Mara

$Mara(MARA.US) | Guggenheim 𝗿𝗲𝗶𝘁𝗲𝗿𝗮𝘁𝗲𝘀 𝗡𝗲𝘂𝘁𝗿𝗮𝗹 on 𝗠𝗔𝗥𝗔 𝗛𝗼𝗹𝗱𝗶𝗻𝗴𝘀

Analyst sees constructive powered land and non-dilutive funding, but flags an unproven AI leasing thesis and pending approvals.

$Mara(MARA.US) Q2 EARNINGS DOUBLE MISS 🩸

EPS: $(1.60) vs $0.26 est ❌

Sales: $174.881M vs $203.668M est ❌

🟥 -0.38%

📢 𝗝𝗨𝗦𝗧 𝗜𝗡: $Mara(MARA.US) MARA Appoints Two Independent Directors to Strengthen Energy and Data Center Expertise

👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:

➤ 𝗠𝗔𝗥𝗔 appoints 𝗖𝗿𝗮𝗶𝗴 𝗛𝗮𝗿𝘁 and 𝗡𝗮𝗻𝗰𝘆 𝗡𝗼𝘃𝗮𝗸 as independent directors.

➤ Appointments became effective 𝗔𝘂𝗴𝘂𝘀𝘁 𝟭, 𝟮𝟬𝟮𝟲.

➤ 𝗕𝗮𝗿𝗯𝗮𝗿𝗮 𝗛𝘂𝗺𝗽𝘁𝗼𝗻 and 𝗚𝗲𝗼𝗿𝗴𝗲𝘀 𝗔𝗻𝘁𝗼𝘂𝗻 departed the board on July 31.

➤ Board remains at 𝟳 directors, with 𝟲 serving as independent directors.

➤ 𝗖𝗿𝗮𝗶𝗴 𝗛𝗮𝗿𝘁 brings over 𝟮𝟱 𝘆𝗲𝗮𝗿𝘀 of energy and power experience.

➤ 𝗡𝗮𝗻𝗰𝘆 𝗡𝗼𝘃𝗮𝗸 adds more than 𝟰𝟬 𝘆𝗲𝗮𝗿𝘀 of data center expertise.

➤ Hart currently leads Avenue Capital Group's private power strategy.

➤ Novak previously served as Chief Innovation Officer at 𝗖𝗼𝗺𝗽𝗮𝘀𝘀 𝗗𝗮𝘁𝗮𝗰𝗲𝗻𝘁𝗲𝗿𝘀.

👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀:

➤ Strengthens MARA's leadership in 𝗲𝗻𝗲𝗿𝗴𝘆, 𝗱𝗮𝘁𝗮 𝗰𝗲𝗻𝘁𝗲𝗿𝘀, and AI infrastructure.

➤ Adds expertise aligned with the company's expanding digital infrastructure strategy.

➤ Reinforces MARA's focus beyond Bitcoin mining into compute and power assets.

👉 𝗘𝘅𝗽𝗲𝗿𝘁 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀:

𝗙𝗿𝗲𝗱 𝗧𝗵𝗶𝗲𝗹, Chairman and CEO of MARA:

"The two appointments were intended to support the company's strategy combining energy, digital infrastructure and compute."

𝗗𝗼𝘂𝗴 𝗠𝗲𝗹𝗹𝗶𝗻𝗴𝗲𝗿, Lead Independent Director of MARA:

"The board regularly evaluates its composition to align with the company's strategy and long-term growth."

• Nasdaq composite rallies, retaking a key level as AI chip stocks surge.

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• Semiconductor stocks, including Sandisk and Micron, experience broad gains.

• SpaceX's new AI model helps it compete with Google and OpenAI. $SpaceX(SPCX.US)

• Bitcoin price rises as MARA Holdings announces a new Texas data center. $Grayscale Bitcoin Mini Trust ETF(BTC.US)

📢 𝐉𝐔𝐒𝐓 𝐈𝐍: $Mara(MARA.US) MARA to Acquire Texas Site With Up to 2 GW Power Capacity

👉 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:

➤ 𝐌𝐀𝐑𝐀 signed a definitive agreement to acquire a 𝐓𝐞𝐱𝐚𝐬 powered land site from HIF USA.

➤ The site spans 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝟏,𝟐𝟎𝟎 𝐚𝐜𝐫𝐞𝐬 in Matagorda County, about 𝟗𝟎 miles from Houston.

➤ The project is expected to provide up to 𝟏 𝐆𝐖 of grid capacity by October 2027 and 𝟐 𝐆𝐖 by April 2028.

➤ MARA plans to develop the site for 𝐇𝐏𝐂 and 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐦𝐢𝐧𝐢𝐧𝐠 through Starwood Digital Ventures.

➤ Phased construction is expected to begin in 𝟐𝟎𝟐𝟔, subject to regulatory approvals.

➤ Upon full energization, MARA's total potential power capacity could reach approximately 𝟒.𝟖 𝐆𝐖.

➤ HIF will retain a 𝐦𝐢𝐧𝐨𝐫𝐢𝐭𝐲 𝐨𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 interest after executing an HPC tenant lease.

➤ MARA has invested over $𝟏.𝟐 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 in Texas, with the campus expected to support thousands of jobs.

👉 𝐖𝐡𝐲 𝐈𝐭 𝐌𝐚𝐭𝐭𝐞𝐫𝐬:

➤ Expands MARA's infrastructure to support growing 𝐀𝐈, 𝐇𝐏𝐂, and Bitcoin demand.

➤ Additional power capacity strengthens MARA's long-term 𝐝𝐚𝐭𝐚 𝐜𝐞𝐧𝐭𝐞𝐫 growth strategy.

➤ Large-scale energy access could enhance MARA's 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 in digital infrastructure.

👉 𝐄𝐱𝐩𝐞𝐫𝐭 𝐒𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭:

➤ "This transaction advances our strategy of securing strategically located infrastructure assets capable of supporting high-performance compute and bitcoin workloads." — 𝐅𝐫𝐞𝐝 𝐓𝐡𝐢𝐞𝐥, Chairman and CEO of MARA.

➤ "We have issued a notice to proceed for construction on a switchyard to connect the site to the grid while continuing development of our advanced fuels facilities across Texas." — 𝐑𝐞𝐧𝐚𝐭𝐨 𝐏𝐞𝐫𝐞𝐢𝐫𝐚, CEO of HIF USA.

$Mara(MARA.US) | 𝐂𝐢𝐭𝐢𝐳𝐞𝐧𝐬 𝐢𝐧𝐢𝐭𝐢𝐚𝐭𝐞𝐬 𝐌𝐀𝐑𝐀 with 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐩𝐞𝐫𝐟𝐨𝐫𝐦 rating, sets 𝐏𝐓 𝐚𝐭 $𝟐𝟒

Analyst initiates coverage, seeing MARA as well-positioned to be a meaningful competitor due to its large power capacity and capital-efficient HPC strategy.

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