Eric Kchikian

CEO Forge Enterprises Int'l, Manufacturing, Real Estate. Expressed opinions are my own not investment advice.

[Chris Barrett @ChrisBarrett]

[ CHAINLINK ]

SERGEY NAZAROV MET WITH SEC CHAIRMAN PAUL ATKINS, SEC CRYPTO TASK FORCE & WHITE HOUSE LEADERS TO ADVANCE U.S. BLOCKCHAIN LEADERSHIP, DISCUSSING TOKENIZED ASSETS, CROSS-CHAIN DATA, AND AUTOMATED COMPLIANCE TO POWER EFFICIENT MARKETS.

SOURCE: CNBC

[SIGMA Quant @SigmaQuantTrade]

$LINK is obviously sitting on a gold mine or golden egg...it's the future!

[Zach Rynes | CLG @ChainLinkGod]

$BTC
$ETH
$LINK

The holy trinity

Three industry leaders in their respective market vertical, providing crucial infrastructure for the decentralized economy

No other protocols have created nearly as much value within our industry

$LINK flipping $XRP for rank #3 is inevitable

[Flowseidon @kiantrades]

Oh my, Druckenmiller added over 540k shares of $VKTX in recent filings

[Cryptoklepto @CK_Cryptoklepto]

Interesting $MARA article.... but I still think that UBS is far too bearish on their price targets 😂

Link: https://t.co/C8MrnvNXZY

[₿itMara @indiansunrise00]

Calling $MARA a ‘value trap’ completely misses the bigger picture.

Most Bitcoin treasury companies — like MicroStrategy and MetaPlanet — only buy and hold Bitcoin. That’s a strong strategy in itself. But $MARA goes far beyond that.

Marathon’s ‘Twin Turbo’ Strategy = Buy + Produce + Compound

Unlike passive holders, $MARA actively mines Bitcoin at scale, accumulates Bitcoin from the open market, and holds it on its balance sheet. That means:
•Compounding exposure to Bitcoin’s upside
•Minimal dilution during a rising BTC price environment
•Self-sustaining operations with cash flow from mining revenue
•+174% growth in Bitcoin holdings over the past five quarters

No other public miner combines treasury accumulation with high-scale production the way MARA does. It’s the closest thing to a Bitcoin-native ETF that produces its own yield.

This Isn’t a Value Trap. This Is the Value.

You’re looking at:
•The largest U.S.-based Bitcoin miner
•Rapidly growing treasury assets
•Surging institutional ownership
•An undervalued market cap vs its BTC reserves
•And a historically proven correlation to massive upside during Bitcoin blow-off tops

Calling this a “value trap” while Bitcoin is in a parabolic phase is like calling Amazon a “bookstore” in 2001.

This isn’t dead value —
This is compressed rocket fuel.

#Bitcoin #CryptoMiners #MARA $MARA #MSTR $MSTR #MTPLF #MetaPlanet

[Micro2Macr0 @Micro2Macr0]

I still strongly believe that @MARAHoldings $MARA's stock price will get to $45 to $85 this cycle, based on positive fundamentals in the space, as well as larger macro.

That would put the market cap roughly around $14 billion to $30 billion. To put that into perspective, a shit coin like $XRP, is valued at $135 billion, right now. Roughly 31x more than MARA's current valuation.

#Bitcoin Holdings:
MARA = 46,374
XRP = 0 <-- This company prints XRP to manage it's business, at will. Which is not nearly as cool as printing the best store of value on the planet.

Also, the current NAV (Net Asset Value) for MARA, when subtracting debt to assets (Including Bitcoin), is roughly 1.35-1.40 depending on how you do it. Either way, it's better than $MSTR's current 1.81x NAV - Source = https://t.co/Bi23PibOqw.

BONUS: Mara is the largest publicly traded Bitcoin miner by both hashrate and (Bitcoin holdings, by a large margin).

So, if you ask me, it's a great value if you believe in Bitcoin's ability to go much higher than it is today.

[Cryptoklepto @CK_Cryptoklepto]

Zabi Nowad, General Counsel at $MARA just filed a Form 4 with the SEC revealing that he purchased MARA shares on the open market

Fine print at bottom: "Represents an open market purchase of the issuer's common stock made in accordance with the issuer's Insider Trading Policy"

https://t.co/68P8s97QNv

[Eric Kchikian @kchikian]

@zinfandelhooks They were both beautiful with a two hour decant should age really well slight edge to the Cheval. Cheers

[Eric Kchikian @kchikian]

Bordeaux 2015 Figeac and 2015 Cheval Blanc decanting for hopefully a beautiful comparison

[maxDoubleDown @maxDoubleDown]

$MARA tomorrow...

[Antonio Costa @ACInvestorBlog]

$MARA Coincidences ? The time will tell but the REAL FACTS NOW are the Record-high Revenue, Net Income, and Adjusted EBITDA for the full year and Q4 2024 ... Good lucks shorts !!! Loaded and locked...

[Eric Kchikian @kchikian]

$MARA Doesn't get much better than this

https://t.co/1qz6mVYdCF

[Eric Kchikian @kchikian]

2014 Cheval Blanc drinking beautifully for being young Bordeaux one of my favorite chateau’s never disappoints

[Eric Kchikian @kchikian]

$MARA

[Robert Samuels @RobSamuelsIR]

HCW names @MARAHoldings top pick for 2025: According to analyst Kevin Dede, "In our five years—the longest on Wall Street—of covering $MARA and the bitcoin mining industry, we have not seen a company embrace the full bitcoin mining ecosystem as broadly as MARA, developing everything from wind powered mining sites, its own mining pool, and software enhancing the bitcoin network. In pushing the technology envelope while constantly maneuvering to reduce power costs, we deem MARA the innovation king . . . With all the creative initiatives under its belt, and an experienced team in place, imagine what the fully ramped machine could offer investors this year?"

[Eric Kchikian @kchikian]

$MARA

[Robert Samuels @RobSamuelsIR]

Per @jpmorgan SOTP valuation metric, @MARAHoldings HODL alone is worth almost $2BN more than $MARA's market cap - with no value being given ascribed for mining operations

As we kick off the New Year, I’ll be sharing insights into $MARA that the market may be overlooking as part of our #MARAInsights series. Today, I will focus on the value of our #bitcoin reserves.

As the largest publicly traded Bitcoin miner, $MARA leverages a hybrid strategy of mining and strategic BTC purchases funded by 0% convertible notes to grow BTC/share.

In 2024, $MARA:
- Mined over 9,000 BTC at a discount to the spot price. (~$67K cash cost per coin in 3Q24)
- Acquired over 22,000 BTC via direct purchases and 0% convertible notes at an average price of ~$87,000/BTC.
- Achieved a YE BTC yield per diluted share of 62.7%
- Had ~7,300 BTC loaned to third parties (some of the most trusted crypto participants), generating additional returns.

As of 12/31/24, $MARA holds ~45,000 BTC, valued at ~$4.2B. Applying @jpmorgan's SOTP valuation metric of 2X HODL premium, this translates to an estimated value of ~$8.4B.

For context, $MARA's market cap as of 1/3/25 is ~$6.7B, yet @jpmorgan's BTC valuation multiple implies our bitcoin holdings alone could be worth $8.4B.

This figure represents only $MARA's bitcoin holdings, with zero credit given to our mining operations, vertically integrated tech stack, or expanding technology business.

In tomorrow's post, I’ll discuss @MARAHoldings meeting and exceeding its 2024 EH/s target. Stay tuned.

[Eric Kchikian @kchikian]

Merry Christmas

[Michael Saylor @saylor]

@fgthiel Thanks Fred. I expect $MARA will be the next.

[Pavel88 @Pavel8868900360]

$marapool humming along…61.6exhash and 12 blocks mined over the last 24 hours. Easy peezy for the 👑 #btc miner. $mara the clear winner in the space and soon the markets will reflect this. Choose wisely.

[Mark Sebring @mark_sebring]

JPM say miner HODL should be valued at 2x premium. This puts MARA HODL value of $7.8B, at $24 $MARA market cap is $7.8B, we are undervalued! #MARAPIG #BTC #MARA