MARA Holdings 1Q revenue falls 18%, says BTC mining remains core

Bitcoin mining firm MARA Holdings (MARA) reported first-quarter revenue of $174.6 million, an 18% decrease from the same period last year, The Block reported. The company's net loss for the period widened to $1.3 billion, reflecting an unrealized valuation loss on its 38,689 BTC holdings. In a letter to shareholders, the company stated that Bitcoin mining remains the foundation of its operations and that it will maintain the business as its core focus, unlike some of its competitors.