Three major U.S. stocks related to Bit mining, MARA Holdings, Riot Platforms (RIOT), and Core Scientific (CORZ), are showing strong momentum as Bitcoin continues to trade near its all-time high. After BTC broke through $112,000, MARA recorded annual mining revenue of $752 million, and RIOT secured a $200 million credit facility from Coinbase for expansion.
CORZ is showing signs of a golden cross based on overwhelmingly positive analyst opinions, with an average increase prediction of 60.3% and a target price of $18.09. All three companies are deeply rooted in BTC mining, and their recent movements indicate confidence in the long-term potential of this sector.
MARA Holdings (MARA)
MARA Holdings is the world's largest listed Bit mining company, establishing itself at the intersection of cryptocurrency innovation and industry efficiency.
The company recorded annual revenue of $752 million on May 27th, following Bitcoin's explosive rise, marking its most profitable day.
Despite a 19% decrease in BTC production due to the April halving, MARA's strategic shift towards vertical integration and the expansion of its Bitcoin vault, now valued at over $5.28 billion, has strengthened its long-term position.
Unlike companies that simply hold Bitcoin, MARA is increasingly mining more supply and reducing electricity costs through direct energy sourcing and recycling heat from mining operations. This is trading at a reasonable discount compared to the value of its BTC holdings.
Technically, MARA closed 11.6% up yesterday and showed a slight 0.91% decline in pre-market trading, but the overall momentum suggests a turning point.
The next resistance is near $16.70, and breaking through could allow MARA to continue its upward trend, surpassing $17 for the first time since mid-February. Conversely, if sellers regain control and push the price below the support of $14.77, MARA could fall further to $12.63.
Riot Platforms (RIOT)
Riot Platforms (RIOT) has taken a major step in expanding its financial flexibility by extending its existing credit facility with Coinbase Credit from $100 million to $200 million.
The terms remain unchanged, with the borrowed amount secured by a portion of Riot's Bitcoin holdings, and an interest rate applied at the federal funds rate plus 4.5%.
CEO Jason Les emphasized that this measure is to diversify funding sources and reduce capital costs, aligning with the company's long-term vision of becoming the world's leading Bit-based infrastructure platform.
Technically, RIOT closed with a 6.9% increase in the previous session but shows a slight 0.22% decline in pre-market trading. Analysts are overwhelmingly positive, with 15 out of 17 rating it a "strong buy" and expecting an average 70% increase over the next year, targeting $15.54.
Currently hovering near $9.09, RIOT could gain additional momentum by breaking $9.47, especially with a potential golden cross forming on the EMA line soon.
However, if it fails to maintain the support at $9.09, it could retreat to $8.40, with a risk of further decline to $8.05 if selling pressure intensifies.
Core Scientific (CORZ)
Core Scientific (CORZ) closed with a 5.6% increase yesterday, continuing to show momentum and rising 0.6% in pre-market trading.
In a one-year forecast from 17 analysts, this stock has an average increase potential of 60.3%, with a target price of $18.09.
Investor sentiment is overwhelmingly positive, with 16 out of 18 analysts currently rating CORZ as a "strong buy", reinforcing market confidence in the company's prospects.
As one of the leading companies in Bit mining and digital infrastructure, CORZ is gaining attention with its strategic positioning and strong fundamentals amid increasing institutional interest in the cryptocurrency sector.
From a technical perspective, CORZ's moving averages (EMA) are narrowing, indicating an approaching golden cross, a bullish price movement pattern.
If confirmed, this setup could test the resistance at $13.18. However, a downside risk exists. If the support level of $10.34 is not maintained, CORZ could decline to $8.85.
