Bitcoin miner MARA announces AI initiatives alongside record Q4 results
Bitcoin mining giant MARA Holdings is gearing up to capitalize on the “second wave” of AI, following a strategic pause during the initial rush. After posting stellar Q4 2024 results, the company now aims to become the infrastructure backbone for AI and high-performance computing — much like Cisco’s pivotal role during the internet boom.
In its Feb. 26 earnings report, MARA stated that while competitors quickly dove into AI during its early stages, the firm took time to observe and strategically position itself for what comes next. “The biggest opportunities often emerge in the second wave, not from those who jumped in first, but from those who carefully assessed the landscape,” MARA explained.
The company believes the future lies in AI inferencing — where trained AI models generate conclusions in real time — rather than just training models. MARA aims to power this shift, providing critical infrastructure for energy management, load balancing, and scalable systems.
Surging Financial and Operational Performance
MARA’s Q4 revenue soared to $214.4 million, surpassing analyst expectations of $183.9 million by 16.5%. Net income surged 248% year-over-year to $528.3 million, while adjusted EBITDA climbed 207% to $794.4 million.
The firm mined 2,492 Bitcoin in Q4, boosting its annual block wins by 25% to 703. Following its new policy to hold all mined BTC, MARA also purchased an additional 14,574 BTC — bringing its total stash to 44,893 BTC by year-end. This solidified MARA as the second-largest corporate Bitcoin holder, just behind Strategy, according to BitBo’s BitcoinTreasuries.NET data.
Hashrate and Facility Expansion
MARA ramped up its energized hashrate to 53.2 EH/s in Q4, a 115% year-over-year increase, fueled by a 300% boost in energy capacity. The company expanded its operations to seven mining facilities and launched 25-megawatt micro data centers in Texas and North Dakota to reduce reliance on grid power.
Market Reaction and Outlook
Following the earnings announcement, MARA’s stock jumped 5.9% in after-hours trading to $13.18, before settling at $12.89. It closed the Feb. 26 session up 0.28% at $12.45, according to Google Finance.
With its robust performance and strategic pivot toward AI infrastructure, MARA appears well-positioned to lead the next chapter of both Bitcoin mining and the evolving AI landscape.
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