MARA Holdings, Inc. — Q3 2026 Earnings Summary

In the third quarter of 2026, MARA Holdings reported revenues of $164.2 million, a 35% decrease from the prior year, while net income rose to $632.1 million driven by an $885.3 million unrealized gain on digital assets. The company's energized hashrate increased 18% to 71.2 EH/s, and it mined 2,247 BTC with a cost per kWh of $0.04 for owned sites. MARA reduced its total debt by $1.4 billion, or 37%, since the beginning of the year and subsequently repaid $750 million of Bitcoin-collateralized debt after quarter-end. Additionally, the Board authorized a $500 million share repurchase program, and the company advanced its power portfolio with FERC approval for the Long Ridge acquisition and rights to develop a 2 GW site in Matagorda County, Texas.