According to the company's financial report, MARA Holdings' Q1 2025 revenue reached $214 million, a year-on-year increase of 30%; Bitcoin holdings reached 47,531, a 174% increase compared to the same period last year, with a current valuation of approximately $3.9 billion. Despite the revenue growth, the company still recorded a net loss of $533 million, mainly due to a book loss on assets caused by the decline in Bitcoin prices at the end of the quarter. The company emphasized that it will continue to promote the transformation of vertically integrated energy and computing power infrastructure.