5 Best Bitcoin Stocks To Invest In

3. Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Number of Hedge Fund Holders: 13

Marathon Digital Holdings, Inc. (NASDAQ:MARA) functions as a digital asset technology company, specializing in the mining of digital assets, with a particular emphasis on the blockchain ecosystem. It is one of the best bitcoin stocks to watch. In November 2023, Marathon Digital Holdings, Inc. (NASDAQ:MARA) reported the production of 1,187 bitcoins, experiencing a 1% decrease from October amid a 9% sequential rise in network difficulty. The domestic energized hash rate for MARA increased by 20% to 23.1 exahashes, with the completion of the facility in Garden City, Texas. As of November 30, 2023, the combined unrestricted cash and bitcoin for the company amounted to $802.3 million.

According to Insider Monkey’s third quarter database, 13 hedge funds were bullish on Marathon Digital Holdings, Inc. (NASDAQ:MARA), compared to 10 funds in the last quarter. 

Here is what Horizon Kinetics 1st/2nd Quarter Interim Commentary has to say about Marathon Digital Holdings, Inc. (NASDAQ:MARA) in its Q1 2022 investor letter:

“Investors also tend to not give sufficient credit to the power of management to enhance or create additional value with such an asset. The commercialization of land requires considerable management expertise. This particular transaction involves two other parties that will build and operate up to 60 megawatts of bitcoin mining, which was stated could accommodate up to 2.0 Exahash of operational capacity. That is quite sizable. As a reference point, Marathon Digital Holdings (NASDAQ:MARA), which has a $1.0 billion stock market value, even after a year-to-date decline of 70%, had about 3.6 EH/s of capacity at year-end 2021, though it expects to reach 13.3 EH/s during this calendar year. The TPL venture is expected to begin operations in the fourth quarter of this year.”