bitcoin mining company mara increases holdings - MARA Reports $214M in Q1 Revenue, Grows Bitcoin Holdings to 47,531 BTC
MARA Holdings, Inc. (NASDAQ: MARA) has reported first quarter 2025 earnings, announcing $213.9 million in revenue—a 30% increase from Q1 2024—as the company continues its transformation into a digital energy and infrastructure powerhouse.
“Revenues increased 30% to $213.9 million in Q1 2025 from $165.2 million in Q1 2024,” the company shared in its shareholder letter. MARA’s bitcoin holdings surged by 174% year-over-year, rising from 17,320 BTC to 47,531 BTC, now valued around $3.9 billion as of March 31, 2025.
Despite the revenue boost, MARA posted a net loss of $533.4 million, primarily due to a $510.2 million loss in the fair value of bitcoin as it ended the quarter at $82,534. “Although we recognized a loss in Q1… the current bitcoin price of approximately $100,000 would imply a substantial fair value gain,” the company noted.
MARA mined 2,286 BTC and purchased 340 more in Q1. Its energized hashrate nearly doubled from 27.8 EH/s in Q1 2024 to 54.3 EH/s, while cost per petahash per day improved 25% to $28.5.
The company is pushing forward on its two strategic priorities: “(1) strategically growing by shifting our model toward low-cost energy with more efficient capital deployment, and (2) bringing to market a full suite of solutions for data centers and edge inference—including energy management, load balancing, and advanced cooling.”
Highlights from the quarter include:
- Acquisition of a 114 MW wind farm in Texas with low fixed energy costs (~$10/MWh).
- Deployment of gas-to-power operations in North Dakota and Texas, reducing emissions by the equivalent of 14,200 gasoline-powered vehicles.
- Expansion of its Ohio data center, adding 50 MW and 12,000 new miners.
- Continued development of proprietary immersion cooling systems (2PIC) and next-gen ASICs through its stake in chipmaker Auradine.
MARA will host a webcast and earnings call at 5:00 p.m. ET on May 8, 2025. Shareholders can register via this link.
This detailed match analysis covers key moments, player performances, and tactical insights.
?? Key Statistics
Possession: 55% - 45%
Shots on target: 6 - 3
Pass accuracy: 88% - 82%
Corners: 5 - 2
?? Player Ratings
- Home MVP: John Doe (9.2)
- Away MVP: James Smith (8.7)
??? Post-Match Analysis
The manager praised the team's resilience after coming from behind. "We showed great character," he said.
This win moves them to the top of the league table with 45 points.
Final whistle analysis: The tactical shift in the second half proved decisive.