Mala Holdings’ Two key indicators of Bitcoin productivity – win 6% per month in February, making Bitcoin production a bitcoin production, Bitcoin miners said in a press release Tuesday.
Mara’s decline is attributed to an increase in network difficulty and three less days in February operating in three months than in the previous month.
Mara’s shares closed at $13.94, up 1.3%, despite lingering in the one-day territory. According to Yahoo Finance, Mara has fallen by nearly 21% over the past month. This is a 10% decline in the Bitcoin market and the broader crypto market.
Last week, the Florida-based company said it generated its fourth quarter revenue. Approximately 27%, or 998, fewer blocks Even if they beat analysts’ expectations for revenue and earnings per share, they’re still in comparison to the same period last year compared to the previous quarter. These results occurred when Bitcoin was still rising.
More competition, less reward
However, the brewing trade war and other macroeconomic uncertainties that the unstable crypto market has spread through the mining sector.
In April last year, a pre-programmed update to the Bitcoin Network code led to a half of the number of tokens awarded to miners in each block, reducing mining profitability. Meanwhile, rising energy costs presented additional challenges, Mara’s energy and hosting costs also rose 70%, totaling $127.4 million in the fourth quarter of 2024, to $75.1 million in the fourth quarter of 2023.
In a statement, Mara said it is approaching completion of Ohio’s 40-megawatt data centre, where it will install more than 10,000 S21 Pro Immersion Miners and expand its “footprint in energy generation.”
Cryptocurrency Miner Bit Digital’s Bitcoin production fell to around 165 tokens in the last quarter of 2024. This is down 59% from the annual quarter. meanwhile, Bitdeer Technologies Group won $69 million in fourth quarter revenue compared to $115 million the previous year.
BitDigital and BitDia rose 4.3% and 0.5% on Tuesday, respectively. Company stocks have fallen to 26% and 32% over the past month.
Bitcoin has recently traded over $87,300, up over 1% over the past 24 hours, according to Coingecko, a data provider at Crypto Markets.
Edited by James Rubin
