MARA Q1 revenue drops 18%, says bitcoin mining remains ‘operational foundation’
The Block
MARA reported an 18% revenue decline in Q1 but maintains bitcoin mining as its core foundation while expanding into AI infrastructure.Summary
MARA’s Q1 revenue fell 18% to $174.6 million, with net losses reaching $1.3 billion largely due to unrealized bitcoin asset losses. Despite market trends, the firm reaffirmed bitcoin mining as its "operational foundation" while strategically pivoting toward AI and digital infrastructure. Moving forward, the company plans to focus on more selective hardware purchases and leveraging its power assets, such as the Long Ridge energy site, to support high-performance computing alongside its mining operations.
(Source：The Block)