MARA misses revenue estimates, posts $611 million net loss in Q2
MARA Holdings (MARA) missed earnings estimates as large unrealized losses on its bitcoin BTC $85,265.22 holdings overshadowed modest growth in mining output in the second quarter.
Revenue came in at $174.9 million, below the $204 million consensus estimate, while it posted a net loss of $611 million. The company mined 2,422 BTC during the quarter, up 3% from a year ago, and increased its energized hashrate 22% to 70.3 EH/s.
Bitcoin held fell 29% from year-ago levels to 35,577 BTC.
Shares traded flat near around $10.60 following the report, after they slipped 5% during the regular session ahead of the earnings.
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