"MARA Holdings reported that its purchased energy cost per Bitcoin rose from $32,433 to $39,235, reflecting a global hashrate that climbed 66% year-over-year, making each bitcoin harder and more expensive to mine."
"MARA Holdings does have a genuine diversification story in progress, with a planned acquisition of a roughly 64% stake in Exaion, signaling a push toward lower-cost, internationally diversified energy."
"The goal is to reach 50% of revenue from international operations by 2028, reducing the company's dependence on volatile domestic energy markets."
MARA Holdings and Riot Platforms are experiencing stock declines due to increased energy costs and doubts about their AI strategies. MARA's stock has fallen 31% over the past year and 80% over five years. The company's energy costs per Bitcoin have risen significantly, exacerbated by geopolitical tensions. MARA is pursuing diversification through an acquisition of Exaion and a joint initiative with MPLX to develop data centers. The aim is to achieve 50% of revenue from international operations by 2028, reducing reliance on domestic energy markets.
Read at 24/7 Wall St.
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