According to the newly published results, Q1, the Bitcoin Mara Holdings (Mara) mining company almost tripled its Bitcoin Holdings.
However, his Bitcoin production fell, and the total earnings slightly overlooked Wall Street estimates in Q1.
Mara, before Marathon Digital, saw Bitcoin (BTC) farm Height to 47,531 BTC, which is 175% compared to 17 320 BTC, which the company organized at the end of Q1 2024.
Mara Holdings con caat closer to USD 5 billion after a bitcoin pump
Mara has a second largest amount of bitcoins among all listed companies, According to For Coingecko data. Strategy (MST) has first place with 555 450 bitcoins.
The shares constitute a total value of approximately USD 4.9 billion, based on the current Bitcoin price of USD 102,660 at the time of publication, According to For Coinmarketcap data. Over the past 24 hours, the Bitcoin price has increased by 4.86%.
However, the amount of bitcoins, which Mara produced during the quarter, fell by 19% compared to the same quarter in 2024 to 2286 Bitcoins.
Mara attributed this to the last incident by half the Bitcoins, which reduced mining prizes to 3.125 BTC per block and tightened the overall supply.
Mara did not meet the expectations of analysts by 0.35%, According to for researching Zacks. Analysts pointed out that Mara has exceeded the respect of consensus revenues only once in the last four quarters.
Despite this, the price of Mary’s shares increased by 7.2% during the trade on May 8, but since then it withdrew almost 2% in trade after hours, According to For data from Google Finance.
Bitcoin mining companies have the same frustrations
Bitcoin Miner Riot Platforms repeated similar difficulties in the recent financial report Q1.
Riot said that the average cost of Bitcoins mining during the quarter was USD 43,808, almost 90% more than USD 23,034 USD costing for Bitcoins in the same period last year. However, Riot overcame estimates with an income value of USD 159.8 million by 1%.
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Several other Bitcoin mining companies also did not meet the expectations of Wall Street revenues.
Bitcoin Miner Cleanspark omitted Consensus estimates by 0.58%, reporting quarterly revenues in the amount of USD 181.71 million.
Bitcoin Miner Core Scientific also did not meet the expectations of analysts, and the total revenue from the quarter reached $ 79.5 million, lacking Zacks analysts ” estimates by 8.11% and falling from USD 179.3 million revenues in Q4 2024.
Meanwhile, Bitcoin Miner Hut8 reported the widest mission among Bitcoin mining companies, without meeting the expectations of Wall Street.
Zacks had research prohibited Hut8 to obtain revenues in the first quarter of $ 35 million, but Hut8 brought a much lower one of only $ 21 million.
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