$MARA

4 stories mentioning MARAUpdated 31d ago

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Riot Platforms, TeraWulf, Mara Poised to Benefit From Compute Demand, Morgan Stanley Says

Riot Platforms (RIOT), TeraWulf (WULF), and Mara (MARA) are positioned to benefit from continued demand for compute, with recent deals supporting the broader powered shell provider, or PSP, space, Morgan Stanley said in a Thursday research note.The firm said Mara management remains confident it can secure a high-performance computing, or HPC, deal by year-end. Through its Starwood joint venture, Mara is also progressing lease discussions across multiple sites, with management saying it remains confident it can sign at least two leases before year-end.Morgan Stanley said the recent TeraWulf transaction validates the progression it expected for the sector, with long-duration contracted cash flows, attractive revenue per watt, improving counterparty quality, and a valuation framework that increasingly looks more like infrastructure than Bitcoin mining.The investment firm said the new Rockdale agreement represents the transaction that underpinned its Riot Platforms thesis at initiation, with the company converting a large block of controlled power into a long-duration HPC lease with economics near the high end of powered-shell precedents.Morgan Stanley adjusted Mara's price target to $6 from $5.50, TeraWulf's to $62.50 from $72, and Riot Platforms' to $43 from $36.Price: $20.36, Change: $+0.04, Percent Change: +0.21%

$MARA$RIOT$WULF

Sectors66d ago

Sector Update: Financial Stocks Rise Thursday Afternoon

Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding about 1.1%.The Philadelphia Housing Index was up 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.5%.Bitcoin (BTC-USD) was up 0.7% at $62,701, and the yield for 10-year US Treasuries was down 3.2 basis points to 4.537%.In economic news, US initial jobless claims fell sequentially to 215,000 in the week ended July 4 from an upwardly revised 217,000, compared with 217,000 in a Bloomberg survey.The pace of US existing home sales fell 2.4% to a 4.09 million seasonally adjusted annual rate in June from an upwardly-revised 4.19 million annual rate in May, compared with a rise to 4.20 million in a Bloomberg survey, data from the National Association of Realtors released Thursday showed.In sector news, Kalshi is in discussions with US regulators to expand its perpetual futures offerings beyond cryptocurrencies into asset classes including metals, foreign exchange, and energy, Reuters reported, citing Chief Risk Officer Udesh Jha.In corporate news, Mara (MARA) has agreed to buy a powered land site in Matagorda County, Texas, from HIF USA, the firms said. The site will be developed via Mara's partnership with Starwood Digital Ventures as a campus for Bitcoin mining and high-performance computing workloads. Shares rose past 11%.CME's (CME) attempt to list a self-certified, round-the-clock crude oil futures contract has been blocked by the US Commodity Futures Trading Commission, the regulator said Thursday. CME shares fell 1.9%.Barclays (BCS) is preparing to sell about $875 million of debt financing to support Blackstone (BX) and Tinicum's acquisition of UK aerospace supplier Senior, Bloomberg reported. Barclays shares gained 2%.

$BCS$CME$MARA

Sectors66d ago

Sector Update: Financial

Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 1.1%.The Philadelphia Housing Index was climbing 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.5%.Bitcoin (BTC-USD) was increasing 0.7% to $62,701, and the yield for 10-year US Treasuries was shedding 3.2 basis points to 4.537%.In corporate news, Mara (MARA) has agreed to buy a powered land site in Matagorda County, Texas, from HIF USA, the companies said. The site will be developed via Mara's partnership with Starwood Digital Ventures as a campus for Bitcoin mining and high-performance computing workloads. Mara shares jumped 11%.

$MARA

Wire117d ago

Bitcoin Miners Benefit as AI Firms Pay Premiums for Power Access, Morgan Stanley Says

Bitcoin mining companies are benefiting from growing demand from artificial intelligence firms that are willing to pay higher premiums for quick access to power infrastructure, particularly for data center development, Morgan Stanley said in a note emailed Tuesday.The bank said it maintained a positive view of TeraWulf's (WULF) Bitcoin-to-data-center conversion strategy, and that its valuation update was driven by stronger operating margin assumptions and updated loan-to-cost financing data. The company also continues to meet operational milestones, including delivering 60 megawatts of Core42 IT capacity at Lake Mariner, the firm added.Cipher Mining (CIFR) continues to be viewed as one of the stronger Bitcoin-to-data-center conversion companies, supported by signed leases, visible development progress, and expanding power capacity, Morgan Stanley said, adding that the $2.06 billion Stingray contract was incorporated into the valuation.While MARA (MARA) continues to make strategic progress through initiatives like the Starwood joint venture and the Long Ridge acquisition, its valuation remains more sensitive to Bitcoin price movements and mining economics than peers such as TeraWulf or Cipher Mining, the bank added."We are seeing signs of increasing willingness among key AI players to pay higher 'time to power' premia in the form of increasingly rich economics to Bitcoin companies to utilize their power access to serve [data center] developers," the bank said.Morgan Stanley raised its price targets for TeraWulf to $42 from $41.50 and Cipher Mining to $42.50 from $40.50, while lowering the price target for MARA to $7 from $8.50.Price: $18.11, Change: $-1.02, Percent Change: -5.31%

$CIFR$MARA$WULF

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