• Marathon Digital Holdings (MARA) stock lost 35.71% YTD amid bearish momentum and poor Q2 earnings.

• CleanSpark stock fell 15%, and RIOT dropped 55% amid crypto market volatility and price fluctuations. 

• In the YTD time frame, Mara’s stock price lost 35.71% of its trading price, reaching $17.13.

As per available data, the first block of Bitcoin was mined by Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Cryptocurrency mining’s prestige has shifted dramatically, transitioning from a marginalized activity to a legitimate industry fueled by the entry of publicly listed companies. 

Marathon Digital Holdings, Inc. is the most prominent crypto miner globally, with a market capitalization of $5.04 Billion. Since the beginning of 2024, the mining giant has continued its expansion, and a recent report states it has mined Kapsa tokens worth over $15 Million. 

Among all Bitcoin miners, Mara is the leader in terms of mining rigs and other equipment used for digital asset mining. Holding the title of Bitcoin mining leader, the company is exploring the potential of mining other renowned cryptocurrencies. 

MARA Stock Price Overview 

In the YTD time frame, Mara’s stock price lost 35.71% of its trading price, reaching $17.13. The press time trading price are 61.60% greater than that in the past 52 weeks. 

Source: TradingView

Until publishing, MARA stock was trading below the 20, 50, 100, and 200-day EMA (exponential moving average). As per market watcher, the decline in the price is fueled by the constant bearish momentum from August 26 til the closing of August 28, 2024. 

However, broader speculations suggest that its Q2 earnings and revenue release allegedly support the decline in trading prices. Marathon Digital Holdings was expected to report an EPS of negative $0.10; however, the reported EPS was negative $0.75. 

Similarly, the company was expected to report $157.86 million in revenue in the second quarter, but its reported revenue was 8.06%, less than estimations. For Q3 2024, the expected EPS is negative $0.31, and revenue is $153.05 Million. 

Other Crypto Mining Companies & Their Performance

The crypto mining category is led by Marathon Digital, followed by CleanSpark (CLSK), which has a market capitalization of $2.64 Billion. As of writing, CLSK share was changing hands at $10.68, declining 8.80% weekly. 

Source: TradingView

Its current prices are below 20, 50, 100, and 200 days EMA (exponential moving average). CLSK stocks’ annual price target is $22.50%, 110% greater than the press time price. 

The technical indicators powered by TradingView suggest a strong sell, but on the other hand, its analysts’ indicators indicate a sentiment of strong buy. Despite adding 136.28% in 52 weeks, CLSK stock lost 15.24% YTD, 36.12% in six months, and 37.87% in a quarter. 

After analyzing the charts, the nearly visible support for CLSK stock prices in the monthly time frame are $4.42 and $1.68. However, the identified resistance levels are $13.28 and $16.02. 

Core Scientific Inc (CORZ) stock was trading at $10.13; since the beginning of 2024, a sharp growth of over 82% is seen in its share prices. Its current trading prices are above 20,50, 100, and 200 days EMA.

Source: TradingView

In Q2 2024, Core Scientific reported $141.10 Million in revenue with $-804.90 Million and a net margin of -570.44%. Its expected EPS for the quarter was $0.01; however, its reported EPS was negative, at $4.51. 

The stock of Riot Platform Inc. (RIOT) lost over 35% of its price in the past 30 days, reaching $7.64. From the beginning of 2024 till August 28, the stock lost roughly 55% of its price, and in the 52 weeks, it declined nearly 26.50%. 

RIOT’s annual price target is $17.71, 171% greater than the press time trading price. The analysts’ rating of TradingView favors buying, with the nearest visible support of $6.51 and $2.42. 

In case of a reversal in RIOT trading volume sentiment, the nearest visible resistance in the monthly frame is $19.17 and $23.86.