Marathon Digital is "missing out" on the AI wave, according to Compass Point
The Bitcoin mining company Marathon Digital (
#MARA ) is receiving a "neutral" rating from analysts at Compass Point. Although the company reported record revenues and profits in Q2, its AI-focused strategy is seen as lacking specific evidence and difficult to evaluate.
Distinct strategy, potential risks
Marathon Digital, one of the largest Bitcoin mining companies, announced Q2 revenues of $238 million, a 64% increase compared to the same period last year. Net profit rose 505% to $808 million, largely thanks to the increase in the value of the Bitcoin it holds. The company currently owns nearly 50,000 BTC, valued at approximately $5.9 billion.
However, instead of adopting the popular model of other miners by leasing infrastructure to AI companies, Marathon has chosen to co-develop AI platforms with energy companies. Analysts at
#CompassPoint believe this strategy is increasing operating and research costs, obscuring the company's actual profitability.
Additionally, Marathon aims to generate more than 50% of its revenue from international markets, especially through joint ventures with sovereign energy organizations. While this is a distinct strategy, it also carries certain risks. While competitors are immediately capitalizing on the wave of
#AI , Marathon is following its own path, which could cause the company to "miss out" on opportunities in the short term.