MARA Holdings Reports Q1 2025 Growth: Doubles Hashrate, Boosts Bitcoin Holdings to $3.9B
MARA Holdings, Inc., a leading digital energy and infrastructure company, has reported significant developments in its operations and financial performance for Q1 2025. The company, led by CEO Frederick G. Thiel, saw a substantial increase in its bitcoin holdings and expanded its data center capabilities.
MARA's Ohio data center has been bolstered with the addition of 50 MW and 12,000 new miners, demonstrating the company's commitment to growth and increased computational power. This expansion has contributed to a near doubling of MARA's energized hashrate, which reached 54.3 EH/s in Q1 2025, up from 27.8 EH/s in the same period last year.
The company's mining operations have been productive, with MARA mining 2,286 bitcoin and purchasing an additional 340 in Q1 2025. This has led to a significant year-over-year increase in bitcoin holdings, surging from 17,320 bitcoin to 47,531 bitcoin, valued at approximately $3.9 billion as of March 31, 2025.
MARA's revenue has also seen a notable increase, rising by 30% to $213.9 million in Q1 2025 compared to the same period in 2024. Despite this, the company posted a net loss of $533.4 million, primarily due to a $510.2 million loss in the fair value of bitcoin. MARA's cost per petahash per day has improved by 25% to $28.5 in Q1 2025, indicating enhanced operational efficiency.
In line with its commitment to sustainability, MARA has deployed bitcoin mining operations in North Dakota and Texas, reducing emissions equivalent to 14,200 gasoline-powered vehicles. Additionally, the company has acquired a 114 MW wind farm in Texas with low fixed energy costs of around $10/MWh. MARA is also developing proprietary immersion cooling systems and next-gen ASICs through its stake in chipmaker Auradine, further demonstrating its innovative approach to digital energy infrastructure.
MARA Holdings, Inc. has shown significant growth and expansion in its data center capabilities, bitcoin holdings, and revenue. Despite a net loss primarily due to bitcoin's fair value loss, the company's operational efficiency has improved. MARA's commitment to sustainability and innovation, as seen in its bitcoin mining operations and wind farm acquisition, positions it well for the future in the digital energy and infrastructure sector.
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