Bitcoin’s rising value offset the company’s declining revenue
MARA Holdings reported a profit of $632.1 million for the third quarter. Bitcoin’s rising value offset the company’s declining revenue.
Crypto Briefing notes that the result underscores MARA Holdings’ dependence on Bitcoin’s market value and the associated risk of volatility.
The company is pursuing diversification that could make future financial results more stable.
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The Defiant reports that miner MARA sold 13,597 BTC and repaid $750 million in debt. The company also approved a $500 million share buyback. However, two planned data center lease agreements could be postponed until 2027.
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