MARA Stock Hits One-Month High as Crypto Miners Ride Bitcoin’s Coattails

Marathon Digital’s shares surge to their highest level since April—because nothing pumps a mining stock like BTC’s volatile whims.

Wall Street shrugs as another crypto-correlated asset defies traditional valuation models. Who needs fundamentals when you’ve got meme-worthy momentum?

MARA shares reach a one-month peak

MARA shares recovered to a one-month peak, gaining more rapidly in the past day. MARA traded at $16.34, tracking the BTC expansion in May. Interest in MARA also increased as traders focused on companies carrying Bitcoin treasuries. MARA increased its mindshare on social media, for its unique position as a scalable block producer and direct BTC buyer. The companies also gained exposure during the Bitcoin Conference in Las Vegas. 

MARA also achieved the biggest daily gains, though other corporate miner stocks were in the green. Most corporate miner stocks tracked the BTC market, with net gains for the past month. 

The shares of Mara Holdings have reflected both its mining results and the robust BTC treasury. However, Mara Holdings has not announced new acquisitions and has not competed with Strategy to acquire more BTC through leveraged instruments. 

Despite this, the holding’s approach is more sustainable, supported by its mining operations, locations, and the ability to pivot to data centers. The company expanded to a total of 17 data centers as of May 2025. The company has highly efficient mining operations, accessing 1.1 GW in energy, with the option to expand to 1.7 GW. 

BTC mining costs are estimated at $91,950 per coin, though Mara Holdings has achieved a lower production price due to its early investment and access to cheap energy.

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