MARA Holdings Signs Agreement with MPLX for Power Generation Facilities
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 20 2024
0mins
Source: Newsfilter
MARA Holdings Inc. saw a price increase of 5.00% as it crossed above the 5-day SMA, reflecting positive market conditions. The company has signed a letter of intent with MPLX to develop integrated power generation facilities and data centers in Texas, starting with an initial capacity of 400MW, which could scale up to 1.5GW. This strategic collaboration aims to enhance reliability for regional energy and computing needs, positioning MARA favorably in the growing data center market.
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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: 13.810
Low
13.00
Averages
22.11
High
30.00
Current: 13.810
Low
13.00
Averages
22.11
High
30.00
About MARA
MARA Holdings, Inc. is engaged in digital asset compute that develops and deploys technologies. The Company secures the blockchain ledger and supports energy transformation by converting clean, stranded, or otherwise underutilized energy into economic value. It also offers advanced technology solutions to optimize data center operations, including liquid immersion cooling and firmware for bitcoin miners. It is primarily focused on computing for, acquiring, and holding digital assets as a long-term investment. Its core business is bitcoin mining, and it produces, or mines, bitcoin using energy-efficient fleets of specialized computers while providing dispatchable compute as an optionality to the electric grid operators to balance electric demands on the grid. It is also engaged in the sale of data center infrastructure, such as immersion-cooled systems, to third parties operating in the bitcoin ecosystem and the artificial intelligence (AI) and high-performance compute (HPC) sectors.
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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- Amendment Activation: The amendments will exempt MARA from making a 'Change of Control' tender offer post-transaction, alleviating additional financial burdens on bondholders and enhancing the company's financial flexibility.
- Transaction Timeline: The transaction is expected to close in the second half of 2026, which, if successful, will further solidify MARA's market position in digital energy and drive the development of its high-performance computing infrastructure.
- Fee Structure: Each consenting bondholder will receive a consent fee of $2.50 per $1,000 of bonds held, with no fee payable if the transaction does not close, ensuring financial security for the company until the deal is finalized.
See More
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- Bitcoin Holdings Decrease: Mara Holdings experienced a 26% reduction in Bitcoin holdings, and despite progress in its data center operations, investor enthusiasm waned as the price of Bitcoin fell, impacting the value of its assets.
- Negative Market Reaction: The stock price fell by 5% to $12.72, reflecting diminished investor confidence in the company's ability to transition into a successful data center operator, although its diversification efforts are seen as more advanced than some peers.
See More
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- Acquisition Details: The company is acquiring a 505 MW combined-cycle gas asset with an annualized EBITDA of approximately $144 million, covering 1,600 acres and with the potential to expand beyond 1 GW, marking a roughly 65% increase in owned power capacity.
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- Strong Financial Position: With over $2.5 billion in net liquidity, including Bitcoin holdings and cash, MARA is repositioning from pure Bitcoin mining towards energy-backed AI and HPC infrastructure, aiming for faster monetization of connected power.
See More
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