Bitcoin Minor Mara Holdings (MARA) shares jumped about 4% in market trading, the company defeated Wall Street’s expectations after posting record revenue for its second quarter.
Mara reported an increase of $ 238.5 million in the same quarter a year ago, an increase of 64% from $ 145.1 million, according to A Earning presentationThe mining firm stated that the growth was mainly due to an increase of 50% in the average bitcoin value during the quarter. According to factset data, Mara’s revenue also defeated an average analyst estimate of $ 227.9 million.
The company mined 2,358 bitcoins in the quarter, increased by 3% from the previous quarter. Energated hasht or mining machines that are currently online have increased by 6% to 57.4 EH/s. Mara is aiming to reach 75 EH/s by the end of this year.
Minery, which began to buy bitcoins in the open market, currently has about 50,000 BTC on its balance sheet, which makes it publicly publicly traded company after strategy (MSTR) to keep bitcoins in its treasure. At the current spot price of $ 117,618, holdings will cost around $ 6 billion.
However, unlike many other bitcoin treasury companies, the firm said it does not just place BTC on its balance sheet; Rather, it actively manages them. It has about 31% or 15,550 bitcoin loans, actively managed or pledged as a collateral as part of its treasury management.
“We are more than a bitcoin Treasury Company,” Mara said in the letter. “And because we are the operators, not only the holders, we see bitcoin as a productive property. We actively deploy parts of our holdings to increase returns and strengthen our long -term capital status,” said this.
