Mara Holdings Stock Dips After Worse-Than-Expected Q1 Report

Mara Holdings, Inc. MARA released its first-quarter results after Thursday’s closing bell. Here’s a look at the key figures in the report. 

The Details: Mara reported quarterly losses of $1.55 per share, which missed the analyst consensus estimate of losses of four cents. Quarterly revenue came in at $213.88 million, which missed the Street estimate of $221.64 million.

Read Next: Thursday’s Top 5 Trending Stocks: What’s Going On With D-Wave, Novavax, Carvana?

For the first quarter, Mara reported:

• Mined 2,286 Bitcoin and purchased 340 Bitcoin.
• Purchased energy cost per Bitcoin: $35,728 and cost per kWh: four cents.
• Total blocks won increased 81% year-over-year to 666.
• Energized hashrate (EH/s) increased 95% year-over-year.
• Cost/petahash per day improved by 25% year-over-year.

“While we remain focused on Bitcoin mining, our infrastructure is already aligned with the next wave of compute demand, which we extensively covered in our prior letter. We’re positioning MARA to support AI inference workloads — which require low latency, have unpredictable energy demands, and are spread out geographically — and we are in advanced discussions with several compute OEMs to roll out pilot deployments this year. We believe our immersion-cooled, modular data centers are well-suited to address the needs of this emerging trend,” Mara CEO Fred Thiel wrote in a letter to shareholders.

MARA Price Action: According to data from Benzinga Pro, Mara stock was down 1.68% at $14.05 after-hours Thursday.  

Read Next: 

Image: Shutterstock