Jay P. Leupp, a director at MARA Holdings, Inc. (NASDAQ:MARA), has recently sold a portion of his common stock in the company. According to a filing with the Securities and Exchange Commission, Leupp sold 6,800 shares on November 29, 2024, at a price of $29.90 per share. The total value of the transaction was approximately $203,320. The sale comes amid MARA's impressive 87% stock return over the past year, with the company currently valued at $8.07 billion. InvestingPro analysis indicates the stock is trading near its Fair Value, with a GOOD overall financial health score. Following this sale, Leupp holds 135,756 shares directly. The transaction was carried out under a pre-arranged trading plan established on June 5, 2024, under Rule 10b5-1. With MARA's stock showing significant volatility and a strong 30.9% return over the past six months, InvestingPro subscribers can access 18 additional expert insights and comprehensive insider trading analysis in the Pro Research Report.
In other recent news, Marathon Digital (NASDAQ:MARA) Holdings reported a mixed bag of financial results, with quarterly revenues of $132 million and a ProForma Adjusted EBITDA loss of $9 million, falling short of expectations. The company has been expanding its operations, recently adding approximately 372MW across three sites in Ohio. Analysts from Compass Point and Barclays (LON:BARC) have adjusted their stance on the company, shifting from a Buy to a Neutral rating, and initiating an Equal Weight rating respectively.
In terms of financial developments, Marathon Digital successfully closed a $1 billion senior convertible notes offering, reflecting strong institutional interest in Bitcoin exposure. Compass Point forecasts that Marathon Digital will utilize approximately $480 million to acquire 5,000 Bitcoin, aiming to end the year with around 34,000 Bitcoin on its balance sheet.
In strategic moves, the company acquired two data centers in Ohio and integrated two-phase immersion cooling tanks into its mining operations. This diversification and strategic growth have been recognized by analyst firms such as B.Riley, Cantor Fitzgerald, and H.C. Wainwright, adjusting their price targets accordingly. These are some of the latest developments for Marathon Digital Holdings.
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