MARA and CleanSpark recorded first-quarter revenue growth, but both recorded net losses

MARA and CleanSpark Quarter 1 saw year-on-year revenue growth of 30 per cent and 63 per cent, respectively, with MARA at $214 million and CleanSpark at $182 million. However, both companies recorded net losses, with MARA losing $533 million and CleanSpark losing $139 million. "We will maintain discipline in how and where we expand to maximise profitability," MARA chairperson and CEO Fred Thiel said in a shareholder letter. CleanSpark CEO Zach Bradford said: "CleanSpark doubles down to be the only publicly traded company still committed to pure bitcoin mining."