Crypto markets moved through a mix of earnings pressure, layoffs and fresh debate over Bitcoin demand on Thursday. The developments weren’t directly connected, but they landed within hours of each other and gave traders plenty to digest.
MARA Posts $1.7B Quarterly Loss
MARA Holdings opened the day with a sharp quarterly miss, reporting a $1.71 billion net loss for the fourth quarter of 2025. The bulk of the loss stemmed from a fair-value adjustment on its Bitcoin holdings during a period when prices were weaker.
Revenue declined slightly compared with a year earlier, and mining output also came in lower. That combination weighed on results, though it was not entirely unexpected given Bitcoin’s price swings during the quarter.
MARA still holds a large Bitcoin reserve despite the loss. Executives said the company is working to broaden its focus, with plans to move further into artificial intelligence and high-performance computing. Other miners have been exploring similar avenues as they look for revenue outside traditional mining.
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Block Cuts Nearly 40% of Staff Amid AI Push
Payments and fintech company Block said it will reduce its workforce by nearly 40%, eliminating more than 4,000 positions as part of a restructuring centered on artificial intelligence.
The company indicated that increased use of automation and internal AI tools has reduced the need for certain roles. The decision marks one of the larger staff reductions in the crypto-adjacent fintech space this year.
Across the technology sector, firms have been trimming headcount while directing more resources toward AI development. Block’s move fits into that wider pattern, as companies reassess operating costs and attempt to become leaner without slowing product development.
Analysts Reject “Dump” Claims as ETF Inflows Continue
Market speculation circulated that a major trading firm had offloaded significant amounts of Bitcoin, potentially contributing to recent price softness. Analysts pushed back on that narrative, saying available data did not support claims of large-scale selling.
Instead, U.S. listed spot Bitcoin exchange-traded funds continued to see inflows. While daily numbers can fluctuate, the ongoing allocation into these products suggests that institutional interest has not disappeared.
The contrast between online speculation and ETF data has added another layer to the current market discussion. Price volatility remains, but steady fund inflows indicate that longer-term positioning may still be intact.
