MARA reported record revenue of $214.4 million in Q4 2024, a 37% increase, with annual revenue surging 69% to $656.4 million. The growth was driven by Bitcoin’s rally past $100,000 and a 25% rise in mining efficiency.
MARA (Nasdaq: MARA), a publicly traded Bitcoin miner, posted record sales of $214.4 million in Q4 2024, up 37% from $156.8 million in Q4 2023. The company made 69% more money in 2024 than it did in 2023, when it made $387.5 million.
In his Q4 message to shareholders, Fred Thiel, CEO of MARA, said that the company’s net income jumped 248% from $151.8 million in Q4 2023 to $528.3 million in Q4 2024.
The record-setting results of the Marathon happened at the same time as a rise in bitcoin (BTC), which made it the first cryptocurrency to reach $100,000 in value.
“We believe the second wave of AI is moving to inference on the edge, where trained LLMs are deployed to process requests, generate responses and interact with users. Unlike training, which was concentrated in a few hyperscaled data centers, inference will require distributed, low-latency and energy-efficient infrastructure closer to end users,”
Thiel wrote.
As a result of the rally, mining earnings went up after the event where they were cut in half. Along with Bitcoin’s rise, MARA improved its infrastructure. This caused the number of blocks won to rise by 25% in Q4 to 703, from 562 in the same quarter the previous year.
