Bitcoin miner MARA's stock dips 3.4% after Q1 loss, sells 20K BTC to cut debt and shift to AI.

Bitcoin mining company MARA reported an 18% revenue drop to $176 million and a $1.3 billion net loss in Q1, mainly due to crypto market declines. The firm sold over 20,000 BTC worth $1.5 billion to reduce debt by 30% and fund its strategic pivot toward AI infrastructure. MARA plans to convert 90% of its capacity to AI data centers and power generation, anticipating changes after the 2028 Bitcoin halving. Despite the loss, the stock partially recovered in pre-market trading following the report.