MARA Holdings, a crypto mining firm, reported a 64% increase in Q2 revenues, reaching $238 million compared to $145 million in Q2 2024, exceeding analysts' expectations of $223.7 million. The significant revenue growth was supported by Bitcoin appreciation and expanded mining operations. Net income rose dramatically by 505%, resulting in an income of $808 million, driven by a $1.2 billion unrealized gain from Bitcoin. The asset appreciated by 31% in the quarter. Post-earnings, MARA's shares experienced a 7.5% spike in after-hours trading but closed at $16.61 after a decline during the day. Notably, MARA's Bitcoin holdings surpassed 50,000 BTC, ranking it as the second-largest corporate holder of Bitcoin. During Q2, the firm mined 2,358 BTC, up from 2,286 in the previous quarter. Aside from mining, MARA announced partnerships with TAE Power Solutions and PADO AI, aiming for grid-responsive infrastructures as they target a mining capacity of 75 EH/s by year-end, further venturing into AI growth.

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