- Marathon Digital Holdings Stock Overview
- Performance of Other Crypto Mining Companies
- Technical Analysis and Projections
Stocks of major crypto mining companies, including Marathon Digital Holdings, continue to lose value. Let's take a look at their current performance and the reasons behind their decline.
Marathon Digital Holdings Stock Overview
Year-to-date, Marathon Digital Holdings (MARA) has lost 35.71% of its stock value, reaching $17.13. As of publication, its price is 61.60% higher than in the past 52 weeks. However, the stock is trading below the 20, 50, 100, and 200-day EMA (exponential moving averages). The company was expected to report an earnings per share (EPS) of -$0.10, but the actual EPS was -$0.75. Expected revenue for Q2 was $157.86 million, but actual revenue was 8.06% lower. Predicted figures for Q3 2024 include an EPS of -$0.31 and revenue of $153.05 million.
Performance of Other Crypto Mining Companies
CleanSpark (CLSK), with a market capitalization of $2.64 billion, is trading at $10.68, down 8.80% for the week. The annual price target for CLSK shares is $22.50, 110% above the current price. Despite a 136.28% increase over the past 52 weeks, the company's stock has lost 15.24% YTD. Core Scientific Inc (CORZ) stock has risen more than 82% since the beginning of 2024, trading at $10.13 as of publication. In Q2 2024, the company reported revenue of $141.10 million and a net loss of $804.90 million. The expected EPS for the quarter was $0.01, but the actual EPS was a negative $4.51. Riot Platform Inc. (RIOT) has lost over 35% of its value in the past 30 days, reaching $7.64. Since early 2024, RIOT stock has dropped by 55%.
Technical Analysis and Projections
MARA stock is trading below the 20, 50, 100, and 200-day EMAs, indicating a continued bearish trend. CLSK shows strong sell signals from technical indicators. The support and resistance levels for these stocks were analyzed on charts. Analysts predict RIOT shares could reach a target price of $17.71, with near-term support at $6.51 and $2.42.
Stocks of major crypto mining companies continue to show negative trends. The influence of the bearish market and disappointing financial reports are leading to declining stock values.
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