TechFlow News, April 3: According to Blockspace, MARA (NASDAQ: MARA), one of the world’s largest Bitcoin mining companies, has laid off approximately 15% of its workforce, including full-time employees across multiple departments and some contractors. In an internal memo, CEO Fred Thiel stated that this layoff is not solely a financial decision but part of the company’s strategic transformation from a pure Bitcoin mining operation into an energy and digital infrastructure company.
Earlier this year, in February, MARA completed its acquisition of a majority stake in Exaion, a subsidiary of French national energy company EDF, officially entering the AI and high-performance computing (HPC) sectors. MARA has also entered into an agreement with data center developer Starwood to repurpose roughly 1 GW of its Bitcoin mining infrastructure for AI workloads.
In addition, MARA recently sold over 15,133 BTC (approximately $1.1 billion) to repay a $1 billion convertible bond. The company reported a net loss of $1.3 billion for the full year 2025, with adjusted EBITDA at -$330.8 million. Affected employees will receive one month of paid leave, 13 weeks of severance pay, and full compensation for unused vacation days.
