MARA’s Bitcoin mining revenue hit records

-

MARA just made som ebig announcement in case of Bitcoin mining, despite the challenges thrown its way.

The company caused quite a hype among investors posting record revenue and earnings in Q4 2024.

The Florida-based firm saw its revenue jump to $214.4 million, a 37% increase from the previous year, thanks largely to Bitcoin’s price growth.

The halving effect

You might remember the Bitcoin halving event in April, which cut the reward miners by half.

This meant MARA mined fewer Bitcoins, 2,492 in Q4 2024, down from 3,490 the year before, but they cleverly increased their total blocks won by 25%, and it shows from the numbers. They’re also showing they’re adapting well to the new circumstances.

MARA’s net income exploded by 248% to $528.3 million, with Bitcoin’s price rise contributing a cool $119.9 million.

Despite a drop in production, their earnings per share surprised everyone, coming in at $1.24 instead of the expected loss of $0.32 per share.

Pretty big difference, not gonna lie. This sent their stock up by 7.41% in after-hours trading.

Growing power

MARA’s mining power, or hashrate, grew by 115% to 53.2 EH/s. This was driven by strategic acquisitions and expanding energy capacity.

On the other hand, with great power comes great cost, energy and hosting expenses rose by 70% to $127.4 million. The direct energy cost per Bitcoin also increased to $28,801.

Holding strong with diamond hands

MARA didn’t sell any of its 44,893 Bitcoin in Q4, worth about $4.6 billion. The company is focused on being the lowest-cost producer, emphasizing efficiency and adaptability.

Meanwhile, others like Bitdeer are struggling, posting a painful loss and seeing their stock drop.

In a world where energy costs are rising and Bitcoin halving has shaken things up big time, MARA’s success is a good indicator to strategic planning and adaptability.

As the second-largest corporate holder of Bitcoin, they’re setting themselves apart from competitors.

Have you read it yet? Bitcoin could crash to $70K?

Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.

LATEST POSTS

Will history repeat itself with a Q2 Bitcoin revival?

Bitcoin's been on a wild ride lately, and it's anyone's guess what's next. As it tries to reclaim the $84,000 level, some analysts are drawing...

Is Peter Schiff right this time, and it’s over for Bitcoin?

The eternal Bitcoin skeptic, Peter Schiff, is at it again. This time, he's questioning whether Bitcoin is truly the digital gold everyone claims it to...

Government’s Bitcoin moves spark volatility

Listen up, the crypto community is abuzz once again, and this time it's all about the U.S. government making some big moves with Bitcoin. They've...

If you wanna mining Bitcoin at home, Canaan’s new Avalon Q Brings the noise (or lack of it)

The world of Bitcoin mining just got a little quieter. But this is a good news. Canaan has rolled out a new gadget that promises...

Most Popular

Guest posts