Citizens Initiates Coverage on Bitcoin Miners with Strong Price Targets
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 24 2026
0mins
Source: stocktwits
- Price Target Setting: Citizens has set price targets of $24 for MARA Holdings, $27 for CleanSpark, and $35 for Bitdeer Technologies, indicating potential upside of 59% to 106% from Tuesday's closing prices, reflecting confidence in the future profitability of these miners.
- Market Performance Analysis: Analyst Greg Miller noted that as Bitcoin miners pivot to high-performance computing (HPC), these companies will leverage power originally used for mining to meet the growing demand for computing capacity, thereby enhancing their market competitiveness and improving economic viability.
- Investor Sentiment Shift: Despite Bitdeer showing the highest potential gain of 106%, retail sentiment on Stocktwits remains in the 'bearish' zone, while MARA and CleanSpark are rated 'neutral' and 'bearish', respectively, indicating cautious market sentiment regarding their profitability prospects.
- Profitability Challenges: While Citizens maintains an optimistic outlook for these miners, all three are facing significant losses, with MARA reporting a net loss of approximately $1.26 billion in its latest quarter, CleanSpark losing $378.3 million, and Bitdeer showing a negative gross margin in Q1, highlighting severe operational challenges.
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Analyst Views on MARA
Wall Street analysts forecast MARA stock price to rise
12 Analyst Rating
7 Buy
5 Hold
0 Sell
Moderate Buy
Current: 12.400
Low
13.00
Averages
22.11
High
30.00
Current: 12.400
Low
13.00
Averages
22.11
High
30.00
About MARA
MARA Holdings, Inc. is a digital infrastructure company. The Company focused on expanding its infrastructure capacity into adjacent workloads, including artificial intelligence (AI), high-performance computing (HPC) and critical information technology (IT). The Company transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. The Company primarily leverages Bitcoin mining as its core business. The Company operates multiple Bitcoin mining sites that provide hosting services to institutional-scale crypto mining companies. Hosting services include colocation and managed services. Colocation services include providing mining companies with sheltered data center space, electrical power, cooling, and internet connectivity. It operates across four continents and 19 data centers in North America, the Middle East, Europe, and Latin America, with approximately 1.9 gigawatts (GW) of total capacity.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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