Pre-market movers: MARA and Block rally while CoreWeave tumbles on margin pressure
CoinDesk
MARA and Block saw significant pre-market gains, while CoreWeave dropped due to margin and guidance concerns.Summary
In pre-market trading, MARA Holdings surged 16% after announcing a deal with Starwood Capital to convert mining facilities into AI data centers, aiming for over 2.5 gigawatts of capacity. Block rose 20% following news of laying off over 40% of its workforce, though investors also considered long-term margin pressure from stablecoin payments. Conversely, CoreWeave shares fell 12% despite beating revenue expectations, as the company issued weaker-than-forecasted Q1 revenue guidance and reported higher capital expenditures, raising profitability concerns. TerraWulf traded 3.5% lower after Q4 revenue declined due to lower bitcoin production, though executives highlighted growth in contracted high-performance computing revenue.
(Source：CoinDesk)