Bitcoin miners MARA Holdings and CleanSpark both posted double-digit year-over-year revenue declines in their latest quarterly results, even as they step up investment in high-performance computing (HPC) and AI infrastructure. MARA reported second-quarter revenue of $174.9 million, a 27% drop from the same period last year. CleanSpark generated $138 million in fiscal third-quarter revenue, down 30.5% year over year. The two companies continue to pour resources into HPC as the AI sector expands and Bitcoin mining difficulty keeps rising. MARA said it plans to acquire power and data center assets to expand AI computing capacity, with the potential to reach a 4.8 GW power portfolio. CleanSpark said it already controls more than 1.8 GW of power, land, and data center resources. At the latest count, MARA holds around 35,577 BTC and CleanSpark holds about 13,924 BTC, placing them fourth and eleventh among public companies by Bitcoin holdings. The revenue declines highlight the financial strain across large-scale Bitcoin mining operations, and both firms are responding by building out infrastructure that can serve AI workloads in addition to mining.
Bitcoin miners MARA Holdings and CleanSpark both posted double-digit year-over-year revenue declines in their latest quarterly reports.
Revenue by the numbers
MARA generated $174.9 million in second-quarter revenue, down 27% from a year earlier. CleanSpark brought in $138 million for its fiscal third quarter, a 30.5% decline year over year.
HPC and AI expansion continues
Despite the weaker results, both miners are pushing ahead with high-performance computing (HPC) and AI infrastructure. As the AI industry grows and Bitcoin mining difficulty keeps rising, the two companies are committing resources to HPC lines.
MARA said it plans to buy power and data center assets to expand AI computing capacity, with a future power portfolio that could reach 4.8 GW. CleanSpark said it already controls more than 1.8 GW of power, land, and data center resources.
Bitcoin holdings
MARA holds roughly 35,577 BTC, while CleanSpark holds about 13,924 BTC. That puts them fourth and eleventh, respectively, among public companies by Bitcoin holdings.
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