Data: Bitcoin mining company MARA's third-quarter revenue fell short of expectations, with reserves increasing to approximately 27,000 BTC

ChainCatcher news, according to The Block, Bitcoin mining company MARA Holdings (formerly Marathon Digital) announced its third-quarter financial report on Tuesday afternoon. The company reported a loss of $0.34 per share for the third quarter, which aligns with market expectations according to MarketWatch data. Third-quarter sales were $131.6 million, below the expected $151.6 million, showing improvement compared to a net loss of $199.7 million in the second quarter.

As of October 31, MARA's balance sheet held 26,747 BTC, with 2,070 BTC mined in Q3 and 6,210 BTC purchased, of which 4,144 BTC were bought using proceeds from a $300 million convertible preferred note issuance, at an average price of $59,500.

Last week, MARA stated that it mined 717 BTC in October, a 2% increase month-over-month, with the monthly hash rate rising to 40.2 EH/s. On Monday, the company announced the acquisition of two power plants in Ohio with a total generation capacity of 222 megawatts at a price of $270 per kilowatt.