Compass Point downgrades Bitcoin mining company MARA to sell

Odaily News Investment bank Compass Point downgraded the stock rating of bitcoin mining company Marathon Digital (NASDAQ: MARA) from "neutral" to "sell" and slashed its target price from $25 to $9.50, which is more than 25% lower than the current share price of about $13. Analysts pointed out that Marathon's current cash consumption rate is unsustainable and may lead to shareholder dilution. In addition, the company's stock is trading at a premium to Bitcoin itself, which is not ideal for investors seeking Bitcoin exposure. (CoinDesk)