For the quarter ending 2025-09-30, MARA made $252,410K in revenue. $123,128K in net income. Net profit margin of 48.78%.
| Income Statement | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 |
|---|---|---|---|---|
| Revenues | 252,410 | 238,485 | 213,884 | 214,394 |
| Legal reserves | - | - | - | 0 |
| Purchased energy costs | 43,080 | 41,730 | 43,481 | - |
| Impairment of mining equipment and advances to vendors | - | - | - | 0 |
| Impairment of digital assets | - | - | - | 0 |
| Operating and maintenance costs | 26,310 | 22,362 | 19,794 | - |
| Impairment of deposits due to vendor bankruptcy filing | - | - | - | 0 |
| Impairment of patents | - | - | - | 0 |
| Third-party hosting and other energy costs | 75,664 | 69,029 | 68,183 | - |
| Amortization of intangible assets | - | - | - | 261 |
| Total operating expenses | - | - | - | -393,820 |
| General and administrative | 85,296 | 92,948 | 85,865 | 77,924 |
| Losses on digital assets held within investment fund | - | - | - | 0 |
| Depreciation and amortization | 167,312 | 161,741 | 157,897 | 136,767 |
| Change in fair value of digital assets | 234,240 | 846,027 | -394,162 | 203,454 |
| Change in fair value of derivative instrument | -4,422 | 20,311 | 26,828 | 33,192 |
| Impairment of assets | 0 | 26,253 | - | - |
| Gain on sale of equipment, net of disposals | - | - | - | 0 |
| Taxes other than on income | 2,354 | 2,437 | 3,095 | - |
| Early termination expenses | -5,000 | 0 | 0 | 0 |
| Net gain from extinguishment of debt | - | - | - | 13,121 |
| Research and development | 8,716 | 8,546 | 9,298 | 4,105 |
| Gain on investments | - | - | - | 0 |
| Mining and hosting services | - | - | - | 130,420 |
| Restructuring costs | 20,905 | - | - | - |
| Loss on hedge instruments | - | - | - | 1,712 |
| Total cost of revenues | - | - | - | 267,187 |
| Total costs and operating expenses | 204,819 | -441,292 | 754,947 | - |
| Impairment of loan and investment due to vendor bankruptcy filing | - | - | - | 0 |
| Operating income (loss) | 47,591 | 679,777 | -541,063 | 341,027 |
| Change in fair value of digital assets - receivable, net | 108,859 | 346,547 | -116,067 | 301,724 |
| Interest income | 17,689 | 9,631 | 11,995 | 5,315 |
| Interest expense | 12,760 | 12,835 | 9,941 | 4,643 |
| Equity in net earnings of unconsolidated affiliate | -1,711 | -902 | -13 | -680 |
| Other | 1,144 | -5,509 | 2,474 | -11,031 |
| Total other income (loss) | 113,221 | 336,932 | -111,552 | - |
| Income (loss) before income taxes | 160,812 | 1,016,709 | -652,615 | 646,545 |
| Income tax benefit (expense) | 37,678 | 208,504 | -119,172 | 118,262 |
| Net income (loss) | 123,134 | 808,205 | -533,443 | 135,252 |
| Less net (income) loss attributable to noncontrolling interest | 6 | -30 | -244 | 393,154 |
| Net income (loss) | - | - | - | 528,528 |
| Series a preferred stock accretion to redemption value | - | - | - | 0 |
| Net income (loss) attributable to common stockholders | 123,128 | 808,235 | -533,199 | 432,851 |
| Net income (loss) per share of common stock - basic (in dollars per share) | 0.33 | 2.29 | -1.55 | 1.71 |
| Net income (loss) per share of common stock - diluted (in dollars per share) | 0.27 | 1.84 | -1.55 | 1.6 |
| Weighted average shares of common stock - basic (in shares) | 372,073,173 | 352,901,683 | 344,098,009 | -542,753,866 |
| Weighted average shares of common stock - diluted (in shares) | 470,126,290 | 440,912,159 | 344,098,009 | -529,688,287 |
MARA Holdings, Inc. (MARA)
MARA Holdings, Inc. (MARA)