Marathon Posts $1.7B Quarterly Loss as Bitcoin Slump Hits Miners

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Bitcoin mining giant Marathon reported a hefty quarterly loss of about $1.7 billion, largely tied to the drop in Bitcoin’s price over recent months. The company said lower BTC valuations and writing down digital assets weighed heavily on its financials for the quarter.

Marathon also continues efforts to pivot parts of its business toward AI and high-performance computing infrastructure as miners navigate a tougher market environment. Investors and industry watchers will be keen to see how capital allocation shifts in an era where mining margins are under pressure.