MARA Holdings says Bitcoin mining remains the company’s “operational foundation” while it moves to expand into AI.
Shares in MARA Holdings fell after the bell on Monday as the Bitcoin miner’s first-quarter losses deepened from a year ago and its revenue missed analyst estimates.
MARA reported first-quarter revenue of $174.6 million for the quarter ending March 31, down 18% year over year and below Wall Street expectations of $192.7 million.
The company reported a loss of $1.3 billion for the quarter, widening from its $533.4 million loss from the year-ago quarter. Its earnings per share were a loss of $3.31, compared to estimates of a loss of $2.20.
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