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TechFlow News, May 12: According to The Block, MARA’s Q1 revenue declined 18% year-on-year. The company stated that Bitcoin mining remains its “operational foundation.” During the quarter, MARA sold approximately $1.5 billion worth of Bitcoin to repay debt and improve liquidity. Meanwhile, the company indicated it does not expect to pursue large-scale ASIC miner purchases going forward.
According to The Block, MARA’s revenue for the first quarter of this year declined 18% year-on-year. The company stated that Bitcoin mining remains its “operational foundation.” During the period, MARA sold approximately $1.5 billion worth of Bitcoin to repay debt and improve liquidity. Meanwhile, the company indicated it does not expect to pursue large-scale ASIC miner purchases going forward.
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