$MARA

Crypto market rose 1.2% in 24 hours, unaffected by Fed rate hike. Top performers: NEAR (+18%), Zcash (+17.5%), Dash (+15%). Bitcoin showed minimal reaction. Spot Bitcoin ETFs saw $450M outflow post-CLARITY Act failure. Bitcoin mining costs exceeded prices in Q2, per CoinShares. MARA Holdings bought 1,292 BTC, increasing reserves to 35,577 BTC.

Bitcoin miners have signed over $100B in AI contracts but only generate $1.1B in annualized revenue. Publicly traded miners have 4 GW of AI capacity under contract, but only 550 MW are billing. Investors value miners with AI contracts at 12.9x EV/sales vs. 3.7x for those without. CoinShares notes grid access scarcity and long permitting processes are driving valuations, with some miners abandoning Bitcoin mining for AI.

MARA Holdings purchased 1,292 BTC ($98.64M) via FalconX, per Lookonchain. This follows earlier sales of 23,093 BTC ($1.63B). The firm now holds 35,577 BTC ($2.7B). The buy coincides with failed crypto legislation and AI industry calls for slower development. MARA stock fell 2.7% after a JPMorgan downgrade.

MARA Holdings (MARA) acquired 1,292 Bitcoin for $100 million. Its stock has seen mixed performance, up 13.42% year-to-date but down 35.88% over one year. Analysts debate its valuation, with some arguing it's 38% undervalued at $11.24, while others point to a high P/S ratio of 5.4x. The company is expanding into AI infrastructure, which could drive growth.

Marathon Digital Holdings (MARA) bought 1,292 Bitcoin for $98.6M, or $76,347 per coin, via FalconX. Earlier in 2026, MARA sold 20,880 BTC for $1.5B to fund operations and AI infrastructure. The company now holds ~35,303 BTC, down from 53,822 at late 2025. MARA's Bitcoin treasury is valued at $2.4B-$2.7B. The purchases were identified by on-chain analytics from Lookonchain.

CoinShares reports that publicly traded Bitcoin miners shifting to AI infrastructure are unlikely to reverse course, even with BTC price recovery, due to long-term contracts. AI generates ~$1.5M profit per MW vs. ~$500K for BTC mining. 35 EH/s of computing power is set to exit listed miners, equivalent to 4.7% of Bitcoin's network hash rate. Companies like Keel, IREN, and Cipher Digital are committed to AI, while Riot, MARA, HIVE, and Bitdeer remain flexible. Q2 mining costs averaged $75,500 per

MARA (NASDAQ:MARA) is leveraging its Bitcoin mining assets to expand into AI data centers, citing existing power, land, and infrastructure as advantages. CEO Fred Thiel highlighted the potential for higher revenue and asset values. The company expects to sign two leases by year-end, facing challenges like higher construction costs and regulatory approvals. MARA is partnering with Starwood to mitigate risks and improve cash-on-cash returns.

Coinbase (COIN) rose 6% to $185.34 after Compass Point upgraded it to Neutral with a $177 price target, citing Bitcoin's rebound and the Senate's upcoming CLARITY Act vote. MARA fell 2% following a JPMorgan downgrade to Underweight with an $11 target. IBIT gained 1% as Bitcoin lifted crypto stocks, while SPY dropped 0.8%.

Bitcoin traded above $77,000, up 1.5% in 24 hours, while AI-related stocks fell. The crypto market's resilience contrasted with tech selloffs due to AI slowdown concerns. A Senate vote on digital asset legislation is a key near-term catalyst. Bitcoin's options market turned bullish, with traders positioning for higher prices by year-end.

Crypto markets are outperforming as optimism grows around the U.S. Digital Asset Market Clarity Act, with Bitcoin and Ether gaining. Meanwhile, tech stocks are declining due to concerns over a potential slowdown in AI development, with companies like CoreWeave, Cipher Digital, MARA Holdings, and IREN seeing premarket losses.