Two prominent companies, MARA Holdings and Genius Group, have adopted new Bitcoin-related strategies to strengthen their market positions. MARA Holdings increased its Bitcoin reserves despite a stock decline following weak quarterly results, while Genius Group announced a new treasury strategy focused on Bitcoin.
MARA Holdings Financial Results
MARA Holdings Inc. reported a 9.1% slide in after-hours trading following a quarterly earnings report that missed analyst expectations. Despite a revenue increase to $131.6 million, the company suffered a $124.8 million loss for the quarter due to rising operational costs. Amid these challenges, MARA increased its Bitcoin holdings by 45% to 26,747 BTC, equivalent to approximately $2.36 billion.
Infrastructure and Hashrate Investments
MARA Holdings announced securing an additional 372 megawatts of capacity at its Ohio facility. Revenue generation from these investments typically takes 12-18 months. The company focuses on increasing its hash rate, which saw a 17.1% rise in the third quarter to 37 exahashes per second, allowing for additional Bitcoin blocks to be mined.
Genius Group's Bitcoin-First Strategy
Genius Group Limited unveiled its strategy to allocate 90% or more of its reserves in Bitcoin. This decision led to a 66% increase in its stock price. The company also plans to introduce blockchain-oriented educational programs to strengthen its position in EdTech and the crypto industry.
The strategic decisions by MARA Holdings and Genius Group reflect growing interest and trust in Bitcoin as an asset. These shifts are part of broader efforts to solidify their positions in the industry despite market fluctuations and financial challenges.
