Mara Holdings initiated with an Equal Weight at Barclays

Barclays analyst Ramsey El-Assal initiated coverage of Mara Holdings (MARA) with an Equal Weight rating and $27 price target The firm considers Mara to be one of the largest, most efficient bitcoin miners in the industry. It likes the company’s move to own its own facilities, but says miners in general have proven to be a “less-than-optimal way” to invest in the bitcoin theme, given capital intensity, earnings volatility and halvings. “If you are looking to invest in a Bitcoin miner, we believe MARA is a very compelling choice,” the analyst tells investors in a research note.