Bitcoin mining companies MARA and CleanSpark report double-digit year-over-year revenue declines in Q2

Odaily Planet Daily News Bitcoin mining companies MARA Holdings and CleanSpark have released their latest quarterly earnings reports, with both companies seeing double-digit year-over-year revenue declines. MARA reported Q2 revenue of $174.9 million, down 27% year-over-year, while CleanSpark reported fiscal Q3 revenue of $138 million, down 30.5% year-over-year.

Despite the earnings pressure, both companies continue to expand their high-performance computing (HPC) and AI infrastructure business lines. As the AI industry grows and Bitcoin mining difficulty continues to rise, both companies are investing resources to expand their HPC business segments. MARA stated that it will expand its AI computing capacity through the acquisition of power and data center assets, with its future power portfolio potentially reaching 4.8 GW. CleanSpark, meanwhile, said it currently controls more than 1.8 GW of power, land, and data center resources.

As of now, MARA holds approximately 35,577 BTC, while CleanSpark holds approximately 13,924 BTC, ranking fourth and eleventh respectively among publicly traded companies in Bitcoin holdings. (The Block)