The post Bitcoin Mining Firms Show Mixed Revenue Growth in Q1 2025 appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) mining and energy infrastructure firms MARA Holdings, CleanSpark, and Hut 8 have released their financial reports for the first quarter of 2025. MARA and CleanSpark’s reports highlighted significant revenue growth despite substantial net losses.  The former saw a 30% year-over-year revenue increase, while CleanSpark’s revenue surged by 62.5%. However, Hut 8’s revenue declined by 58.1%. MARA and CleanSpark Report Strong Revenue Growth Amid Net Losses In their latest shareholder letter, MARA Holdings revealed that its Q1 2025 revenue reached $213.9 million, up from $165.2 million in Q1 2024. The revenue growth was driven by a 77% increase in the average Bitcoin price, despite a 21.8 million decrease in Bitcoin production due to the halving event.  Furthermore, the company’s Bitcoin holdings expanded dramatically to 47,531. This marked a 174% increase from the previous year. The holdings were valued at approximately $3.9 billion.  “We produced an average of 25.4 BTC each day during the quarter compared to 30.9 BTC each day in the prior year period, which resulted in 525 less BTC in the first quarter of 2025 as compared to the prior year period. Despite lower production, we saw an 81% increase in number of blocks won,” the letter read. The company’s net loss was $533.4 million. This represented a 258% decrease in income, primarily attributed to a decline in Bitcoin prices at the quarter’s end. MARA is currently focused on transforming itself into a vertically integrated digital energy and infrastructure company. The company is prioritizing strategic growth by expanding its operations with low-cost energy solutions and efficient capital deployment, including investments in renewable energy sources like a 114 MW wind farm in Texas. “MARA is investing in and developing digital energy technologies, which can both improve the efficiency of our operations and diversify our revenue streams. From chips…

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Filed under: News - @ May 9, 2025 6:24 am