PANews reported on November 13, according to The Block, that the Bitcoin mining company MARA Holdings (formerly Marathon Digital) announced its Q3 financial results on Tuesday afternoon, with a loss of $0.34 per share, which aligns with market expectations according to MarketWatch data. Q3 sales were $131.6 million, below the expected $151.6 million, showing improvement compared to a net loss of $199.7 million in Q2.
As of October 31, MARA holds 26,747 BTC on its balance sheet, mined 2,070 BTC in Q3, and purchased 6,210 BTC, of which 4,144 BTC were bought using proceeds from a $300 million convertible senior note issuance at an average price of $59,500.
Last week, MARA announced that it mined 717 BTC in October, a 2% increase month-over-month, with hash rate rising to 40.2 EH/s. On Monday, the company announced the acquisition of two power plants in Ohio with a total generation capacity of 222 megawatts at a price of $270 per kilowatt.
