1Mes·

MARA Holdings reported earnings Q4 FY2024 results ended on December 31, 2024

$MARA (+0,69%)


- Revenue: $214.4M, +37% YoY; Full year revenue $656.4M, +69% YoY

- Net income: $528.3M, +248% YoY; Full year net income $541.0M, +107% YoY

- Adjusted EBITDA: $794.4M, +207% YoY; Full year Adjusted EBITDA $1.2B vs $417.1M


CEO: "2024 was a transformative year for MARA. We accelerated our transition to a vertically integrated energy and digital infrastructure company. That we now have greater control over our energy, infrastructure, technology, and ultimately, our future."


🌱Revenue & Growth

- BTC production: 2,492 BTC in Q4, -41% YoY

- Average BTC per day: 27.1 vs 46.1 in Q4 2023

- Energized hashrate: 53.2 EH/s, +115% YoY

- Share of available miner rewards: 5.6% vs 4.4% YoY


💰Profits & Financials

- Direct energy cost per bitcoin: $28,801 for owned sites in 2024

- Cost per petahash per day: $35.1 vs $42.3 in Q4 2023

- BTC holdings: 44,893 BTC (+197% YoY), valued at ~$4.6B

- Cash and equivalents: $391.8M vs $357.3M in Q4 2023


📌Business Highlights

- Secured ~1.2 GW capacity at prices 28% lower than peers

- Increased owned data center portfolio from 0% to ~70%

- Deployed first owned power generating assets with 136 MW capacity


🔮Future Outlook

- Focusing on three key themes: Generate, Activate, and Differentiate

- Expanding beyond bitcoin mining into AI infrastructure

- Developing turnkey AI-at-the-edge immersion systems with 30 MW deployment target

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