MARA Q1 loss don pass $1.3B as Bitcoin drawdown jam their BTC holdings

MARA report say im weaker than wetin dem expect for Q1, cause di stock to drop for after‑hours trading. Revenue drop 18% YoY to $174.6M (vs $192.7M wey dem expect). Net loss widen to about $1.3B and EPS show -$3.31 vs -$2.20 wey dem expect. Di money wahala come mainly from unrealized losses on dia Bitcoin treasury. MARA get 38,689 BTC and Bitcoin fall like 23% during di quarter, wey push down asset valuations. Dem also sell over 15,100 BTC for di last week of March. Mining still di core business, but MARA dey pivot to AI and high‑performance computing (HPC) infrastructure to diversify from di volatile mining economics. Dem plan convert some mining capacity to AI/HPC data centers and colocate AI near existing operations for flexibility. MARA talk say dem no plan to buy more Bitcoin mining hardware, meanwhile dem dey expand AI through partnerships (including Starwood) and $1.5B acquisition of Long Ridge Energy & Power, fit support up to 600MW of AI compute. For crypto traders, near‑term watch things na MARA‑linked selling pressure (BTC treasury moves) and whether di AI/HPC buildout fit reduce sensitivity to Bitcoin price swings.