Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Marathon Digital Holdings / Equity Bottom-Up

<ul><li>Marathon Digital Holdings recently reported their first quarter 2024 results, revealing a substantial transformation and strategic reorientation of their business model.</li><li>The company has shifted from primarily an asset-light bitcoin mining operation into a diversified global entity focusing on digital asset computations with a strong emphasis on sustainability and inclusivity.</li><li>A significant highlight of the quarter was Marathon's acquisition and integration of fully owned bitcoin mining sites, a critical step towards gaining direct operational control and optimizing cost efficiencies.</li></ul>

Marathon Digital Holdings recently reported their first quarter 2024 results, revealing a substantial transformation and strategic reorientation of their business model.The company has shifted from primarily an asset-light bitcoin mining operation into a diversified global entity focusing on digital asset computations with a strong emphasis on sustainability and inclusivity.A significant highlight of the quarter was Marathon's acquisition and integration of fully owned bitcoin mining sites, a critical step towards gaining direct operational control and optimizing cost efficiencies.

Marathon Digital Holdings: Vertical Integration and Cost Efficiency As A Key Growth Catalyst? - Major Drivers

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>Following <a href="https://www.smartkarma.com/entities/exxon-mobil-corp" target="_blank" data-smartkarma-citation="entities:811:1" rel="noopener">Exxon Mobil (XOM US)</a>'s acquisition of <a href="https://www.smartkarma.com/entities/pioneer-natural-resources" target="_blank" data-smartkarma-citation="entities:10341:1" rel="noopener">Pioneer Natural Resources (PXD)</a>, <a href="https://www.smartkarma.com/entities/vistra-corp" target="_blank" data-smartkarma-citation="entities:27958:1" rel="noopener">Vistra (VST US)</a> will be added to the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> at the close on 7 May.</li>
<li>
<a href="https://www.smartkarma.com/entities/marathon-digital-holdings-inc" target="_blank" data-smartkarma-citation="entities:33244:1" rel="noopener">Marathon Digital Holdings (MARA US)</a> is an add to the S&amp;P SmallCap 600 Index and the stock could move higher till implementation.</li>
<li>
<a href="https://www.smartkarma.com/entities/marathon-digital-holdings-inc" target="_blank" data-smartkarma-citation="entities:33244:1" rel="noopener">Marathon Digital Holdings (MARA US)</a> stock has underperformed its close peers this year and the ratio of <a href="https://www.smartkarma.com/entities/marathon-digital-holdings-inc" target="_blank" data-smartkarma-citation="entities:33244:1" rel="noopener">Marathon Digital Holdings</a> stock price to <a href="https://www.smartkarma.com/entities/bitcoin-usd" target="_blank" data-smartkarma-citation="entities:25895:1" rel="noopener">Bitcoin (XBTUSD CURNCY)</a> is near the lows.</li>
</ul>


Following Exxon Mobil (XOM US)'s acquisition of Pioneer Natural Resources (PXD), Vistra (VST US) will be added to the S&amp;P 500 INDEX (SPX INDEX) at the close on 7 May.

Marathon Digital Holdings (MARA US) is an add to the S&amp;P SmallCap 600 Index and the stock could move higher till implementation.

Marathon Digital Holdings (MARA US) stock has underperformed its close peers this year and the ratio of Marathon Digital Holdings stock price to Bitcoin (XBTUSD CURNCY) is near the lows.


S&P500 Index Rebalance: Bitcoin Miner Is a SPCY Add

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

<ul><li>Crypto mining requires high capital investment, faces volatile bitcoin prices, and will experience upcoming revenue cuts due to the halving on April 16th</li><li>Experts believe the risks outweigh the potential for short-term success in crypto mining, making it unlikely to generate significant free cash flow in the long term</li><li>Examples like MARA, which saw a significant increase in revenue at a small fraction of its market value, showcase the precarious nature of the industry</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Crypto mining requires high capital investment, faces volatile bitcoin prices, and will experience upcoming revenue cuts due to the halving on April 16thExperts believe the risks outweigh the potential for short-term success in crypto mining, making it unlikely to generate significant free cash flow in the long termExamples like MARA, which saw a significant increase in revenue at a small fraction of its market value, showcase the precarious nature of the industryThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Marathon Digital Holdngs Inc (MARA) - Sunday, Dec 24, 2023

<ul><li>This is our first report on Marathon Digital Holdings, a renowned cryptocurrency technology company.</li><li>Improved operational efficiency also resulted in a lower cost per bitcoin mined and a drop in all-in cost per coin.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

This is our first report on Marathon Digital Holdings, a renowned cryptocurrency technology company.Improved operational efficiency also resulted in a lower cost per bitcoin mined and a drop in all-in cost per coin.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Marathon Digital Holdings: Initiation of Coverage – The Power of Smart Cash Management! How Its Financial Strategy is Winning in the Crypto World! - Major Drivers

Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

<ul><li>There’s a gold rush in the world of AI for not just GPUs, but for datacenters and the power connections that supply them.</li><li>Imagine this, you just bought 100,000 GPUs from Nvidia and you don’t have a place to put them or the power to feed them.</li><li>Not being first to market is a huge cost, as the GPU pay back times are very quick right now even for the H100.</li></ul>

There’s a gold rush in the world of AI for not just GPUs, but for datacenters and the power connections that supply them.Imagine this, you just bought 100,000 GPUs from Nvidia and you don’t have a place to put them or the power to feed them.Not being first to market is a huge cost, as the GPU pay back times are very quick right now even for the H100.

United States

Marathon Digital Holdings, Inc. operates as a digital asset technology company. The Company mines cryptocurrencies, with a focuses on the blockchain ecosystem and the generation of digital assets. Marathon Digital Holdings serves customers worldwide.

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Marathon Digital Holdings (MARA US)

Marathon Digital Holdings: Vertical Integration and Cost Efficiency As A Key Growth Catalyst? - Major Drivers

Marathon Digital Holdings recently reported their first quarter 2024 results, revealing a substantial transformation and strategic reorientation...

Baptista Research

S&P500 Index Rebalance: Bitcoin Miner Is a SPCY Add

ExxonMobil's acquisition will lead to Vistra being added to the SPX. Marathon Digital is an inclusion to the SmallCap 600 index and there could be...

Brian Freitas

Marathon Digital Holdngs Inc (MARA) - Sunday, Dec 24, 2023

Crypto mining requires high capital investment, faces volatile bitcoin prices, and will experience upcoming revenue cuts due to the halving on...

Value Investors Club

Marathon Digital Holdings: Initiation of Coverage – The Power of Smart Cash Management! How Its Financial Strategy is Winning in the Crypto World! - Major Drivers

This is our first report on Marathon Digital Holdings, a renowned cryptocurrency technology company. Improved operational efficiency also resulted...

Baptista Research

Crypto Datacenters NAV

There’s a gold rush in the world of AI for not just GPUs, but for datacenters and the power connections that supply them.

Fabricated Knowledge

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