Bitcoin
Bitcoin miners MARA and CleanSpark report combined $851 million quarterly losses
Two major public Bitcoin mining firms posted heavy losses driven by falling Bitcoin prices and non-cash valuation charges.
MARA Holdings and CleanSpark reported combined quarterly losses of $851 million on August 6, extending weakness across the sector of publicly listed Bitcoin miners. The losses stemmed largely from declining Bitcoin prices triggering significant non-cash valuation write-downs. Both firms are pursuing pivots toward artificial intelligence and data center infrastructure, joining rivals TeraWulf, Core Scientific, and Cipher in seeking alternative revenue streams from computing capacity.
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