Marathon Digital Clocks 168% Bitcoin Hashrate Growth, Will MARA Stock Recover?

Bhushan Akolkar
Updated
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Marathon Digital Clocks 168% Bitcoin hashrate Growth, Will MARA Stock Recover?

Highlights

  • With 168% annual BTC hashrate growth, Marathon Digital has solidified its position in the crypto mining industry.
  • MARA Stock declined by 18% in 2024 following Bitcoin halving in March 2024 which impacted company's revenue.
  • Marathon CEO Fred Thiel remains optimistic on Bitcoin outlook for 2025 expecting higher gains.

Bitcoin miner Marathon Digital attained a major milestone last year clocking an impressive 168% Bitcoin hashrate growth and expanding its position as an industry leader. This aligns with Donald Trump’s vision of making America the hub for BTC production. However, despite this growth, the MARA stock is down 17% on the year chart with investors awaiting a strong recovery.

Marathon Digital Records High Bitcoin Hashrate Growth

Last year in 2024, MARA Pool, operated by Marathon Digital Holdings, recorded a massive 168% annual growth in BTC hashrate thereby consolidating its market position even further. This figure far exceeds the 49% growth of Bitcoin’s overall network during the same period, solidifying MARA Pool’s position as a leader in the mining sector.

As a result, the Bitcoin miner is contributing strongly to Donald Trump’s vision of boosting US influence in the global Bitcoin mining landscape. Last year was a turning point for America’s Bitcoin mining industry leaving behind the likes of top Asian players like Antpool.

Apart from Marathon Digital, the Foundry USA Pool witnessed significant growth while extending its lead over Antpool by a massive 100%. According to real-time Cloverpool data, Foundry’s hashrate surged from 157 EH/s in January 2024 to approximately 280 EH/s by December. On the other hand, Antpool’s hashrate rose modestly from 130 EH/s to 147 EH/s, falling behind Bitcoin’s overall network growth of 49%.

What’s Behind the MARA Stock Fall

While Marathon Digital has been expanding its market dominance, the MARA stock has underperformed market expectations. The stock ended the last year of 2024, 18% down.

This happened as the Bitcoin miner took a major hit in revenue following the Bitcoin halving event in March 2024, which reduced the mining rewards by 50%. The overall Bitcoin mining industry has been facing the heat of this.

Marathon Digital is projected to report a quarterly loss of $0.32 per share, reflecting a staggering year-over-year decline of 1,500%, according to the Zacks Consensus Estimate. For the full fiscal year, the consensus estimate anticipates an earnings loss of $0.29 per share, marking a year-over-year decrease of 270.6%

However, some market analysts believe that MARA would be a better bet than MicroStrategy (MSTR) moving into 2025. This is because the company has made strategic investments in expanding its Bitcoin mining operations while consolidating its market position.

Bitcoin Buying Spree Continues

Bitcoin miner MARA continued its BTC buying spree with nearly $1 billion in Bitcoin acquisitions last month in December. In his latest interview, Fred Thiel, the CEO of Marathon said that he is optimistic about 2025 and suggests investors invest a little bit in Bitcoin every month.

“We are very optimistic about this year. If the strategic Bitcoin reserves happen, lots of other countries will follow suit. Which means somebody has to acquire that Bitcoin from somewhere, because the little amount of Bitcoin that is mined every month, will not be enough. So, you’re going to see price increases there,” said Thiel.

While the MARA CEO refrained from specifying a target price for Bitcoin, he emphasized that the regulatory landscape suggests a bullish outlook for BTC. Thiel highlighted the potential scarcity of Bitcoin supply in the current market, noting that rising demand could significantly boost prices in 2025.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.