MARA Q3 financial report: Bitcoin holdings increased to 26,747, and a total of 2,070 BTC were produced in Q3

Bitcoin mining company MARA Holdings (formerly Marathon Digital) released its third-quarter financial report on Tuesday afternoon, with a quarterly loss of $0.34 per share, in line with market expectations according to MarketWatch data. Q3 revenue was $131.6 million, lower than the expected $151.6 million, but an improvement compared to a net loss of $199.7 million in Q2.

As of October 31st, MARA held 26,747 BTC on its balance sheet, with a total output of 2,070 BTC and a purchase of 6,210 BTC in Q3. Of these, 4,144 were bought using proceeds from the issuance of $300 million in convertible preferred stock, at an average price of $59,500. Last week, MARA announced that it had produced 717 BTC in October, a 2% increase from the previous month, with hash power rising to 40.2 EH/s. On Monday, the company announced the acquisition of two Ohio power plants with a total generating capacity of 222 MW at a price of $270 per kilowatt.