The latest financial statement is for the year ending 2025-12-31.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income (loss) | -1,311,892 | 541,008 | 261,173 | -686,740 |
| Depreciation and amortization | 772,768 | 403,706 | 179,513 | 78,709 |
| Amortization of prepaid service contract | - | 0 | 0 | 22,781 |
| Gain on sale of equipment, net of disposals | - | 0 | 0 | 83,880 |
| Deferred tax (benefit) expense | -58,646 | 73,217 | 15,286 | -22,575 |
| Losses on digital assets held within investment fund | - | 0 | 0 | -85,017 |
| (gains) losses on digital assets and digital assets loan receivable | - | - | 331,484 | -14,460 |
| Change in fair value of digital assets and digital assets - receivable, net | -425,669 | 1,113,610 | - | - |
| Impairment of digital assets | - | 0 | 0 | 173,215 |
| Impairment of mining equipment and advances to vendors | - | 0 | 0 | 332,933 |
| Allowance for credit losses | - | 8,379 | - | - |
| Impairment of goodwill and other assets | 109,030 | - | - | - |
| Net gain on investments | 12,616 | 4,236 | - | - |
| Loss on hedge instruments | - | -580 | -17,421 | - |
| Stock-based compensation | 172,295 | 157,642 | 32,644 | 24,595 |
| Change in fair value of derivative instrument | 40,372 | -2,043 | - | - |
| Early termination expenses | -5,000 | -38,061 | - | - |
| Amortization of intangible assets | - | 22,919 | - | - |
| Amortization of debt issuance costs | - | 2,714 | 3,168 | 3,945 |
| Equity in net earnings of unconsolidated affiliate | -4,699 | -1,505 | -617 | - |
| Impairment of patents | - | 0 | 0 | 919 |
| Impairment of deposits due to vendor bankruptcy filing | - | 0 | 0 | 55,674 |
| Net gain on extinguishment of debt | 1,029 | 13,121 | 82,267 | - |
| Other adjustments from operations, net | 10,917 | 801 | 484 | 1,032 |
| Revenues from digital assets production | 897,448 | 624,740 | 385,959 | 117,749 |
| Accounts receivable | - | 9,319 | - | - |
| Other receivables | -1,813 | 189,605 | 23,777 | 24,469 |
| Deposits | -18,238 | - | - | - |
| Prepaid expenses and other assets | -1,704 | -11,836 | 1,881 | 48,886 |
| Accounts payable and accrued expenses | -2,855 | 13,198 | 146 | 13,223 |
| Legal reserve payable | - | 0 | 0 | 1,171 |
| Accrued interest | - | - | -735 | 144 |
| Net cash used in operating activities | -802,725 | -677,022 | -315,651 | -176,481 |
| Advances to vendors | 153,240 | 817,297 | 158,940 | 483,840 |
| Loan receivable | - | - | 0 | 0 |
| Acquisition, net of cash acquired | 36,369 | 335,630 | - | - |
| Purchase of property and equipment | 407,071 | 250,825 | 27,611 | 41,108 |
| Proceeds from sale of property and equipment | 3,654 | 3,506 | 0 | 178,371 |
| Purchase of intangible assets | 0 | 2,633 | - | - |
| Proceeds from sale of digital assets | 433,847 | 152,290 | 264,945 | 0 |
| Payments on hedge settlements | 0 | 0 | 2,004 | - |
| Purchase of digital assets | 473,734 | 1,946,860 | 0 | 0 |
| Proceeds from term loan borrowings, net of issuance costs | - | 0 | 0 | 49,250 |
| Investment in joint venture | - | - | 71,795 | - |
| Investment in equity method investments | 12,563 | 21,654 | - | - |
| Borrowings from revolving credit agreement | - | - | - | 120,000 |
| Purchase of equity investments | 24,444 | 9,956 | 0 | 44,000 |
| Repayments of revolving credit agreement | - | - | - | 120,000 |
| Contribution from noncontrolling interest | - | 7,154 | - | - |
| Deconsolidation of fund | - | 0 | 0 | 500 |
| Proceeds received on issuance of note payable | - | - | - | 0 |
| Value of shares withheld for taxes | - | 2,547 | 380 | 81 |
| Sale of digital assets in investment fund | - | 0 | 0 | 849 |
| Proceeds received on exercise of options and warrants | - | - | 0 | 0 |
| Net cash used in investing activities | -669,920 | -3,229,059 | 4,595 | -390,228 |
| Proceeds from issuance of common stock, net of issuance costs | 568,563 | 1,851,621 | 608,365 | 361,486 |
| Proceeds from issuance of convertible notes, net of issuance costs | 1,014,022 | 2,178,679 | 0 | 0 |
| Proceeds from issuance of series a preferred stock, net of issuance costs | 0 | 0 | 13,629 | - |
| Redemption of series a preferred stock | 0 | 0 | 15,750 | - |
| Borrowings from revolving credit agreement | - | 0 | 0 | - |
| Repurchase of shares in settlement of restricted stock | 46,921 | 34,857 | - | - |
| Line of credit | 150,000 | 200,000 | - | - |
| Repayment of finance lease liabilities | 168 | 163 | - | - |
| Repayment of convertible notes | 18,279 | 247,348 | - | - |
| Repayment of term loan borrowings | 0 | 0 | 50,000 | - |
| Purchased capped calls | 39,770 | - | - | - |
| Contribution from noncontrolling interest | 559 | - | - | - |
| Net cash provided by financing activities | 1,628,006 | 3,952,539 | 555,864 | 410,655 |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect | - | - | - | -156,054 |
| Net increase in cash, cash equivalents and restricted cash | 155,361 | 46,458 | 244,808 | -156,054 |
| Cash, cash equivalents and restricted cash beginning of period | - | - | - | 268,556 |
| Cash, cash equivalents and restricted cash beginning of period | 403,771 | 357,313 | 112,505 | - |
| Cash, cash equivalents and restricted cash end of period | - | - | - | 112,502 |
| Cash, cash equivalents and restricted cash end of period | 559,132 | 403,771 | 357,313 | - |
MARA Holdings, Inc. (MARA)
MARA Holdings, Inc. (MARA)