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Yahoo
2 minutes ago
- Yahoo
MARA Holdings Inc (MARA) Q2 2025 Earnings Call Highlights: Record Revenue and Strategic Growth ...
Revenue: Increased 64% to $238.5 million from $145.1 million in Q2 2024. Net Income: Reported $808.2 million or $1.84 per diluted share, compared to a net loss of $199.7 million or $0.72 per diluted share in Q2 2024. Bitcoin Holdings: Surged by over 170% to nearly 50,000 BTC from approximately 18,500 BTC year-over-year. Energized Hashrate: Expanded by 82% from 31.5 exahash per second to 57.4 exahash per second. Market Value of Bitcoin Holdings: Increased by more than $4.2 billion or 362% year-over-year. Gain on Digital Assets: Recorded a $1.2 billion gain on digital assets, including BTC receivable. Purchased Energy Cost per Bitcoin: $33,735 per coin. Convertible Senior Notes: Issued $950 million of 0% convertible senior notes due 2032. Liquid Assets: Held over $5 billion as of June 30, 2025. Daily Bitcoin Production: Produced an average of 25.9 BTC each day during Q2. Warning! GuruFocus has detected 9 Warning Signs with MARA. Release Date: July 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points MARA Holdings Inc (NASDAQ:MARA) achieved record-breaking financial performance in Q2 2025, with revenues increasing by 64% to $238.5 million, marking the highest revenue quarter in the company's history. The company expanded its bitcoin holdings by over 170% year-over-year, reaching nearly 50,000 bitcoin, making it the second largest corporate public holder of bitcoin globally. MARA Holdings Inc (NASDAQ:MARA) completed the construction of a new behind-the-meter data center at a wind-powered site in Texas, improving its margin structure and boosting energy efficiency. The company announced strategic partnerships with TAE Power Solutions and Pato AI to develop grid-responsive load balancing platforms, enhancing its AI infrastructure capabilities. MARA Holdings Inc (NASDAQ:MARA) issued $950 million of 0% convertible senior notes, significantly bolstering its balance sheet and providing flexibility for strategic priorities, including bitcoin purchases and M&A. Negative Points The current bitcoin market is perceived as frothy, with potential downward pressure if buying demand subsides, which could impact MARA Holdings Inc (NASDAQ:MARA)'s bitcoin holdings. The company faces challenges in transitioning to high-performance computing (HPC) due to increased competition and the need for partnerships with energy companies. MARA Holdings Inc (NASDAQ:MARA) acknowledges the risk of bitcoin price volatility, which could affect its financial performance and strategy. The company's asset-light strategy has led to higher costs compared to peers, although efforts are underway to reduce these costs through asset-heavy strategies. There is a concern about the sustainability of bitcoin treasury companies, with potential market impacts if these companies face challenges or fail. Q & A Highlights Q: Can you provide an update on MARA's current thinking around bitcoin mining versus high-performance computing (HPC)? A: Frederick Thiel, Chairman and CEO, explained that while some competitors are shifting towards HPC, MARA remains focused on bitcoin mining. However, they are also exploring opportunities at the intersection of AI and sovereign data, partnering with governments and energy companies to leverage their energy assets for future growth. Q: What is MARA's strategy regarding international expansion, particularly in regions like Saudi Arabia and France? A: Frederick Thiel stated that MARA is focusing on partnerships with energy companies and governments in regions with high demand for sovereign data and AI. This approach allows MARA to provide data sovereignty and leverage local energy resources, enhancing their competitive edge. Q: How does MARA view the current market for bitcoin treasury companies, and how does it differentiate itself? A: Frederick Thiel expressed concerns about the frothiness in the market with many new bitcoin treasury companies emerging. MARA differentiates itself by actively managing its bitcoin holdings to generate returns and support operations, rather than simply holding bitcoin as a passive asset. Q: Can you elaborate on MARA's bitcoin asset management strategy and its partnership with Two Prime? A: Salman Khan, CFO, explained that MARA actively manages about a third of its bitcoin holdings to generate yield and cash flows. The partnership with Two Prime involves deploying bitcoin in various strategies, including covered calls and trading, to maximize returns while managing risk. Q: What impact will the GENIUS Act have on MARA's bitcoin mining operations? A: Frederick Thiel noted that the GENIUS Act, by integrating stablecoins with traditional finance, will increase liquidity and potentially boost bitcoin trading volumes. This could lead to more capital flowing into bitcoin, benefiting MARA's operations. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Bloomberg
4 minutes ago
- Bloomberg
Bursa Malaysia Berhad CEO on Sustainability Priorities
Fauziah Marzuki, Strategic Lead, BloombergNEF examines how global trends such as geopolitical tensions and growing data center power demand are shaping Asia's energy transition outlook at the 2025 Bloomberg Sustainable Business Summit in Singapore. (Source: Bloomberg)
Bloomberg
34 minutes ago
- Bloomberg
NBA Champion Launches African Sports Development
Masai Ujiri officially unveiled the flagship 'Zaria Court' - a $26 million mixed-use development in Kigali, Rwanda. Ujiri believes the opening provides a blueprint for a new era of sports-anchored real estate investment on the continent. On the sidelines of his 'Giants of Africa' festival, he spoke with Bloomberg TV's Jennifer Zabasajja about his ambitions for African sports and how he plans to achieve them. (Source: Bloomberg)
