MARA Holdings, a leading cryptocurrency mining company, saw its stock soar by 5.06% in after-hours trading on Wednesday. This surge came on the heels of the company reporting stellar fourth-quarter 2024 financial results that exceeded analysts' expectations.

Marathon Digital Holdings, the company's operating subsidiary, announced adjusted earnings per share of $1.24 for the quarter, significantly higher than the consensus estimate of $0.68. Additionally, the company reported quarterly sales of $214.4 million, outpacing the analyst consensus estimate of $186.4 million.

The company's robust financial performance can be attributed to its successful mining operations and the continued growth in demand for cryptocurrencies. With its state-of-the-art mining facilities and efficient operations, Marathon Digital Holdings has solidified its position as a leader in the rapidly expanding cryptocurrency industry.