Bitcoin mining company Mara Holdings reported a record profit of $123 million in Q3, benefiting from the pump in coin prices and improved operational efficiency.

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According to Mars Finance, on November 4th, Bitcoin mining company Mara Holdings announced record earnings, with third-quarter profits reaching $123 million, primarily driven by the rise in Bitcoin prices and improved operational efficiency, resulting in a 92% increase in revenue to $252 million. This performance marks the company’s return to profitability, a significant improvement compared to a loss of $125 million a year ago, thanks to a 64% increase in Computing Power and a drop in electricity costs. The company mined 2,144 Bitcoins in Q3 and currently holds 53,250 Bitcoins, valued at nearly $5.6 billion at current prices.

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