MARA Holdings Stock Jumps As $1.5 Billion Bitcoin Sale Puts AI Bet In Focus
MARA shares rose 5.8% to $13.49 in midday Nasdaq trading Thursday after the company sold 20,880 bitcoin in Q1, cutting holdings to 35,303 BTC. Quarterly revenue fell 18% to $174.6 million, with net loss widening to $1.26 billion on lower bitcoin prices. MARA plans a $1.5 billion acquisition of Long Ridge Energy & Power to expand into AI and high-performance computing.