of Marathon’s strategy to go “full hodl” and make Bitcoin a strategic reserve asset for the company.
Bitcoin miner selling could last for four to six months after the halving, amounting to as much as $5 billion worth, according to an analyst.