{"id":375988,"date":"2025-02-27T11:41:11","date_gmt":"2025-02-27T06:11:11","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-miner-mara-posts-record-quarterly-revenue-beating-estimates-crypto-news\/"},"modified":"2025-02-27T11:46:18","modified_gmt":"2025-02-27T06:16:18","slug":"bitcoin-miner-mara-posts-record-quarterly-revenue-beating-estimates-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-miner-mara-posts-record-quarterly-revenue-beating-estimates-crypto-news\/","title":{"rendered":"Bitcoin Miner MARA Posts Record Quarterly Revenue, Beating Estimates – Crypto News"},"content":{"rendered":"
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Bitcoin mining company MARA Holdings reported record revenue and earnings in Q4 2024, surpassing analysts’ expectations and the challenges presented by last year\u2019s Bitcoin halving event.<\/span><\/p>\n

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

The Florida-based firm\u2019s net income for the quarter grew by 248%, totaling $528.3 million, compared to $151.8 million in the same period last year.\u00a0<\/span><\/p>\n

While Bitcoin\u2019s 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.<\/span><\/p>\n

The <\/span>Bitcoin halving<\/span><\/a> 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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

Earnings per share also far exceeded expectations, coming in at $1.24, a significant uplift compared to analysts\u2019 forecast of a loss of $0.32 per share, as per Market Beat <\/span>data<\/span><\/a>.<\/span><\/p>\n

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 <\/span>data<\/span><\/a> shows.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

MARA\u2019s energy and hosting costs also rose sharply by 70%, totaling $127.4 million in Q4 2024, compared to $75.1 million in Q4 2023.\u00a0<\/span><\/p>\n

The company\u2019s 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.<\/span><\/p>\n

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.<\/span><\/p>\n

The second-largest <\/span>corporate holder<\/span><\/a> of Bitcoin is taking proactive steps to differentiate itself from its competitors. <\/span><\/p>\n

\u201cOur focus is not just on Bitcoin mining but on being the lowest-cost producer in an environment where efficiency and adaptability are paramount,\u201d MARA Chairman and CEO Fred Thiel wrote in the annual shareholder letter.<\/span><\/p>\n

While MARA comes forward with a strategic push, other miners are struggling to cope with rising energy costs and the impact of Bitcoin\u2019s halving event.\u00a0<\/span><\/p>\n

Those challenges are reflected in Bitdeer\u2019s recent performance, as the Singapore-based miner <\/span>disclosed<\/span><\/a> a significant fourth-quarter loss of $532 million. Despite its efforts to develop proprietary mining chips, Bitdeer\u2019s stock took a hit, dropping 20% following the announcement.<\/span><\/p>\n

Edited by Sebastian Sinclair<\/a><\/i><\/p>\n

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Bitcoin mining company MARA Holdings reported record revenue and earnings in Q4 2024, surpassing analysts’ expectations and the challenges presented by last year\u2019s 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 […]<\/p>\n","protected":false},"author":2,"featured_media":375989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-375988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/375988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=375988"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/375988\/revisions"}],"predecessor-version":[{"id":375990,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/375988\/revisions\/375990"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/375989"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=375988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=375988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=375988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}