MARA Holdings, Inc. (NASDAQ:MARA) and CleanSpark, Inc. (NASDAQ:CLSK) shares are trading volatile on Friday amid worse-than-expected financial results on Thursday after the market closed.
What To Know: MARA reported a loss of $1.55 per share, missing the consensus estimate of a 4 cent-gain. In addition, it reported sales of $213.88 million, missing the consensus estimate of $221.64 million.
Furthermore, the company reported it mined 2,286 Bitcoin (CRYPTO: BTC) and purchased 340 Bitcoin. Additionally, the company’s energized hashrate (EH/s) increased 95% year-over-year.
CleanSpark reported a loss of 49 cents per share, missing the consensus estimate of an 8 cent-loss. The company also reported sales of $181.71 million, missing the consensus estimate of $190.95 million.
The company ended the quarter with $97 million in cash and $979.6 million in Bitcoin holdings. Its total mining assets were valued at $899.6 million.
“This was a quarter defined by discipline, scale, and continued strategic clarity,” said Zach Bradford, CleanSpark’s CEO.
“As other players shift direction or decelerate growth, CleanSpark has doubled down on being the only remaining pure-play, public bitcoin miner. We believe that focus matters now more than ever, and we remain on track to reach our 50 EH/s target during June, all while growing our bitcoin treasury, strengthening the balance sheet, and prioritizing long-term stockholder value.”
Price Action: At the time of publication, MARA shares are trading 2.43% higher at $14.66 and CleanSpark stock is trading 0.59% lower at $8.63, per data from Benzinga Pro.
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