MARA Holdings Inc. CEO Fred Thiel announced a strategic transformation, stating that the company is "no longer just a Bitcoin miner," but rather a "energy-driven digital infrastructure platform." Previously, the company reported a net loss of $1.7 billion in the fourth quarter, primarily due to a 23% decline in Bitcoin prices, which led to a $1.5 billion impairment on its Bitcoin holdings. The company will adopt an "opportunistic strategy" to leverage Bitcoin to enhance financial flexibility and adjust its approach flexibly based on market conditions. Additionally, MARA is collaborating with Starwood Capital Group to develop data centers, aiming to provide over 2.5 gigawatts of IT capacity.
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MARA Holdings Inc. CEO Fred Thiel announced a strategic transformation, stating that the company is "no longer just a Bitcoin miner," but rather a "energy-driven digital infrastructure platform." Previously, the company reported a net loss of $1.7 billion in the fourth quarter, primarily due to a 23% decline in Bitcoin prices, which led to a $1.5 billion impairment on its Bitcoin holdings. The company will adopt an "opportunistic strategy" to leverage Bitcoin to enhance financial flexibility and adjust its approach flexibly based on market conditions. Additionally, MARA is collaborating with Starwood Capital Group to develop data centers, aiming to provide over 2.5 gigawatts of IT capacity.