MARA Holdings Inc (NASDAQ:MARA) shares are rising in extended trading on Thursday after the company reported fourth-quarter results and announced an agreement to convert facilities into digital infrastructure sites.
- MARA Holdings shares are powering higher. Why is MARA stock up today?
MARA Misses Estimates In Q4
MARA Holdings reported fourth-quarter revenue of $202.3 million, missing analyst estimates of $257.46 million, according to Benzinga Pro. The Bitcoin (CRYPTO: BTC) mining company reported a fourth-quarter loss of $4.52 per share, missing analyst estimates for a loss of 30 cents per share.
MARA said it mined 2,011 Bitcoin in the fourth quarter and purchased 1,670 as part of its broader Bitcoin treasury strategy.
MARA Partners With Starwood
MARA Holdings entered into a strategic agreement with Starwood Capital Group to enable the conversion and expansion of select MARA sites into digital infrastructure capable of meeting the growing demand from enterprise, hyperscale and AI customers.
The companies said they expect to deliver approximately one gigawatt of near-term IT capacity with a pathway to more than 2.5 gigawatts.
“MARA’s power-rich sites give customers what they need most: predictable access to energy at scale,” said Fred Thiel, chairman and CEO of MARA Holdings.
“Our partnership with Starwood will allow us to turn that power certainty into capacity certainty, so customers can run diverse workloads close to their data and users. This joint venture structure also gives us a more capital-efficient way to accelerate the buildout of digital infrastructure across our portfolio.”
MARA executives will discuss the fourth quarter and likely provide more information on the data center deal on a conference call at 5 p.m. ET.
MARA Shares Move Higher
MARA Price Action: MARA Holdings shares were up 15.50% in Thursday’s after-hours session, trading at $9.76 at the time of publication, according to Benzinga Pro.
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