Crypto Market News
07/30 10:04
Bitcoin Miner MARA Beats Q2 Estimates with $238M R
Bitcoin Miner MARA Beats Q2 Estimates with $238M Revenue Surge
Net income soared to $808 million, reversing a loss of nearly $200 million in the same quarter last year.
Bitcoin mining giant MARA Holdings reported second-quarter earnings that comfortably beat Wall Street expectations, delivering $238 million in revenue, up 64% year-over-year and above analysts’ forecast of $223.7 million.
Key Takeaways:
- MARA beat Q2 estimates with $238M in revenue and $808M in net income.
- Its BTC holdings hit 50,000+, worth $5.87B, making MARA the second-largest public Bitcoin holder.
- The company is expanding into AI infrastructure via partnerships.
Net income soared to $808 million, reversing a loss of nearly $200 million in the same quarter last year, the company announced in a Tuesday press release.
The jump was driven largely by a $1.2 billion unrealized gain from Bitcoin appreciation, as the asset surged 31% during the three months ending June 30.
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