$MARA (+3.54%) MARA Holdings reported earnings

Q3 FY2024 results ended September 30th 2024

- Revenue: $131.6M, +35% YoY

- Net loss: $124.8M ($0.42/share) vs loss of $0.4M ($0.34/share) in Q3 2023

- Adjusted EBITDA: $21.8M vs -$21.3M in Q3 2023

- Cash & Bitcoin holdings: $1.9B at quarter end

Bitcoin Production & Holdings:

- BTC mined: 2,070 vs 3,490 in Q3 2023

- Average daily production: 22.5 BTC

- Total BTC holdings: 26,747 (+45% QoQ)

- Acquired 6,210 BTC during quarter, including 4,144 at $59,500/BTC

- Mining cost basis: 20,266 BTC at $42,805/BTC

- Purchased cost basis: 6,481 BTC at $60,022/BTC

Operational Metrics:

- Energized hash rate: 36.9 EH/s, +93% YoY

- Blocks won: 604, +32% QoQ

- Network share: 4.8% of available miner rewards

- Daily cost per petahash: $37.1, -18% YoY

- Operating fleet: ~268,000 miners

Business highlights:

- Added 372MW mining capacity in Ohio

- Launched 25MW micro data center using flared gas

- Secured first external orders for immersion cooling tanks

- Became first public miner to submit CDP climate disclosure

- Added two new board members with AI/data center expertise

Guidance:

- Target of 50 EH/s by end of 2024

- Focused on expanding owned & operated sites

- Strategy to achieve near-zero cost energy production

- Goal of 50% international operations by 2028