December 18, 2024
The previous analysis explored Marathon Digital Holdings Inc.’s long-term vision as a leading Bitcoin miner, emphasizing their commitment to invest more, mine more, and hold the most Bitcoin. Now, with the price reaching $107,000, it appears their strategy was sound.
As of September 30, Marathon held a Bitcoin balance of 26,767 BTC. Therefore, at a price of $107,000 per Bitcoin, the value of their holdings increased to approximately $1.2 billion, effectively offsetting the accumulated loss of about $500 million.
Moreover, MARA recently purchased 11,774 BTC for $1.1 billion (approximately $93,000 per BTC). With the Bitcoin mined after September 30, their total now exceeds 40,000 BTC. This highlights the management’s determination to remain optimistic about the future of Bitcoin.
They are now very close to Jolan’s target of $120,000 per Bitcoin (The previous analysis). Can we envision calculating the fair value of this digital asset in the 2024 financial statements based on this target?
Jolan Financial Systems Inc.