MARA Holdings (NASDAQ:MARA) surged over 10% after announcing a joint venture with Starwood Digital Ventures to pivot mining sites toward AI infrastructure, despite reporting a $1.7 billion Q4 loss driven by Bitcoin (CRYPTO: BTC) writedowns.
MARA Reports $1.7 Billion Q4 Loss
The company reported a Q4 net loss of $1.7 billion compared to net income of $528.3 million a year earlier.
A $1.5 billion decline in the fair value of Bitcoin holdings wiped out operating gains as BTC dropped from $114,068 at the end of Q3 to $87,498 by December 31.
Revenue fell 6% to $202.3 million from $214.4 million in Q4 2024, driven by a 14% drop in the average price of Bitcoin mined during the quarter.
Full-year revenue grew 38% to $907.1 million, but the topline growth was overshadowed by the massive quarterly writedown.
MARA held 53,822 BTC valued at roughly $4.7 billion …