MARA just made som ebig announcement in case of Bitcoin mining, despite the challenges thrown its way.
The company caused quite a hype among investors posting record revenue and earnings in Q4 2024.
The Florida-based firm saw its revenue jump to $214.4 million, a 37% increase from the previous year, thanks largely to Bitcoin’s price growth.
The halving effect
You might remember the Bitcoin halving event in April, which cut the reward miners by half.
This meant MARA mined fewer Bitcoins, 2,492 in Q4 2024, down from 3,490 the year before, but they cleverly increased their total blocks won by 25%, and it shows from the numbers. They’re also showing they’re adapting well to the new circumstances.
MARA’s net income exploded by 248% to $528.3 million, with Bitcoin’s price rise contributing a cool $119.9 million.
Despite a drop in production, their earnings per share surprised everyone, coming in at $1.24 instead of the expected loss of $0.32 per share.
Pretty big difference, not gonna lie. This sent their stock up by 7.41% in after-hours trading.
Growing power
MARA’s mining power, or hashrate, grew by 115% to 53.2 EH/s. This was driven by strategic acquisitions and expanding energy capacity.
On the other hand, with great power comes great cost, energy and hosting expenses rose by 70% to $127.4 million. The direct energy cost per Bitcoin also increased to $28,801.
Holding strong with diamond hands
MARA didn’t sell any of its 44,893 Bitcoin in Q4, worth about $4.6 billion. The company is focused on being the lowest-cost producer, emphasizing efficiency and adaptability.
Meanwhile, others like Bitdeer are struggling, posting a painful loss and seeing their stock drop.
In a world where energy costs are rising and Bitcoin halving has shaken things up big time, MARA’s success is a good indicator to strategic planning and adaptability.
As the second-largest corporate holder of Bitcoin, they’re setting themselves apart from competitors.
Have you read it yet? Bitcoin could crash to $70K?
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