$MARA (-0.94%) 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
