MARA Holdings, CleanSpark post 20%-30% revenue declines in latest quarters

Bitcoin miners MARA Holdings and CleanSpark posted sharp revenue declines and net losses as mining profitability weakened, The Block reported. MARA Holdings recorded second-quarter revenue of $174.9 million, down 27% from a year earlier, while CleanSpark reported fiscal third-quarter revenue of $138.0 million, down 30.5%. MARA posted a net loss of $611.3 million, affected by digital asset valuation losses, and CleanSpark reported a net loss of $239.8 million. Against that backdrop, The Block said both companies continue to expand their high-performance computing and AI infrastructure businesses.