Mining company MARA Holdings (Marathon Digital) has published a financial results report in which it predicts a crisis after the next halving in 2028.
In a letter to shareholders, MARA CEO Fred Thiel said the next halving in 2028 will be a very serious test of strength for the entire industry. According to him, companies dependent on the supply of electricity at market prices will inevitably face a decrease in profitability, and most likely will not survive another reduction in the reward for the received block.
To prepare for this, the company continues to diversify its business, developing the data center business, looking at opportunities in AI and high-performance computing, and investing its own funds in other energy sources.
In particular, in 2024, the company acquired a wind farm in Texas to reduce the cost of electricity and strengthen its position in the face of upcoming changes in the industry.
In terms of financial performance, the company's revenue for the fourth quarter increased by 37% compared to the same period in 2023 and amounted to $214,4 million, exceeding analysts' forecast of $186 million. Annual revenue increased by 69% to $656,4 million. At the same time, MARA shares have fallen by 57% over the past year.
