MARA Holdings Reports Q1 2025 Bitcoin Mining Surge, Boosts Renewable Energy Initiatives
MARA Holdings, Inc. (NASDAQ: MARA) has reported significant developments in its cryptocurrency mining operations and renewable energy initiatives for Q1 2025. The company mined 2,286 BTC and purchased an additional 340, bringing its total holdings to 47,531 BTC, valued at approximately $3.9 billion.
MARA's bitcoin holdings surged by 174% year-over-year, driven by increased mining activities and strategic purchases. The company's net loss in Q1 2025 was primarily attributed to a $510.2 million loss in the fair value of bitcoin, reflecting market volatility.
Revenue for the quarter reached $213.9 million, marking a 30% increase from Q1 2024. MARA's energized hashrate nearly doubled to 54.3 EH/s, with a 25% improvement in cost per petahash per day to $28.5. This growth was supported by the expansion of its Ohio data center, adding 50 MW and 12,000 new miners.
In its pursuit of sustainable energy, MARA deployed gas-to-power operations in North Dakota and Texas, reducing emissions by the equivalent of 14,200 gasoline-powered vehicles. The company also acquired a 114 MW wind farm in Texas with low fixed energy costs, further diversifying its renewable energy portfolio.
MARA will host a webcast and earnings call at 5:00 p.m. ET on May 8, 2025, to discuss these developments and its ongoing initiatives, including the development of proprietary immersion cooling systems and next-gen ASICs through its stake in Auradine. Despite market fluctuations, MARA continues to demonstrate growth and commitment to sustainable energy practices in the cryptocurrency mining sector.
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