MARA Stock Surges 30% On Ohio Power Play Ahead Of Q3 Earnings
MARA Holdings Inc (NASDAQ:MARA), a digital asset technology company engaged in mining cryptocurrencies, saw its shares close at $25.01 on Monday. That’s a whopping 29.92% daily gain following news of its Ohio power acquisition.
What Happened: MARA secured 152 megawatts (MW) of active power across three Ohio sites, with additional approvals for up to 220 MW, acquiring this capacity at an impressively low $270,000 per MW.
MARA’s acquisition price is on the “low end of deals,” according to JPMorgan analyst Reginald L. Smith. The company managed to secure favorable economics.
MARA’s self-mining portfolio already includes 600 MW across Texas and Nebraska. Smith emphasized that MARA’s vertical integration strategy—owning its own mining sites rather than relying on colocation—enhances mining economics.
Smith estimates that MARA could add 10 EH/s with the newly acquired Ohio sites in the near term. The Las Vegas-based company could add another 15 EH/s by …
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