MARA Holdings, Inc. (NASDAQ: MARA) recently released their first quarter 2025 earnings report, showcasing impressive growth and transformation in the digital energy and infrastructure sector. The company reported a revenue of $213.9 million, marking a significant 30% increase from the same period in 2024.
One of the standout achievements for MARA in Q1 2025 was the substantial growth in their bitcoin holdings, which surged by 174% year-over-year. The company now holds a total of 47,531 BTC, valued at approximately $3.9 billion as of March 31, 2025. Despite this positive development, MARA also posted a net loss of $533.4 million, largely attributed to a $510.2 million loss in the fair value of bitcoin. However, the company remains optimistic, noting that the current bitcoin price of around $100,000 indicates a potential fair value gain in the near future.
During the first quarter, MARA mined 2,286 BTC and acquired an additional 340 BTC through purchases. The company’s energized hashrate nearly doubled from 27.8 EH/s in Q1 2024 to 54.3 EH/s, while their cost per petahash per day improved by 25% to $28.5.
MARA is actively pursuing two strategic priorities to drive growth and innovation. Firstly, they are focusing on shifting their model towards low-cost energy with more efficient capital deployment. Secondly, they are working on bringing a comprehensive suite of solutions for data centers and edge inference to the market, including energy management, load balancing, and advanced cooling technologies.
Key highlights from the quarter include the acquisition of a 114 MW wind farm in Texas with low fixed energy costs, the deployment of gas-to-power operations in North Dakota and Texas to reduce emissions, the expansion of their Ohio data center by adding 50 MW and 12,000 new miners, and the ongoing development of proprietary immersion cooling systems (2PIC) and next-gen ASICs through their stake in chipmaker Auradine.
MARA will be hosting a webcast and earnings call on May 8, 2025, at 5:00 p.m. ET. Shareholders can register for the event through the provided link to stay updated on the company’s progress and future plans for growth and innovation in the digital energy and infrastructure sector.