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Iris Coleman Feb 26, 2025 14:05
MARA Holdings, Inc. announces record-high revenue and net income for Q4 and full year 2024, driven by strategic energy transformation initiatives.
MARA Holdings, Inc. (NASDAQ: MARA), a prominent player in the digital asset space, has announced record-breaking financial outcomes for the fourth quarter and the full year of 2024, according to a recent shareholder letter. The company attributed its success to strategic initiatives aimed at leveraging digital asset compute to support energy transformation.
Financial Highlights
MARA reported unprecedented revenue, net income, and adjusted EBITDA for the year, marking a significant milestone in its financial performance. The company achieved a direct energy cost of $28.8K per bitcoin for 2024 from its owned sites, reflecting efficiency improvements in its operations.
Moreover, MARA's BTC yield per share reached an impressive 62.9% for the year, underscoring the effectiveness of its cost management strategies and energy utilization.
Strategic Initiatives
In its pursuit of sustainability, MARA has been focusing on converting clean, stranded, or underutilized energy into economic value. This approach not only supports the energy shift but also strengthens MARA's position as a leader in securing blockchain ledgers globally.
The company continues to innovate in developing technologies that contribute to a more sustainable and inclusive future, aligning with broader industry trends towards green energy solutions.
Conference Call and Webcast
To discuss these financial results, MARA will host a webcast and conference call on February 26, 2025, at 5:00 p.m. Eastern Time. Investors interested in participating can register via the company's website. The webcast will be available for replay in the investor relations section of MARA's site.
Industry Context
The digital asset industry has seen significant shifts as companies like MARA increasingly focus on sustainable practices. By integrating energy-efficient measures, firms are not only enhancing profitability but also contributing to environmental goals.
As the demand for digital assets grows, MARA's strategic focus on energy transformation could serve as a model for other companies in the sector, potentially influencing industry standards and practices.
For more details, visit the official MARA Holdings, Inc. [source].
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