Mara Holdings Reports Record Profits in Q3, Driven by Bitcoin Surge

Mara Holdings has surpassed expectations, reporting record profits for the third quarter, with earnings soaring to $123 million. This impressive achievement is attributed to both rising Bitcoin prices and a strategic focus on operational efficiency. The company’s revenue surged 92%, reaching $252 million, marking a dramatic turnaround from its previous year of losses. This success is further bolstered by increased computing power (64% jump) and reduced electricity costs. During the third quarter alone, Mara Holdings mined an impressive 2,144 Bitcoins and currently holds 53,250 Bitcoins, holding a market value of approximately $5.6 billion at today’s prices.