Bitcoin mining giants MARA Holdings and CleanSpark reported quarterly earnings showing revenue fell about 30% year-on-year. MARA's second-quarter revenue was 174.9 million dollars, down 27%, while CleanSpark's revenue was 138 million dollars, down 30.5%, as impairment losses on bitcoin holdings amid falling prices widened net losses. Both companies are accelerating infrastructure investments for AI and high-performance computing, but according to analysis by BlocksBridge Consulting, the average stock price move on the day of AI-related announcements has shrunk from an initial 24.1% to a recent 10.2%, signaling that investors are increasingly focused on monetization feasibility rather than the scale of announcements.
CleanSpark IncRevenue fell 30.5% and net losses widened due to bitcoin impairment.
MARA Holdings IncRevenue fell 27% and net losses widened due to bitcoin impairment.
BitcoinBitcoin price decline caused impairment losses for miners, reflecting weak market.
