Markets· ★★★· bearish·

MARA mined 2,422 BTC in Q2 but revenue fell 27%

  • —Output rose, but revenue fell to $174.9 million on lower BTC prices
  • —Net loss of $611.3 million, with $343 million from bitcoin revaluation
  • —BTC holdings shrank 29% to 35,577 coins; no purchases during the quarter
  • —Raised $600 million backed by 18,750 BTC to fund energy infrastructure
Why it matters: The results show miners' pivot to AI infrastructure has yet to generate revenue, leaving the business exposed to bitcoin prices.
#BTC
Source: DiarioBitcoin
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