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Crypto miner MARA slips after June bitcoin production falls

Reuters

Jul 01, 2025 12:39:12

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** Bitcoin miner MARA Holdings' shares fall 2.6% to $15.27 premarket

** Co says it produced 713 bitcoin in June, down from 950 in March

** Avg BTC produced per day declined to 23.8 in June vs 30.7 in prior month

** "The decrease was primarily due to reduced uptime from weather-related curtailment and the temporary deployment of older machines in Garden City while storm-related damage was being remediated," says Fred Thiel, MARA’s chairman and CEO

** Meanwhile, bitcoin , the world’s largest and best-known cryptocurrency, was last down 1.1%

** Shares of crypto miners often move in tandem with bitcoin, as their profitability is closely tied to its price

** As of last close, MARA down ~6.5% YTD

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