MARA Holdings announced plans to capitalize on the 'second wave' of AI amid strong Q4 2024 financial results.
MARA's AI Strategy
MARA aims to become the base layer of infrastructure for AI and high-performance computing applications. The company states it will provide the necessary tools for implementing new systems and services such as energy management and load balancing.
Q4 Financial Results
MARA reported record revenues of $214.4 million in the fourth quarter, exceeding consensus estimates by 16.5%. The net income reached $528.3 million, marking a 248% increase year-over-year, with adjusted EBITDA rising 207% to $794.4 million.
Bitcoin Mining Achievements
MARA increased its Bitcoin production by 25% year-on-year, mining a total of 2,492 BTC, and continues to grow its reserves, which reached 44,893 BTC by the end of 2024. The company's hash rate increased by 115% to 53.2 exahashes per second.
MARA Holdings is confidently advancing its strategies in AI and Bitcoin mining, as evidenced by their financial success and mining capacity expansion.
