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 experiencing double-digit year-over-year revenue declines. Specifically, MARA's Q2 revenue was $174.9 million, down 27% year-over-year; CleanSpark's fiscal Q3 revenue was $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 segments. As the AI industry grows and Bitcoin mining difficulty continues to rise, both companies are investing resources to expand their HPC business lines. MARA stated that it will expand its AI computing capabilities through the acquisition of power and data center assets, with its future power portfolio potentially reaching 4.8 GW. CleanSpark, meanwhile, stated that it currently controls over 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 terms of Bitcoin holdings. (The Block)