MARA Holdings Slips as Bitcoin Drop Pressures $1.5B AI Power Gamble
MARA shares fell 7.4% to $12.30 as bitcoin dropped 3.3% to $79,222 on Friday. A consent deadline for Long Ridge Energy noteholders tied to MARA’s $1.5 billion acquisition expires at 5 p.m. MARA reported first-quarter revenue of $174.6 million, down 18% year-on-year, and a net loss of $1.3 billion, mostly from bitcoin fair-value losses.