Marathon Digital (NASDAQ: MARA) transformed from a tiny patent holding company into the world's largest Bitcoin (CRYPTO: BTC) miner over the past six years. By the end of 2023, it had deployed a fleet of 199,200 miners, and it was holding more than 15,000 BTC (worth $698 million as of this writing) on its own balance sheet.

Marathon's stock has gone through some wild swings since its first big purchase of BTC miners in early 2018. The bulls praised it as a great pure play on Bitcoin, while the bears claimed its capital-intensive mining business was unsustainable. But over the past 12 months, Marathon's stock has rallied over 420% as BTC's price rose roughly 170%. Could Marathon's stock soar even higher over the next 10 years as Bitcoin becomes a mainstream asset?

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Source Fool.com