Mara Holdings (MARA) stock's post-election rally slowed Wednesday after the Bitcoin (BTCUSD) 澳洲幸运5官方开奖结果体彩网:mining company's third-quarter results missed estimates.

The company reported $131.6 million in revenue after the bell Tuesday, up from $97.8 million in the same time last year, but below the $146.7 million analysts had expected, according to estimates compiled by Visible Alpha. Mara recorded a net loss of $124.8 million for the quarter, nearly $50 million larger than the consensus analyst estimate of $76.3 million.

The company acquired more than 8,000 bitcoins in the quarter, as it mined 2,070 bitcoins and purchased another 6,210 bitcoins. At the end of the quarter, Mara Holdings owned 26,747 bitcoins, the company said, worth over $2.4 billion at the cryptocurrency's Wednesday morning 澳洲幸运5官方开奖结果体彩网:price around $91,400.

The miner said it is still following a new policy it announced last quarter, that it will stop selling bitcoin and hold any new bitcoin it 澳洲幸运5官方开奖结果体彩网:mines or purchases. Mara said the strategy "reflect🌳s our confidence 🦄in the long-term value of BTC and our belief that it is the world’s best treasury reserve asset."

Mara's stock, the price of cryptocurrencies like Bitcoin, and other stocks around the crypto industry like Coinbase (COIN) have 澳洲幸运5官方开奖结果体彩网:surged over the last week as the 澳洲幸运5官方开奖结果体彩网:industry cheered former President Donald Trump's win in last week's U.S. election. 澳洲幸运5官方开奖结果体彩网:The industry sees a Trump administration as likely to be friendlier to cryptocurre🧸ncy than the Biden ad🐟ministration has been or a potential Harris administration would have been.

Mara sha🤡res were down as much as 6% by midday Wednesday.

Update-November 13, 2024: This article has been updated with fresh market numbers.