Mara Rides Cryptocurrency Boom to Soaring Revenue Growth, But Underlying Loss Persists
• MARA reported Q4 EPS of $0.66, but this would have been a loss of $0.02 excluding new fair value accounting rules • Revenue soared 452% to $156.8M driven by higher BTC production and prices • BTC production up 210% in 2022 to 12,852 BTC; hash rate capacity improved to 24.7 EH/S • Pared down debt by 56% to $331M; ended year with nearly $1B in cash and BTC • Plans to increase hash rate capacity to 35-37 EH/S in 2024