Should I buy Marathon Digital stock in 2025?

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At HelloSafe, our experts have been monitoring the performance of Marathon Digital for more than three years. Every month, tens of thousands of users in Singapore rely on us to analyse market trends and uncover the best investment opportunities. Our analyses are prepared for informational purposes and do not constitute investment recommendations. In line with our ethical charter, we have never been, and will never be, compensated by Marathon Digital.

What is Marathon Digital ?

How much is Marathon Digital stock?

The price of Marathon Digital stock is rising this week. Currently trading at $14.29 USD, the stock is up 7.20% in the past 24 hours but has dipped 1.31% over the past week.

Given this level of volatility, investors in Singapore should be aware that significant price swings can offer both opportunities and risks in this fast-moving sector.

Our full analysis on Marathon Digital stock

We have thoroughly assessed Marathon Digital Holdings’ latest financial results and reviewed the stock’s multi-year price trajectory, drawing on multiple data sources, competitive benchmarking, proprietary financial algorithms, and up-to-date technical signals. This integrated analytical approach delivers a comprehensive, forward-looking perspective, highlighting both the company’s current positioning and its strategic potential amidst a rapidly evolving digital asset landscape. So, why might Marathon Digital serve once more as a compelling entry point into the broadly transformative blockchain infrastructure sector in 2025?

Recent Performance and Market Context

The past year has tested Marathon Digital’s resilience, evidenced by a share price decline of nearly 29% year-on-year and over 25% over six months; yet the current price of $14.29 marks a notable turnaround, posting a robust +7.2% intraday gain as of May 9, 2025. This rally speaks to the stock’s responsiveness to positive market catalysts, especially as the broader cryptocurrency market regains momentum led by fresh Bitcoin highs. Notably, analysts now assign MARA a consensus price target of $19.85—a projected upside exceeding 39%. The trading volume remains exceptionally high, maintaining a three-month average of 38.5 million shares daily, pointing to robust market confidence and liquidity.

On the operational front, Marathon Digital has recently completed a 50 MW expansion at its Ohio facility, doubling operational capacity and endorsing its commitment to scale. Meanwhile, a 5.5% gain in energized hashrate for April 2025 has mitigated the impact of a challenging 8% rise in mining difficulty—a challenge that many competitors have struggled to navigate as effectively as Marathon. All these parameters solidify the view that, even amidst short-term volatility, the confluence of strategic expansion, market leadership, and technical outperformance repositions MARA as an attractive consideration for Singapore’s sophisticated investors looking for exposure to the cryptocurrency infrastructure space.

Furthermore, the macro context supports renewed optimism: the post-halving environment for Bitcoin is refocusing market attention on operationally efficient miners, while global digital asset adoption and regulatory tailwinds in leading markets bolster sector sentiment. The surge in institutional transactions and increasing integration of digital assets into mainstream financial services provide additional support for related equity plays—factors that, taken together, suggest Marathon Digital’s timing for renewed interest is favourable.

Technical Analysis

A close inspection of MARA’s chart reveals a confluence of bullish technical dynamics pointing to an imminent upward trajectory. The stock trades above all major moving averages, with the 20-, 50-, 100-, and 200-day MAs clustered tightly below the current price—an alignment typically associated with robust short-to-medium term market structure. The Relative Strength Index (RSI) stands at 63.58, drawing close to overbought territory but not breaching critical levels, thus reflecting strong but sustainable buying momentum.

The Moving Average Convergence Divergence (MACD) is positive at 0.18, confirming a bullish impulse that finds further support from persistent price closes above both key support ($13.76) and intermediate resistance ($14.50) levels. Recent sessions have also highlighted pronounced accumulation, with a series of higher lows reinforcing the notion of a base formation. Most notably, proprietary algorithms currently issue a “strong buy” designation based on technical signals, underlining MARA’s transition into a potential new bullish phase.

These converging signals suggest a highly favorable entry context for both tactical and strategic investors. Momentum remains constructive, and the recent technical rebound could serve as a precursor to a more sustained move, especially should key resistance levels be convincingly surpassed in the weeks ahead.

Fundamental Analysis

Marathon Digital’s Q1 2025 revenue of $213.9 million marks an impressive 30% expansion year-over-year, underscoring the firm's ability to capture growing demand in the mining sector, despite narrowly missing consensus expectations. The negative EPS of -$1.55, while disappointing versus analyst forecasts, is partially offset by the company’s exceptional growth in Bitcoin holdings—now standing at 48,237 BTC, up a remarkable 174% year-over-year. This vast crypto treasury serves both as a liquid asset base and a uniquely leveraged vehicle for upside as Bitcoin appreciates.

The company’s current price-to-earnings ratio of 8.31 remains strikingly attractive relative to sector peers and historical averages, especially given current high-beta trading conditions (Beta 6.84). While there is no dividend, Marathon’s capital structure—with 351.9 million shares outstanding and nearly all in public float—favors price discovery and enhances potential upside in high-volume environments.

Strategically, Marathon Digital’s forward-thinking shift towards vertical integration—managing digital energy and infrastructure in-house—positions it for margin expansion, improved resilience against Bitcoin halving shocks, and greater operational control. The company’s laser focus on energy efficiency, particularly via new gas-to-power operations in North Dakota and Texas, reduces cost per BTC mined and provides a meaningful ESG narrative through methane mitigation—a feature increasingly favored by institutions and regulators globally.

Marathon’s robust expansion of physical mining capacity, including installation of over 12,000 S21 Pro miners at the Ohio facility, aligns with its broader strategy of deploying capital efficiently into leading-edge infrastructure. These initiatives, along with ongoing innovations in energy management and advanced data center solutions, furnish the company with durable structural advantages over less agile competitors.

In terms of valuation, MARA stands out for its potential to deliver growth at an attractive multiple. The price-to-sales and forward price-to-earnings ratios compare favourably not only among regional competitors but also global equity benchmarks, justifying renewed institutional and retail interest.

Volume and Liquidity

The consistently elevated daily trading volume underscores enduring investor interest and strong secondary-market liquidity, essential for both institutional accumulation and nimble tactical allocations. With a publicly available float of 343.5 million shares and an average daily turnover well above 10% of float, Marathon’s market depth is substantial—limiting slippage and supporting efficient trade execution even at institutionally meaningful scale.

Such robust liquidity signals healthy market engagement and enables dynamic revaluation, particularly in periods of heightened sector news flow or Bitcoin price surges. It also acts as a potent amplifier for positive events, offering an advantageous context for entry. Singaporean investors—renowned for sophisticated, liquidity-sensitive strategies—can draw confidence from this consistent depth, knowing the stock accommodates both trading agility and position-building.

Catalysts and Positive Outlook

Several potent catalysts are lining up to potentially drive Marathon Digital’s next upward phase. First and foremost, the stock’s strong correlation with Bitcoin’s price provides leverage to any positive spot or ETF-driven price momentum, with the potential for a substantial uplift as institutional flows deepen in 2025. Moreover, company-specific factors—including vertical integration, ongoing data center expansions (up to 200 MW in Ohio), and greater mining efficiency—promise both margin resilience and output growth.

Additional upside drivers include:

• Technology innovation: Rollout of advanced miner hardware (e.g., S21 Pro), proprietary energy management solutions, and advanced cooling, supporting best-in-class efficiency.
• ESG credentials: Methane mitigation from North Dakota and Texas operations aligns with the rising institutional imperative for clean energy in mining, providing not just reputational benefit but a meaningful operational edge.
• Regulatory developments: Signs of constructive policy evolution in major technology hubs, including Singapore, onboarding digital assets into mainstream financial frameworks—likely to benefit leaders like Marathon with established governance and scale.
• Strategic treasury management: The growing Bitcoin treasury offers optionality—yielding gains both through crypto appreciation and potential future yield strategies as regulations and custody frameworks mature.

Crucially, Marathon’s ongoing capacity build-out, focus on low-cost power, and strategic capital management initiatives provide catalysts that could fuel not only price mean-reversion, but also potential new highs as digital infrastructure adoption accelerates globally.

Investment Strategies: Short, Medium, and Long-Term Arguments

Given the above, the merits of both short- and long-term exposure to Marathon Digital appear compelling:

• Short-term:
• Current breakout above all key moving averages and technical buy signals suggest near-term momentum.
• The price is positioned at an attractive technical inflection point, with $14.50 as an immediate resistance potentially giving way to further upside.
• High liquidity ensures tactical traders can capitalize on volatility as Bitcoin price events unfold.
• Medium-term:
• Forthcoming operational launches and hash rate expansions (notably in Ohio and Texas) could unlock further earnings momentum.
• Execution of vertical integration strategy is likely to reinforce margin improvement and capital efficiency, driving higher profitability and market confidence.
• Recovery prospects following the recent Q1 earnings “reset” may set up a positive earnings surprise cycle as cost initiatives bear fruit.
• Long-term:
• Marathon’s transition to a fully integrated digital energy leader, its massive Bitcoin holdings, and its scalable infrastructure underpin durable sources of competitive advantage.
• The company is well-positioned to benefit from both the appreciation of core crypto assets and the secular migration of digital energy and infrastructure to the forefront of the global economy.
• Structural growth tailwinds in Web3, digital payments, and blockchain adoption offer enduring optionality rarely matched by traditional tech sector peers.

These factors combine to suggest that the current period, marked by technical consolidation and operational transformation, may represent an exceptional setup for both new entries and strategic accumulation.

Is It the Right Time to Buy Marathon Digital?

In summary, Marathon Digital displays many of the attributes investors seek in a strategic growth play: relentless expansion in operational capability, a uniquely large balance sheet of Bitcoin holdings, a well-articulated efficiency and sustainability framework, and robust market liquidity. The ongoing transformation into a vertically integrated digital energy leader, along with its multiple innovation initiatives, points to durable upside potential—even in the face of sector volatility.

Key strengths include:

• Strong technical signals with the stock trading above all principal moving averages.
• A forward-looking growth strategy supported by rapid expansion in mining and infrastructure.
• Operational excellence, evidenced by hash rate growth and resilient performance against sector headwinds.
• Compelling valuation with a P/E ratio far below many tech sector peers, despite substantial optionality via its Bitcoin treasury.
• Best-in-class liquidity, supporting both institutional and retail participation.

Given these fundamental and technical strengths, and taking account of current market sentiment, Marathon Digital appears to offer an excellent opportunity for investors seeking diversified exposure to blockchain infrastructure. While volatility is inherent, the stock’s alignment with powerful digital economy trends and its clear roadmap for value creation suggest that it may be entering a new bullish phase. For market participants in Singapore and beyond, the case for a renewed allocation to Marathon Digital is underscored by both cyclical momentum and secular growth, making the stock one to watch as digital assets continue to transform the investment landscape.

How to buy Marathon Digital stock in Singapore?

Buying shares of Marathon Digital Holdings (NASDAQ: MARA) is a straightforward and secure process for retail investors in Singapore when done through a regulated online broker. You can choose between two main methods: direct “spot” buying of the actual shares, or trading Contracts for Difference (CFDs) which allow you to speculate on price movements without owning the stock. Spot buying gives you genuine ownership, while CFDs offer leverage for potentially higher (but riskier) returns. To help you pick the best platform, you’ll find a detailed broker comparison further down this page.

Spot buying

A cash or spot purchase involves buying real Marathon Digital shares through your broker. This means you actually own the stock, participate in potential capital appreciation, and can keep your investment as long as you like. In Singapore, typical online broker fees are a fixed commission per trade – often around SGD 5 to SGD 15 (about USD 4–11), converted according to prevailing rates.

Important example

Example:
If Marathon Digital’s share price is $14.29 USD, with SGD 1,350 (approximately $1,000 USD), you can buy about 70 shares, including a SGD 7 (approx. $5 USD) brokerage commission.
✔️ Gain scenario:
If the share price rises by 10%, your 70 shares are worth around SGD 1,485 (USD 1,100).
Result: That’s a +SGD 135 (USD 100) gross gain, or +10% on your investment.

Trading via CFDs

CFD trading lets you speculate on the price of Marathon Digital shares without owning them. Instead, you trade a contract that reflects the share’s price. This approach is popular for those seeking short-term opportunities, thanks to features like leverage – allowing you to control a larger position with a smaller upfront amount. Typical fees include the spread (difference between bid and ask price) and overnight financing costs if you hold positions beyond a trading day.

Important example

Example:
You open a CFD position on Marathon Digital shares with an initial SGD 1,350 ($1,000 USD) and use 5x leverage, giving you SGD 6,750 ($5,000 USD) market exposure.
✔️ Gain scenario:
If MARA shares rise by 8%, your gain is 8% × 5 = 40%.
Result: That’s a +SGD 540 profit on a SGD 1,350 bet (excluding fees).

Final advice

Before investing, always compare the commissions, spreads, and conditions offered by different brokers – these can affect your net returns significantly. The right method—spot buying for long-term investors, or CFD trading for those seeking more flexibility and risk—depends on your financial goals and investment horizon. For an overview of the leading brokers in Singapore, see our comparative table further down this page. Investing online in Marathon Digital is accessible and secure for all Singapore investors, provided you take the time to choose the solution that matches your objectives.

Our 7 tips for buying Marathon Digital stock

The latest news about Marathon Digital

Marathon Digital’s technical indicators flash a “Strong Buy” after a week of renewed bullish momentum. In the last week, MARA’s share price rebounded by 7.2% intraday, outpacing both its 20-day and 50-day moving averages, and closing at $14.29, with technical metrics such as the RSI (63.58) and MACD (0.18) confirming sustained upward momentum. The stock is currently trading well above key support ($13.76) and displaying resilience, signaled by high trading volumes and a robust analyst consensus price target of $19.85, which implies a potential 39% upside. Such technical strength offers positive cues for Singaporean traders and institutions exposed to US tech or crypto sector ETFs, many of which include MARA as a component.

Marathon Digital’s rapid operational expansion and hashrate growth support optimism amid post-halving headwinds. The company recently completed a major 50-megawatt data centre expansion in Ohio, boosting total capacity to 100 MW, and energized over 12,000 advanced S21 Pro miners. This pushed energised hashrate to 57.3 EH/s in April, a 5.5% monthly increase even as mining difficulty rose 8%. This scaling is particularly relevant for institutional analysts in Singapore monitoring global digital infrastructure investments, as MARA’s operational achievements set an industry benchmark in maintaining growth despite rising mining obstacles.

A strategic shift toward vertical integration and energy efficiency solidifies competitive advantages. Marathon is transitioning from an asset-light miner to a vertically integrated digital energy provider, optimizing operations through initiatives like gas-to-power conversions in North Dakota and Texas, which deliver industry-low Bitcoin mining costs and contribute to methane emission mitigation. These environmental, social, and governance (ESG) strengths are increasingly important for Singaporean asset managers and sovereign funds, as sustainable crypto exposure grows in relevance under evolving MAS stewardship and mandatory sustainability disclosure frameworks.

Expanded Bitcoin treasury provides resilience and upside leverage for MARA shareholders. With 48,237 BTC on the balance sheet—a 174% year-on-year increase—Marathon offers investors indirect Bitcoin exposure while limiting downside risk through substantial asset backing. These holdings, now among the largest for any public Bitcoin miner, are particularly attractive to Singapore-based funds and family offices seeking listed proxies for digital asset appreciation while navigating MAS’ evolving regulatory stance on direct spot crypto access.

Despite a Q1 2025 earnings miss, strong revenue growth and balance-sheet strength are constructive signals. Marathon reported Q1 revenue of $213.9 million, up 30% year-over-year, with net losses reflecting short-term margin pressures post-halving and increased mining difficulty. Nonetheless, the scale of MARA’s recent operational deployments and asset reserves suggests underlying fundamentals remain robust, a factor that could influence positive re-rating of the stock as US and Asia-Pacific Bitcoin sentiment strengthens. This resilience supports a longer-term constructive view among Singaporean analysts focusing on leading US crypto infrastructure equities.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.