Bitcoin mining giant MARA releases fourth quarter financial report, laying out AI track

Odaily Planet Daily reported that Bitcoin mining company MARA Holdings achieved a record breaking revenue of $214.4 million in its fourth quarter financial report released on February 26, which was 16.5% higher than market expectations. The company successfully mined 18146 bitcoins, with a year-on-year increase in net revenue of 248% to $528.3 million. MARA indicates that it is focusing on the "second wave" in the field of AI. Unlike competitors who are eager to enter the AI training market, MARA has chosen a strategic wait-and-see approach and will focus on building AI inference infrastructure. The company plans to expand its data center to provide infrastructure support for AI and high-performance computing. As of the end of 2024, MARA holds 44893 bitcoins, becoming the second largest corporate bitcoin holder after Strategy. The company has launched a 25 MW micro data center project in Texas and North Dakota to reduce dependence on the power grid. After the announcement, MARA's stock price rose by 5.9% to $13.18 in after hours trading.