MARA Holdings, CleanSpark Report Steep Revenue Declines as Bitcoin Mining Margins Shrink

BitcoinWorld MARA Holdings, CleanSpark Report Steep Revenue Declines as Bitcoin Mining Margins Shrink Bitcoin mining firms MARA Holdings and CleanSpark both reported sharp revenue declines and net losses in their latest quarterly earnings, underscoring the mounting profitability pressure across the crypto mining sector as network difficulty rises and digital asset prices remain volatile.

Quarterly Results at a Glance MARA Holdings recorded second-quarter revenue of $174.9 million, down 27% from the same period last year. The company posted a net loss of $611.3 million, which it attributed largely to digital asset valuation losses.

CleanSpark, meanwhile, reported fiscal third-quarter revenue of $138.0 million, a 30.5% decrease year-over-year, alongside a net loss of $239.8 million.

Both companies have been expanding their high-performance computing (HPC) and artificial intelligence (AI) infrastructure businesses, a strategic pivot aimed at diversifying revenue streams beyond traditional bitcoin mining. The Block first reported the earnings figures.