Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
JPMorgan downgraded Nasdaq-listed Bitcoin miner MARA Holdings (MARA) to underweight from overweight and cut its price target to $11 from $13. In a report, the bank said MARA is pursuing a large-scale data center buildout with U.S. private equity firm Starwood Capital, but some mining facilities may be poorly suited for conversion into AI and high-performance computing data centers, a strategy JPMorgan said could dilute value creation. The report also said some mining sites have relatively limited power capacity, making them unsuitable for data center conversion. MARA fell more than 3% on the news and was recently trading at $11.80, down 1.79%.