MARA Holdings concluded Q4 2024 with significant revenue growth, despite the challenges in the cryptocurrency market.
MARA's Financial Achievements in 2024
MARA Holdings reported a net income of $528.3 million for Q4 2024, a 248% increase from the previous year. Adjusted EBITDA rose by 207% to $794.4 million, establishing a new industry benchmark.
Bitcoin Mining Success and Infrastructure Development
Despite the April 2024 Bitcoin halving, MARA mined 2,492 Bitcoins, a 25% year-over-year increase in blocks won. The company grew its Bitcoin holdings by 197% to 44,893 BTC. MARA secured 1.2 gigawatts of power at 28% lower costs than the industry average and increased its ownership of data centers from 0% to 70% since early 2024.
Diversification and Future for MARA Holdings
MARA is diversifying its revenue sources by expanding into AI and data infrastructure leveraging energy assets. In 2024, the company raised $850 million through a private issuance of zero-coupon convertible senior notes due 2031.
The year 2024 was highly successful for MARA Holdings despite challenges such as changes in block rewards and rising energy costs. The company plans to continue its business expansion and diversification.
