MARA 33,875 BTC and potential set-up for break out
Marathon Holdings (MARA) is showing strong technical momentum as it aims to break out of a long-term symmetrical triangle pattern, indicating potential for continued upside. The chart highlights a well-defined ascending support line and declining resistance, which has now been tested and breached. Volume trends are supportive, with increased buying pressure evident.
Fundamental Impact of Bitcoin Holdings
Marathon's Bitcoin holdings are a key driver of its valuation. As of Q3, the company held 26,747 BTC, valued at approximately $1.69 billion based on Bitcoin's Q3 price of $63,300 per BTC. Following additional acquisitions, Marathon's holdings have increased to 33,875 BTC. With Bitcoin currently trading at $98,000, these holdings are now worth approximately $3.32 billion, reflecting a $1.63 billion increase in fair value.
Estimated Mining Growth
In October, Marathon mined 717 BTC, with November and December projections exceeding 800 BTC each. Combined with potential additional acquisitions, the company could close Q4 with approximately 40,000 BTC. At the current Bitcoin price of $98,000, this would increase their holdings' value to around $3.92 billion by year-end.
Fundamental Impact of Bitcoin Holdings
Marathon's Bitcoin holdings are a key driver of its valuation. As of Q3, the company held 26,747 BTC, valued at approximately $1.69 billion based on Bitcoin's Q3 price of $63,300 per BTC. Following additional acquisitions, Marathon's holdings have increased to 33,875 BTC. With Bitcoin currently trading at $98,000, these holdings are now worth approximately $3.32 billion, reflecting a $1.63 billion increase in fair value.
Estimated Mining Growth
In October, Marathon mined 717 BTC, with November and December projections exceeding 800 BTC each. Combined with potential additional acquisitions, the company could close Q4 with approximately 40,000 BTC. At the current Bitcoin price of $98,000, this would increase their holdings' value to around $3.92 billion by year-end.
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