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Jones Research maintains HOLD rating on Bitcoin miner MARA amid rising costs and Strategy Shifts Toward AI Services: Q3 Earnings

Jones Research has re-issued its ‘Hold’ rating for Bitcoin mining giant MARA (Nasdaq: MARA), noting missed expectations for third quarter earnings as higher operating costs weighed on margins. The bitcoin miner and digital infrastructure company reported third-quarter revenue of 252.4million,up6252.4 million, up 6% from the prior quarter and above JonesResearch’s 246.1 million estimate. However, EBITDA came in at 51.0million,belowthefirms51.0 million, below the firm’s 83.7 million projection, as general and administrative and research expens ...