Crypto Mine Mara Holdings Posts 533 million Q1, despite the Bitcoin Holdings record

On Thursday, Mara Holdings informed the Bitcoin mine of a net loss of $ 533 million for the first quarter of this year, although Bitcoin collected at a record pace and increased revenues on an annual basis.

Company Q1 profits She reported a 30 % jump in revenue to 214 million dollars, with Bitcoin’s swelling of property to 47,531 BTC, an increase of 174 % from 17320 BTC only a year ago.

However, the company’s results have erred in Wall Street’s expectations. The net income loss expanded to $ 533 million (at $ 1.55 per share) from $ 337 million (from $ 1.26 per share) in the previous year.

“We are a growth company, but not at any cost,” CEO Farid Thil wrote in A. letter For shareholders. “Our goal is not an arbitrary chase [Exahash] number.”

The end result? Great success to the end result, though three times the bitcoin possessions.

Meanwhile, Bitcoin production decreased by 19 % on an annual basis to 2,286 BTC in Q1 2025, mainly due to Bitcoin half Last year Reducing mining bonuses.

However, Mara believes that Bitcoin’s potential is “the safest total hedge in unconfirmed environments.” This is more important as Mara seeks to convert itself into an “digital energy company and an integrated infrastructure”.

Decipher I arrived at Mara Holdings for more comment.

Paper losses

The huge quarterly quarterly loss from MARA stems mainly from a negative adjustment of $ 510 million on the fair value of her bitcoin pregnant women, as the ALPHA Chrpto price decreased from 93,354 dollars to 82,534 dollars during the quarter.

Curd accounting standards It was also approved in 2023 how Mara reported Bitcoin’s holdings.

Instead of using the previous intelligence model, the company is now Sizes The assets of encryption in the fair market value at the end of each submission period, with changes that flow directly through its net income. As a result, exciting paper losses were created although these non -cash drawings.

The company maintains a strong liquidity in the amount of $ 196 million in cash and about $ 4.1 billion of cash assets and digital assets combined from the end of the first quarter, Unified public budget He appears.

“We believe that maintaining the steadfastness of our strategy will lead, at the appropriate time, to create more value for our shareholders,” Thil wrote.

Edit Sebastian Senkler