MARA Holdings (NASDAQ:MARA) was trading lower after the bitcoin miner announced on Tuesday that it produced 706 bitcoins in February, down 6% sequentially.

MARA shares were trading 5% down pre-market at $13.10.

"Blocks won and bitcoin production decreased by 6% month-over-month, primarily due to a higher network difficulty level and three fewer operational days," said CEO Fred Thiel.

The average bitcoins produced per day increased 4% month-over-month to 25.2.

Energized hash rate stood at 53.7 EH/s at February-end.

"Our energized hashrate was slightly above the prior month, and we are close to finishing construction of a 40-megawatt data center in Ohio where we plan to install over ten thousand S21 Pro immersion miners," said Thiel.

"In conjunction with our emerging technology business, we are taking steps today, including investing in research and development, to establish our presence in AI and adjacent markets, which we expect will create additional revenue opportunities over the long term," the CEO said.