Marathon Digital (MARA) saw its energy cost per bitcoin increase from $32,433 last quarter to $39,235, putting pressure on its profit margins. The company is planning to diversify its business by acquiring a 64% stake in Exaion and building a new data center in Texas. Riot Platforms (RIOT) reported a record annual revenue of $647.4 million, but its adjusted EBITDA plummeted from $463.19 million to $12.96 million. Against the backdrop of rising energy costs and bitcoin price volatility, both miners' AI transformation plans are facing investor skepticism, with MARA stock down 6% and RIOT stock down 4%.

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