Odaily Planet Daily report: Bitcoin mining companies MARA Holdings and CleanSpark have released their latest quarterly financial results, with both companies reporting double-digit year-over-year declines in revenue. MARA's second-quarter revenue was $174.9 million, a 27% decline year-over-year; CleanSpark's third fiscal quarter revenue was $138 million, a 30.5% decline year-over-year.
Despite financial pressures, both companies continue to expand their high-performance computing (HPC) and AI infrastructure businesses. As the AI industry grows and Bitcoin mining difficulty increases, both firms are investing resources to scale their HPC operations. MARA plans to expand its AI computing capacity through acquisitions of power and data center assets, with its future power portfolio potentially reaching 4.8 GW; CleanSpark reports that it currently controls over 1.8 GW of power, land, and data center resources.
As of now, MARA holds approximately 35,577 BTC, and CleanSpark holds approximately 13,924 BTC, ranking fourth and eleventh, respectively, among publicly traded companies by Bitcoin holdings. (The Block)