Bitcoin Dip, AI Data Center Pivot, and Analysts’ Price Targets
MARA Holdings, Inc. (NASDAQ: MARA) is back in its natural habitat on Thursday, December 18, 2025: a high-volatility tug-of-war between Bitcoin’s mood swings and investors trying to price a company that’s no longer “just” a miner.
After a sharp selloff in the prior session, MARA closed Wednesday, Dec. 17 at $9.93 (-7.11%) with heavy trading volume (about 45 million shares), then bounced in early premarket action to around $10.23 (+3.02%) as of 8:57 a.m. ET. [1]
That whiplash isn’t random noise. It reflects a market narrative that’s grown more complicated in 2025: miners are being valued not only as leveraged Bitcoin exposure, but also as energy infrastructure and potential AI/HPC (high‑performance computing) plays—while…
