MARA

Bitcoin miners under pressure: MARA, Marathon and TeraWulf — markdowns, mining revenue and the AI pivot – cover image
Bitcoin miners under pressure: MARA, Marathon and TeraWulf — markdowns, mining revenue and the AI pivot

Public miners face balance-sheet volatility from fair-value markdowns and weak Q4 2025 mining revenue; MARA, Marathon and TeraWulf show different responses, with AI/HPC pivots offering optionality but new execution risks for shareholders.

Published at 2026-02-27 15:16:39