Two Cryptocurrency Stocks Benefit from Bitcoin's All-Time Highs
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 12 2025
0mins
Should l Buy MARA?
Source: NASDAQ.COM
Recent Performance of Bullish and MARA Holdings: Both Bullish and MARA Holdings have seen significant gains of over 30% in the past month, with Bullish launching a spot crypto exchange for U.S. institutional investors and MARA reporting a 4% increase in Bitcoin production.
Market Trends in Cryptocurrency: October has been favorable for cryptocurrencies, with Bitcoin rising 7% this month, driven by factors such as the government shutdown, which has increased interest in alternative assets like crypto and gold.
Investment Considerations: When investing in Bitcoin-related companies, it's important to assess how integral Bitcoin is to their business model, including the amount held and the potential risks associated with price fluctuations.
Stock Advisor Recommendations: The Motley Fool's Stock Advisor has identified ten top stocks for investment, notably excluding Bullish, while highlighting the historical success of their recommendations compared to the S&P 500.
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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: 12.180
Low
13.00
Averages
22.11
High
30.00
Current: 12.180
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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- Mixed Market Performance: The S&P 500 index fell by 0.07%, while the Dow Jones Industrial Average rose by 0.32%, and the Nasdaq 100 index decreased by 0.45%, indicating a divergence in market performance amid oil price volatility and geopolitical tensions.
- Oil Price Volatility: Crude oil prices surged to a three-week high on Monday due to Iran's comments on US demands being 'excessive and unrealistic', but prices fell sharply later when President Trump canceled a planned strike on Iran, highlighting the direct impact of geopolitical events on the market.
- Supportive Economic Data: The May NAHB housing market index rose by 3 to 37, exceeding expectations, which indicates resilience in the housing market and may provide some support for stocks.
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- Consent Solicitation Outcome: MARA Holdings' wholly-owned subsidiary successfully obtained consents from over 50% of bondholders before the May 15, 2026 expiration, approving amendments to the 8.750% Senior Secured Notes, ensuring smooth future transactions.
- 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.
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- Revenue Decline: Mara Holdings reported an 18% year-over-year revenue drop to $174.6 million in Q1, missing analyst expectations of nearly $182 million, highlighting the company's vulnerability amid a struggling cryptocurrency market.
- Widening Net Loss: The company's net loss under GAAP deepened to $1.3 billion ($3.31 per share), significantly higher than the $533 million loss in Q1 2025, primarily due to a substantial non-cash write-down of digital assets.
- 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.
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- Strategic Shift: MARA argues that AI demand does not wait for the 7-10 years required for new builds, as the Long Ridge Energy campus provides immediate access to power, fiber, gas, and grid connectivity at a cost below the estimated $1.6 to $2.7 billion replacement cost, showcasing its strategic positioning in the energy market.
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- Mixed Market Performance: The S&P 500 index fell by 0.07%, while the Dow Jones Industrial Average rose by 0.32%, and the Nasdaq 100 index decreased by 0.45%, indicating a divergence in market performance amid oil price volatility and geopolitical tensions.
- Oil Price Volatility: Crude oil prices surged to a three-week high on Monday due to Iran's comments on US demands being 'excessive and unrealistic', but prices fell sharply later when President Trump canceled a planned strike on Iran, highlighting the direct impact of geopolitical events on the market.
- Supportive Economic Data: The May NAHB housing market index rose by 3 to 37, exceeding expectations, which indicates resilience in the housing market and may provide some support for stocks.
- Weak Chinese Economic Indicators: China's April industrial production rose by 4.1% year-on-year, below the expected 6.0%, with retail sales and new home prices also underperforming, reflecting potential risks to global growth prospects.
See More
MARA Holdings Completes Bond Amendment Consent Solicitation
- Consent Solicitation Outcome: MARA Holdings' wholly-owned subsidiary successfully obtained consents from over 50% of bondholders before the May 15, 2026 expiration, approving amendments to the 8.750% Senior Secured Notes, ensuring smooth future transactions.
- 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
Mara Holdings Misses Q1 Earnings Expectations Amid Crypto Decline
- Revenue Decline: Mara Holdings reported an 18% year-over-year revenue drop to $174.6 million in Q1, missing analyst expectations of nearly $182 million, highlighting the company's vulnerability amid a struggling cryptocurrency market.
- Widening Net Loss: The company's net loss under GAAP deepened to $1.3 billion ($3.31 per share), significantly higher than the $533 million loss in Q1 2025, primarily due to a substantial non-cash write-down of digital assets.
- 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
MARA Holdings Acquires Long Ridge Energy Asset Amid Market Volatility
- Market Reaction: MARA Holdings' stock fell about 6% in the last 24 hours, reflecting short-term concerns despite investors digesting the latest AI infrastructure move tied to the Long Ridge acquisition, indicating volatility in market sentiment.
- 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.
- Strategic Shift: MARA argues that AI demand does not wait for the 7-10 years required for new builds, as the Long Ridge Energy campus provides immediate access to power, fiber, gas, and grid connectivity at a cost below the estimated $1.6 to $2.7 billion replacement cost, showcasing its strategic positioning in the energy market.
- 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
Significant Stock Movements for Vestis and Others
- Vestis Earnings Beat: Vestis surged over 30% after reporting fiscal Q2 results that exceeded expectations, along with an upward revision of its fiscal 2026 EBITDA outlook, indicating strong growth potential in the apparel sector.
- Zebra's Strong Performance: Zebra Technologies reported Q1 earnings of $4.75 per share, surpassing the $4.25 expected by analysts, with revenues of $1.5 billion, and Q2 guidance also exceeded estimates, highlighting ongoing growth in the automation sector.
- Ralliant's Earnings Surprise: Ralliant's adjusted Q1 earnings of 57 cents per share exceeded both company guidance and FactSet consensus of 49 cents, leading to a 14% stock increase, reflecting robust demand in the high-precision instruments market.
- Hub Group Financial Restatement: Hub Group's shares fell over 10% after announcing a restatement of its year-end 2023 and 2024 results, which may negatively impact investor confidence.
See More
Under Armour Reports Loss, Shares Drop 14%
- Earnings Loss: Under Armour reported a loss of 3 cents per share on revenue of $1.17 billion, significantly missing analyst expectations of a 2-cent loss and $1.68 billion in revenue, resulting in a 14% drop in stock price, highlighting the challenges the company faces in a competitive market.
- Acquisition Rejection: GameStop shares fell over 4% after eBay rejected its $56 billion takeover bid due to financing concerns, negatively impacting market confidence in GameStop's strategic direction.
- Strong Performance: On Holding's stock fell 5% in premarket trading despite reporting first-quarter earnings and revenue that exceeded analyst expectations, while reiterating its full-year net sales growth outlook, indicating resilience in its business model.
- Significant Stock Movement: Wendy's shares surged over 23% following reports that Trian Fund Management is raising funds for a bid to take the fast-food chain private, reflecting optimistic market sentiment regarding its privatization potential.
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