Earnings Releases·Nov 9, 2026, 4:05 PM ET

MARA Holdings, Inc. — Q3 2026 Earnings Summary

Revenue declined 35% year-over-year to $164.2 million, while net income surged to $632.1 million ($1.28 per share) driven by an $885.3 million unrealized gain on digital assets; Adjusted EBITDA rose 117% to $857.7 million.
Total debt was reduced by $1.4 billion (37%) since the start of the year, with less than 5% of BTC holdings remaining pledged following a $750 million repayment after quarter-end.
Energized hashrate increased 18% to 71.2 EH/s, and the company sold 3,891 BTC during the quarter and 13,597 BTC post-quarter for $1.1 billion in proceeds.
Strategic progress includes the expected year-end closing of the Long Ridge acquisition and a new $500 million share repurchase program authorized after quarter-end.
Future outlook targets over 4 GW of total potential capacity subject to Long Ridge and Matagorda County closures, though lease signings may slip into 2027 due to fluid market conditions.