Fred Thiel, CEO of MARA Holdings, stated on July 23 that Bitcoin’s window as a viable payment method has closed due to its volatility. The head of the world’s largest publicly traded Bitcoin miner estimated the cryptocurrency’s fair value at approximately $90,000, representing about 38% upside from its price of around $65,000 in late July 2026. MARA is pivoting toward AI and high-performance computing data centers, which can generate $10 to $15 million in revenue per megawatt compared to roughly $1 million for Bitcoin mining. The company sold portions of its Bitcoin holdings worth approximately $1.5 billion to fund this transition. In Q1 2026, MARA reported a net loss of $1.3 billion while growing its hashrate to 72.2 EH/s.
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