MARA Holdings Shares Fall 5.7% After JPMorgan Double Downgrade

MARA Holdings shares declined 5.7% in pre-market trading to $11.30 following a double downgrade from JPMorgan. The investment bank moved its rating on the Bitcoin mining company from Neutral to Underweight and reduced its price target to $11 from $13, with the target horizon extended to December 2027.
JPMorgan’s assessment focused on MARA’s capital-light strategy through its joint venture with Starwood Digital Ventures. Under the arrangement, MARA provides powered land sites while S