#Will BTC Hit a New High? Bitcoin is approaching $103,000, BTC miners' assets soar to $5 billion.

The Bitcoin mining company MARA has nearly tripled its Bitcoin reserves over the past 12 months, according to recently released first-quarter results.
However, the production of Bitcoin by the company has fallen, and its total revenues slightly missed Wall Street's estimates in the first quarter.
Previously known as Marathon Digital, MARA's Bitcoin
BTCUSD
the holding reached 47,531 BTC at the end of the first quarter of 2024, increasing by 175 percent from 17,320 BTC.
As Bitcoin rises, MARA assets approach 5 billion dollars.
According to the data, MARA is the second largest holder of Bitcoin among publicly traded companies. The strategy (MSTR) ranks first with 555,450 Bitcoins.
These assets are worth about 4.9 billion dollars, based on the price of Bitcoin at 102,660 dollars at the time of publication. According to the data, the price of Bitcoin has increased by 4.86 percent in the last 24 hours.
However, the production of Bitcoins by MARA decreased by 19% during the quarter compared to the same quarter of 2024, amounting to 2.286 Bitcoin.
MARA associates this with the recent event of Bitcoin halving, which reduced the block mining reward to 3.125 BTC, thereby decreasing the total supply.
According to the data, MARA fell 0.35% below analysts' revenue expectations. Analysts noted that MARA has only exceeded market expectations once in the last four quarters.
The price of MARA shares rose by 7.2 percent in trading on May 8, but then fell by almost 2 percent in after-hours trading, according to Google Finance.
Bitcoin mining companies face similar difficulties.
Bitcoin miner Riot recently pointed out similar issues in its financial report for the first quarter.
Riot reported that the average cost of mining Bitcoin was $43,808 during the quarter, which is nearly 90 percent higher than $23,034 in the same period last year. However, Riot exceeded its revenue forecast of $159.8 million by 1 percent.
Other Bitcoin mining companies also did not meet Wall Street's expectations for revenue.
Bitcoin miner CleanSpark reported quarterly revenue of $181.71 million, which is 0.58 percent lower than market expectations.
Bitcoin miner Core Scientific also fell short of analysts' expectations, with total revenue for the first quarter at $79.5 million, which is 8.11 percent lower than analysts' estimates from Zacks and below the Q1 2024 revenue of $179.3 million.
Meanwhile, Bitcoin miner Hut8 reported the largest deviation among mining companies, falling short of Wall Street expectations by 35 percent.
Hut8 expected a revenue report of 35 million dollars in the first quarter, but the company reported only 21 million dollars.