Catenaa, Thursday, February 27, 2025-Bitcoin miner MARA Holdings, formerly Marathon Digital, reported a 69% increase in full-year revenue to $656.4 million , with fourth-quarter sales of $214.4 million, exceeding expectations.
Despite the revenue surge, MARA’s annual bitcoin production fell 27% to 9,430 BTC.
The company holds 44,893 bitcoin as of Dec. 31, 2024, and achieved a 62% BTC yield per share.
CEO Fred Thiel emphasized MARA’s shift beyond crypto mining , focusing on AI infrastructure and energy management to drive future growth. “We’re proud of our transformation. But we’re far from done,” he said in a shareholder letter.
MARA’s energized hash rate rose 115% year over year to 53.2 EH/s. The company aims to enhance infrastructure for scalable AI inference and edge computing technologies.
The bitcoin halving event in April 2024 cut miners’ block rewards in half, prompting firms like MARA to diversify revenue streams. Competitors Riot Platforms and Cipher Mining have faced profitability challenges, with Riot posting a 34.2% revenue gain but lower BTC output.
MARA’s stock closed at $12.45 , rising 3.2% in after-hours trading. However, it remains down 57% over the past year.
