Bitcoin's mining firm Mara Holdings (Mara) has almost tripled its handling in Bitcoin for 12 months, according to the newly released Q1 results.
However, its bitcoin production fell, and the total revenue partially missed the estimates on Wall Street in Q1.
Mara, former marathon digital, saw its bitcoin (btc) Handles Increase to 47,531 BTC, up to 175% from 17,320 BTC the firm is held at the end of Q1 2024.
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Mara holds the second largest Bitcoin's second largest amount to all companies exchanged publicly, According to in coingecko data. The approach (MSTR) holds the number one place with 555,450 bitcoin.
Handles represent a total amount of approximately $ 4.9 billion, based on the current bitcoin price of $ 102,660 at the time of publication, According to In CoinMarketCap data. Over the past 24 hours, the price of Bitcoin has won 4.86%.
However, the amount of Bitcoin Mara made in the quarter fell 19% compared to the same quarter in 2024 to 2,286 Bitcoin.
Mara revealed this at the final event in dividing Bitcoin, which reduced mining rewards to 3.125 BTC per block and tight overall supply.
Mara is not short of analyst revenue expectations by 0.35%, According to In Zacks Research. Analysts pointed out that Mara has only exceeded the consensus estimates of the consensus once in the past four quarters.
Despite this, Mara's stock price According to In data from Google Finance.
Bitcoin mining companies share the same failures
Bitcoin Miner riot platforms boast similar difficulties in their recent Q1 financial reports.
Riot said the average cost of bitcoin mine in the quarter was $ 43,808, nearly 90% more than $ 23,034 Bitcoin mine costs at the same time last year. However, Riot defeated a $ 159.8 million estimate of the income agreed of 1%.
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Many other Bitcoin mining companies have also fallen into Wall Street revenue expectations.
Bitcoin Miner Cleanspark Namiss Agreement estimates of 0.58%, reporting quarterly income of $ 181.71 million.
Bitcoin Miner Core Scientific also fell in analyst expectations with a total Q1 revenue of up to $ 79.5 million, missing Zacks 'analysts' Estimates by 8.11% and falling from $ 179.3 million income for Q1 2024.
Meanwhile, Bitcoin Miner Hut8 reported the widest miss in Bitcoin mining companies, dropping 35% short in expectations on Wall Street.
Zacks Research is expected Hut8 to post a first-quarter income of $ 35 million, but the Hut8 has come to just $ 21 million.
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