MARA Holdings fell as Bitcoin and major U.S. equity indexes declined, with macroeconomic concerns adding to pressure on risk assets. Bitcoin dropped $1,421.86, or 1.82%, over 24 hours to $76,838.53, while the Nasdaq fell 1.14% and the S&P 500 lost 0.54%. Brent crude rose past $102 a barrel and crude oil exceeded $97, reaching May highs amid the ongoing U.S.-Iran conflict. Iran signaled readiness for an intensified conflict, and President Donald Trump predicted the war would continue beyond the November midterm elections. The decline came as MARA pursues a mid-2025 strategy to become a vertically integrated digital energy and artificial intelligence infrastructure provider while retaining Bitcoin mining as its core business. CEO Fred Thiel outlined the approach during an Aug. 6 second-quarter update, describing excess energy as a source of digital capital and highlighting efforts to reduce the energy demands of high-performance computing. MARA is also pursuing a roughly $1.5 billion acquisition of Long Ridge Energy to expand power and computing capacity for potential AI services. Technically, the stock remains 28.72% lower over 12 months and is about 7.6% below its 100-day SMA at $12.22. A cited price of $11.32 was 4.9% above the 20-day SMA at $10.77 and nearly level with the 50-day SMA at $11.29, while RSI stood at a neutral 50.99. Benzinga Pro data showed MARA down 3.15% at $11.54 on Thursday. Resistance was identified near $12 and support near $10.