Marathon Digital (MARA) is on track to become the biggest publicly listed bitcoin miner this year, according to a report by CoinDesk on Friday.

  • The bank’s analyst also began coverage with a 12-month price forecast of $51, signaling a 158% surge from the recent close.
  • Jonathan Petersen, analyst MARA stated that MARA is on pace to be the largest publicly-traded miner by the close of 22, with deposits paid on more BTC ASIC miners than its peers.
  • Marathon is highly profitable irrespective of a recent selloff as the firm’s mining margin is almost 80% compared to nearly 90% in November.
  • Petersen further stated that they forecast that BTC will expand at a +32% CAGR through 2024 and the MARA’s revenue and EBITDA will expand at +120% and +95% CAGR, respectively.

On December 29, Marathon Digital stated it forecasts to have 199,000 operational miners, creating 23.3 exahashes per second by early 2023. MARA up +0.51%