How good is Marathon Digital stock as crypto continues to whipsaw?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has oscillated between $10-$20 for some months now. The stock touched a low of below $5 at the start of July. Although trading higher at $12, Marathon Digital remains under pressure.

Marathon is a digital asset company. The company is involved in the generation of crypto and has invested in Bitcoin. Consequently, the downsides in digital assets have hugely affected MARA.

In its second quarter, Marathon Digital reported revenue of $24.92 million or £22.05 million. That represented a decline of 15% from the prior year. The company’s net loss widened by 76% to $191.65 million or £169.6 million in the same period.

Heading into the third quarter, investors have low expectations of Marathon Digital. The company’s net loss per share is expected at $0.35, compared to a net income of $0.85 last year. The expectations reflect continuing crypto slump and falling mining incomes. However, we see MARA as a stock to watch.

Technically, MARA is bearish. A slight recovery is evidenced by an uptick in RSI from the near oversold level. Nonetheless, the 50-day MA could curtail short-term price appreciation.

Investing in MARA makes sense on account of the low stock valuation. The stock’s range trading suggests buyers are trying to arrest a further decline at the current level. 

Potential recoveries in cryptocurrencies would be a bull trigger for the stock. In fact, Jefferies had forecasted MARA to trade at $51 by the end of the year. However, the challenges remain as digital assets are struggling. MARA could face additional decline if cryptocurrencies fall again.

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Korean crypto exchange KODA to use Uppsala to boost AML and threat detection

Uppsala, a blockchain security service provider for crypto AML/CTF, transaction risk management, regulatory compliance, and transaction tracking, has announced today that it has signed a contract to supply digital asset AML solutions to KODA (Korea Digital Asset), a South Korean crypto exchange. Through the contract with Uppsala Security, KODA will receive full access to Uppsala […]

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Uppsala Security launches 2.0 version of its on-premise crypto threat management system

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South Korean blockchain security firm Uppsala expands into NFT custody space

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Uppsala Security assists another victim of crypto theft recover stolen funds

Uppsala Security, a provider of security tools and services for crypto AML/CTF, transaction tracking, risk management, regulatory compliance, and cyber security, announced today that they’ve successfully helped a victim recover approximately 5 million KRW (over $4,000 USD). According to the Crypto Incident Response Center (CIRC), the fraud case was reported by the victim in early November […]

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Alleged Kenyan Bill Proposes Widening Definition of Securities to Include Crypto Assets

A bill seeking to put blockchain and crypto assets under the purview of the Kenyan Capital Markets Authority is supposedly set to be debated in the country’s parliament. The bill also seeks to “widen the meaning of ‘securities’ to capture digital currencies.” The persons that receive licenses from the regulator are also required to maintain [...]

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