MARA Holdings Reports Record Revenue and Earnings Despite Bitcoin Halving Challenges

The Bitcoin mining firm saw a 37% revenue increase in Q4 2024, driven by higher Bitcoin prices and operational expansions, while maintaining its commitment to U.S.-based mining.

• MARA Holdings achieved $214.4 million in Q4 2024 revenue, up 37% year-over-year, despite a 27% decline in Bitcoin production following the April halving event.
• Net income surged 248% to $528.3 million, with earnings per share of $1.24 significantly exceeding analysts' expectations of a $0.32 loss.
• The company mined 2,492 Bitcoin in Q4 and increased its total blocks won by 25%, while maintaining a total holding of 44,893 BTC, valued at $4.6 billion.
• MARA's hashrate grew 115% to 53.2 EH/s, supported by strategic acquisitions and energy capacity expansions, though energy and hosting costs rose by 70%.
• CEO Fred Thiel emphasized MARA's focus on U.S.-based Bitcoin mining, labeling each block as 'made in USA,' and highlighted future ambitions in AI and cost-effective compute infrastructure.

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