MARA Holdings announces Q4 2024 financial results, with revenue increasing 37% year-on-year

The bitcoin mining company MARA Holdings released its Q4 financial report for 2024, with a quarterly revenue of $214.4 million, a year-on-year increase of 37%, and an annual revenue of $656.4 million, a year-on-year increase of 69%. Net profit increased by 248% year-on-year to $528.3 million, and annual net profit increased by 107% to $541 million.

• Direct energy cost is $28,801 per bitcoin, and cost per kilowatt-hour is $0.039.

• Total hash rate increased by 115% year-on-year to 53.2 EH/s.

• Bitcoin holdings increased by 197% to 44,893 BTC (approximately $4.6 billion), with 10,374 BTC being lent out or used as loan collateral.

• Mined a total of 2,492 BTC in Q4, and purchased 15,574 BTC through zero-interest convertible senior notes.

• The company did not sell any bitcoin in Q4.