MARA Reports Lower Q3 Revenue, Increases Bitcoin Holdings and Expands Mining Capacity ⛏️
#MARA Holdings, formerly Marathon Digital, missed Q3 revenue estimates with $131.6 million in sales, below the expected $151.6 million. Despite a net loss of $0.34 per share, MARA increased its bitcoin reserves to 26,747 BTC by #mining 2,070 BTC and purchasing 6,210 BTC.
The company expanded its mining capacity by acquiring two Ohio sites, totaling 222 MW, as it contends with record-high bitcoin mining difficulty. CEO Fred Thiel anticipates that #AI integration will be essential for future mining success. MARA’s stock saw a sharp 42% increase over five sessions, closing at $25.23, up 10% year-to-date.
If you enjoy my content, feel free to tip me ❤️
