In brief
- MARA reported a substantial $533 million net loss largely due to Bitcoin valuation adjustments.
- Revenue grew 30% year-over-year to $214 million but still missed expectations.
- Its mining output fell 19% despite doubling its hashrate after the 2024 Bitcoin halving, which slashed block rewards.
On Thursday, Bitcoin miner MARA Holdings reported a staggering $533 million net loss for the first quarter this year, despite amassing Bitcoin at a record pace and steadily growing its year-over-year revenue.
The company’s Q1 earnings reported a 30% jump in revenue to $214 million, with its Bitcoin holdings ballooning to 47,531 BTC, a 174% increase from just 17,320 BTC a year ago.
Still, the company’s results missed Wall Street’s…
Jun 28 2025
