MARA Q2 money don increase 64% reach $238M because of Bitcoin profit and AI deals
MARA Holdings report say Q2 revenue na $238 million, wey dem gain 64% compared to last year, e come from Bitcoin price go up and their Bitcoin mining work. The result pass analyst dem estimate wey be $223.7 million. Their net income jump high to $808 million from $198 million loss, e come because of $1.2 billion unrealized Bitcoin gains as Bitcoin price climb 31% for the quarter. Dem mine 2,358 BTC, wey increase 3% from last quarter, and dem raise their hash rate to 57.4 EH/s. Their Bitcoin treasury don reach almost 50,000 BTC, make MARA be the second biggest public Bitcoin holder after MicroStrategy. Their shares rise 7.5% for after market trading. MARA come also talk say dem get AI infrastructure partnership with TAE Power Solutions and PADO AI. These deals go help balance energy load and increase their Bitcoin mining capacity to 75 EH/s by the end of the year. CEO Fred Thiel talk say vertical integration, big Bitcoin treasury, and early AI investments na the main things wey dey drive the growth of their Bitcoin mining business.
Bullish
MARA strong perform for Q2, wey dem take big unrealized gains as Bitcoin climb 31% plus 64% more revenue from better mining work dem dey do, e talk say demand for Bitcoin mining sector good well well. The company wan increase hash rate to 75 EH/s by end of year through AI-powered partnerships show say production fit grow more. These moves fit help Bitcoin price as e go make network secure well and show say institutions believe am. For short term, the better earnings surprise plus AI infrastructure deals fit ginger traders mind, and for long term, bigger mining power plus plenty Bitcoin treasury fit hold network grow steady plus price support.