MARA Holdings Reports $252M Q3 Revenue, Expands into AI and Energy
MARA Holdings Q3 2025 Financial Highlights
- Reported revenue of $252.4 million, a 92% increase from Q3 2024.
- Net income reached $123.1 million, up from a net loss of $124.8 million in the same period last year.
- Mined and purchased a total of 2,144 BTC, increasing holdings to 52,850 BTC.
Operational Developments
- Energized hashrate grew by 64% to 60.4 EH/s.
- Cost efficiency improved with a 15% reduction in cost per petahash per day to $31.3.
- Adjusted EBITDA surged by 1,671% to $395.6 million.
- Transitioning to quarterly production updates starting Q4 2025.
Strategic Expansion into AI and Energy Infrastructure
- Announced a partnership with MPLX for developing power generation and data center campuses in West Texas, with an initial capacity target of 400 MW, scalable to 1.5 GW.
- Deployed first ten AI inference racks in Granbury, Texas.
- Agreed to acquire approximately 64% of Exaion, subject to regulatory approval, to strengthen AI infrastructure capabilities.
This strategic shift aligns with industry trends as other miners like TeraWulf and Cango also pivot towards AI infrastructure.