MARA Price Target Raised by J.P. Morgan Amid Bitcoin Boom — But Rating Stays ‘Neutral’

J.P. Morgan raised its price target for Marathon Holdings (MARA) from $18 to $19 on June 24, 2025.

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The update came after Marathon's strong Q1 results, showing better Bitcoin pricing and hash rate improvements.

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Marathon achieved 54.3 exahashes per second in Q1 2025 — a massive 95% jump from last year.

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The cost per petahash dropped by 25%, showing major progress in energy efficiency and operations.

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Even with a net loss from unrealized Bitcoin value changes, revenue soared 30% to $213.9 million.

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Marathon’s focus on infrastructure growth and energy-efficient mining supports its future outlook.

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Despite improvements, J.P. Morgan maintains a ‘Neutral’ stance, citing balanced risks and rewards.

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Analysts see stronger upside in select AI stocks, which may offer lower risk and better near-term value.

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