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[@Lexico](/creator/twitter/Lexico)
"$MARA is the only public miner trading at 1:1 with its BTC stack. 52477 BTC $5.6B Market cap $5.6B Thats liquidation parity the entire mining energy & AI infra valued at $X. EV/EBITDA X. The market is asleep"  
[X Link](https://x.com/Lexico/status/1980867939357323463) [@Lexico](/creator/x/Lexico) 2025-10-22T05:24Z XXX followers, XXX engagements


"$MARA holds $5.6B in BTC while its market cap is $5.6B. Were literally buying one of the largest Bitcoin miners for the price of its BTC wallet. At $100k BTC the mining business AI/HPC expansion & energy infra come for free. EV/EBITDA 1"  
[X Link](https://x.com/Lexico/status/1980868144546848917) [@Lexico](/creator/x/Lexico) 2025-10-22T05:25Z XXX followers, XXX engagements


"$MARAs market cap value of its 52.5k BTC at $108k/BTC ($5.6B). That means the market is pricing the entire mining business at zero. With positive EBITDA $600M/yr $MARA is trading below X EV/EBITDA. In other words: the miner is free and the upside isnt priced in"  
[X Link](https://x.com/Lexico/status/1980868270136914129) [@Lexico](/creator/x/Lexico) 2025-10-22T05:26Z XXX followers, XXX engagements