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Guavy AI Editorial Team••Sentiment: -4•Clout: 60

Bitcoin Mining Stocks Sink Amid Declining Crypto Prices

BTC

Bitcoin mining companies MARA Holdings and CleanSpark have released their latest quarterly results, revealing significant losses tied to the decline in Bitcoin prices.

MARA Holdings reported a net loss of $1.3 billion for the quarter, compared to a $533.4 million loss a year earlier. The company's revenue fell 18% year over year to $174.6 million.

Meanwhile, CleanSpark recorded a net loss of $378.3 million for its fiscal second quarter, marking a 173% increase from $138.8 million a year earlier. The company's revenue fell 24.9% year over year to $136.4 million.