DeFi Daily News
Monday, June 9, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home DeFi Web 3

rewrite this title Bitcoin Miner MARA Posts Record Quarterly Revenue, Beating Estimates – Decrypt

Vismaya V by Vismaya V
February 27, 2025
in Web 3
0 0
0
rewrite this title Bitcoin Miner MARA Posts Record Quarterly Revenue, Beating Estimates – Decrypt
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

Bitcoin mining company MARA Holdings reported record revenue and earnings in Q4 2024, surpassing analysts’ expectations and the challenges presented by last year’s Bitcoin halving event.

The company posted a 37% increase in revenue, reaching $214.4 million, compared to $156.8 million in Q4 2023, owing to a 132% rise in the average price of Bitcoin mined, as per its fourth-quarter statement.

The Florida-based firm’s net income for the quarter grew by 248%, totaling $528.3 million, compared to $151.8 million in the same period last year. 

While Bitcoin’s price increase contributed a hefty $119.9 million to the total, the company still faced a $64.2 million drop in revenue due to decreased Bitcoin production, which was heavily impacted by the April halving event.

The Bitcoin halving effectively slashed the reward miners receive from solving the computational puzzle inherent in proof-of-work networks by 50%, from 6.250 BTC to just 3.125 BTC per block.

As a result, MARA mined 2,492 BTC in Q4 2024, down 27% from the 3,490 BTC produced in the same quarter in 2023.

However, despite the decline in production, MARA was able to increase its total blocks won by 25%, achieving 703 blocks in Q4 2024 compared to 562 in Q4 2023.

Earnings per share also far exceeded expectations, coming in at $1.24, a significant uplift compared to analysts’ forecast of a loss of $0.32 per share, as per Market Beat data.

The EPS result marked a significant earnings surprise, with MARA’s stock climbing by 7.41% to $13.38 in after-hours trading, Google Finance data shows.

MARA’s hashrate grew 115% to 53.2 EH/s in Q4 2024, up from 24.7 EH/s in Q4 2023, driven by strategic acquisitions and energy capacity expansion.

Energy hashrates measure the computational power used in mining, typically in exahashes per second (EH/s), determining the rate of transaction processing and network security.

MARA’s energy and hosting costs also rose sharply by 70%, totaling $127.4 million in Q4 2024, compared to $75.1 million in Q4 2023. 

The company’s direct energy cost per Bitcoin for its owned mining sites increased to $28,801, up from $23,000 in the previous year, reflecting the challenges of scaling operations while maintaining profitability.

MARA reported a 62% BTC yield per share for 2024 and did not sell any Bitcoin out of its total holding of 44,893 BTC, worth $4.6 billion, in Q4.

The second-largest corporate holder of Bitcoin is taking proactive steps to differentiate itself from its competitors.

“Our focus is not just on Bitcoin mining but on being the lowest-cost producer in an environment where efficiency and adaptability are paramount,” MARA Chairman and CEO Fred Thiel wrote in the annual shareholder letter.

While MARA comes forward with a strategic push, other miners are struggling to cope with rising energy costs and the impact of Bitcoin’s halving event. 

Those challenges are reflected in Bitdeer’s recent performance, as the Singapore-based miner disclosed a significant fourth-quarter loss of $532 million. Despite its efforts to develop proprietary mining chips, Bitdeer’s stock took a hit, dropping 20% following the announcement.

Edited by Sebastian Sinclair

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: BeatingBitcoinDecryptestimatesMaraMinerpostsQuarterlyRecordRevenuerewritetitle
ShareTweetShare
Previous Post

rewrite this title Triple H has chosen a surprising “genius” for a huge role on WWE SmackDown, reveals Hall of Famer; congratulates him

Next Post

rewrite this title WWE was trying to hurt AJ Styles and embarrass him, says Hall of Famer; points out how they did it (Exclusive)

Next Post
rewrite this title WWE was trying to hurt AJ Styles and embarrass him, says Hall of Famer; points out how they did it (Exclusive)

rewrite this title WWE was trying to hurt AJ Styles and embarrass him, says Hall of Famer; points out how they did it (Exclusive)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
Protecting Yourself from Scams by Third-Party Sellers – NerdWallet

Protecting Yourself from Scams by Third-Party Sellers – NerdWallet

July 16, 2024
Tech companies are interested in nuclear power, but some utilities are blocking their progress.

Tech companies are interested in nuclear power, but some utilities are blocking their progress.

August 10, 2024
rewrite this title All 20 Premier League clubs ranked by their 2024/25 wage bill

rewrite this title All 20 Premier League clubs ranked by their 2024/25 wage bill

February 8, 2025
rewrite this title with good SEO Michael Saylor Explains Why Microsoft Should Buy Bitcoin

rewrite this title with good SEO Michael Saylor Explains Why Microsoft Should Buy Bitcoin

May 6, 2025
Top 5 Superior Ethereum Faucets to Earn Free ETH in 2024

Top 5 Superior Ethereum Faucets to Earn Free ETH in 2024

July 16, 2024
Crypto Analyst Reveals Six ‘Super-Cycle’ Tokens Set to Surge by 1000x in Value

Crypto Analyst Reveals Six ‘Super-Cycle’ Tokens Set to Surge by 1000x in Value

August 16, 2024
rewrite this title iOS 26 is giving the iPhone’s Camera app an upgrade I’ve been waiting years for

rewrite this title iOS 26 is giving the iPhone’s Camera app an upgrade I’ve been waiting years for

June 9, 2025
rewrite this title National Iced Tea Day Freebies 2025

rewrite this title National Iced Tea Day Freebies 2025

June 9, 2025
Should I Tell My Wife That We’re Secretly Wealthy?

Should I Tell My Wife That We’re Secretly Wealthy?

June 9, 2025
rewrite this title and make it good for SEO Leading Crypto to Buy? BlockDAG Courts the NBA While INJ, TIA, & SUI Build Momentum

rewrite this title and make it good for SEO Leading Crypto to Buy? BlockDAG Courts the NBA While INJ, TIA, & SUI Build Momentum

June 9, 2025
rewrite this title Official Trailer for Comedy ‘Oh, Hi!’ with Molly Gordon & Logan Lerman | FirstShowing.net

rewrite this title Official Trailer for Comedy ‘Oh, Hi!’ with Molly Gordon & Logan Lerman | FirstShowing.net

June 9, 2025
rewrite this title and make it good for SEOTrump’s memo activating the National Guard doesn’t specify LA. It could apply anywhere and preemptively, legal expert says

rewrite this title and make it good for SEOTrump’s memo activating the National Guard doesn’t specify LA. It could apply anywhere and preemptively, legal expert says

June 9, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.