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Mara Holdings Stock Dips After Worse-Than-Expected Q1 Report - MARA Holdings (NASDAQ:MARA)

  • Core Scientific Inc. Reported Q1 2025 results on May 7, showing a $580 million net profit with $79.5 million total revenue, but missed analyst revenue estimates.
  • The revenue decline and reduced Bitcoin mined stemmed from the April 20, 2024 halving and the firm's shift toward HPC hosting primarily used for AI workloads.
  • Core Scientific finalized a $1.2 billion agreement with AI company CoreWeave to grow its data center capacity and projects generating $360 million in annualized colocation revenue by 2026.
  • CEO Adam Sullivan described the quarter as a pivotal moment that places the company at the forefront of a major transformation in modern computing.
  • These results reflect challenges from Bitcoin halving impacts balanced by growth in AI-focused infrastructure and reduced power costs, indicating strategic industry repositioning.
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Cointelegraph broke the news in on Thursday, May 8, 2025.
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