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Is Marathon Digital (MARA) a Good Investment Pick?

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Horizon Kinetics LLC, an independently owned and operated investment adviser, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. With a long-term absolute return mindset, and based on first-hand research, the fund's portfolios tend to be concentrated and avoid tracking or mimicking any benchmark or index. Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Horizon Kinetics 1st/2nd Quarter Interim Commentary mentioned Marathon Digital Holdings, Inc. (NASDAQ:MARA) and explained its insights for the company. Founded in 2010, Marathon Digital Holdings, Inc. (NASDAQ:MARA) is a Las Vegas, Nevada-based digital asset technology company with an $815.3 million market capitalization. Marathon Digital Holdings, Inc. (NASDAQ:MARA) delivered a -76.66% return since the beginning of the year, while its 12-month returns are down by -70.45%. The stock closed at $7.67 per share on July 12, 2022. 

Here is what Horizon Kinetics 1st/2nd Quarter Interim Commentary has to say about Marathon Digital Holdings, Inc. (NASDAQ:MARA) in its Q1 2022 investor letter:

"Investors also tend to not give sufficient credit to the power of management to enhance or create additional value with such an asset. The commercialization of land requires considerable management expertise. This particular transaction involves two other parties that will build and operate up to 60 megawatts of bitcoin mining, which was stated could accommodate up to 2.0 Exahash of operational capacity. That is quite sizable. As a reference point, Marathon Digital Holdings (NASDAQ:MARA), which has a $1.0 billion stock market value, even after a year-to-date decline of 70%, had about 3.6 EH/s of capacity at year-end 2021, though it expects to reach 13.3 EH/s during this calendar year. The TPL venture is expected to begin operations in the fourth quarter of this year."

Research, Investment, Finance
Research, Investment, Finance

Research, Investment, Finance

Our calculations show that Marathon Digital Holdings, Inc. (NASDAQ:MARA) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Marathon Digital Holdings, Inc. (NASDAQ:MARA) was in 17 hedge fund portfolios at the end of the first quarter of 2022, compared to 15 funds in the previous quarter. Marathon Digital Holdings, Inc. (NASDAQ:MARA) delivered a -63.75% return in the past 3 months.

In February 2022, we published an article that includes Marathon Digital Holdings, Inc. (NASDAQ:MARA) in 10 NFT Stocks to Buy According to Reddit. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.