Long Position on MARA @ $27.75 on 8/5/2021 (Momentum)

Marathon Digital Holdings, Inc. (MARA) operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States.

The company was formerly known as Marathon Patent Group, Inc. and changed its name to Marathon Digital Holdings, Inc. in February 2021.

Marathon Digital Holdings, Inc. was founded in 2010 and is headquartered in Las Vegas, Nevada.

Please note this stock reports earnings on Friday, August 13.

Marathon Digital Holdings reported a 1st Quarter March 2021 loss of $0.20 per share on revenue of $9.2 million. The consensus earnings estimate was $0.02 per share on revenue of $11.3 million. Revenue grew 1,443.5% on a year-over-year basis.

The company announced the purchase of an additional 30,000 S19j Pro miners from Bitmain on Monday, which is expected to increase Marathon’s mining operations to approximately 133,000 miners producing approximately 13.3 EH/s once all miners are deployed.

This stock should see an increase in share prices with the current increase in production capacity.

Entry Point: $27.75

Stop Loss: $26.35

Trading Range: $1.48 - 57.75

Target Price: $30.50

Position closed on 8/5/2021 at price of $31.44 with a 13.30% gain in 0 days.

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