MARA misses on earnings, sending stock down
MARA Holdings, the second-largest corporate bitcoin holder after Strategy reported earnings today, missed analyst estimates. The stock dipped 3% in after-hours trading.
The bitcoin mining company reported revenue of $214 million, a 30% year-over-year increase but below the consensus estimate of $216 million.
MARA reported adjusted losses per share of $1.44, which was far worse than the consensus estimate of $0.13.
Bitcoin holdings increased 174% year over year to 47,531 from 17,320 at the end of Q1 2024. In April, MARA increased its bitcoin holdings to 48,237 bitcoin.
“Although we recognized a loss in Q1 based on a quarter end bitcoin price of $82,534, the current bitcoin price of approximately $100,000 would imply a substantial fair value gain in excess of the fair market value loss recognized in Q1 2025,” the company said in its shareholder letter.
The bitcoin mining company reported revenue of $214 million, a 30% year-over-year increase but below the consensus estimate of $216 million.
MARA reported adjusted losses per share of $1.44, which was far worse than the consensus estimate of $0.13.
Bitcoin holdings increased 174% year over year to 47,531 from 17,320 at the end of Q1 2024. In April, MARA increased its bitcoin holdings to 48,237 bitcoin.
“Although we recognized a loss in Q1 based on a quarter end bitcoin price of $82,534, the current bitcoin price of approximately $100,000 would imply a substantial fair value gain in excess of the fair market value loss recognized in Q1 2025,” the company said in its shareholder letter.
