MARA Holdings Cut to Sell at Compass Point Ahead of Earnings, Citing Cash Burn

Investment bank Compass Point downgraded MARA Holdings (MARA) to a sell rating from neutral on Tuesday, citing unsustainable cash burn. “There's better ways to get BTC beta,” analysts wrote in the research note, pointing to Marathon’s hash price, now below 5.5 cents, as a signal of declining profitability. At current operational levels, Compass Point estimates the company is facing significant cash burn that could lead to shareholder dilution source: https://www.coindesk.com/markets/2025/05/06/marathon-digital-downgraded-to-sell-at-compass-point-citing-unsustainable-cash-burn