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MARA: analysis of a high-voltage strategy

MARA: analysis of a high-voltage strategy

MARA is no longer just a bitcoin miner: the company is transforming itself into a hybrid player, combining energy, high-performance computing and cash in BTC. This ambitious strategy looks attractive on paper, but it is worrying the markets because of its cost, complexity and still uncertain execution.
08.12.2025
Format
Analysis
Topic
Business
Author(s)
Aleksandar Bukovski
Companies mentioned
Marathon Digital Holdings
Assets mentioned
Bitcoin

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