By Kelly Cloonan
Shares of Mara Holdings fell after the company notched a decrease in blocks won in April as mining difficulty grows.
The stock fell 11% to $12.95 on Monday. Shares have declined 26% in the past 12 months.
The Fort Lauderdale, Fla., cryptocurrency company said Monday it won 15% fewer blocks in April compared to March.
The company's average amount of bitcoin produced per day fell 12% to around 24.
The company's global hashrate rose in its second largest monthly gain on record as mining difficulty grew 8% from March, Chief Executive Fred Thiel said.
Despite such headwinds, the company completed a 50-megawatt expansion at its data center in Ohio, bringing its total operational capacity to 100 megawatts, Thiel said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 05, 2025 12:21 ET (16:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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