格隆汇7月30日｜BMNR涨超6%，MARA Holdings涨超4%，嘉楠科技、Circle涨超3%，Coinbase涨超 2%。 ...

智通财经7月30日电，加密货币概念股盘初集体上行，BMNR涨超6%，MARA Holdings涨超4%，嘉楠 科技、Circle涨超3%，Coinbase涨超2%。 ...

智通财经7月30日电，美股绩优股盘前走强，星巴克、MARA Holdings涨超4%，FuboTV涨近10%。 ...

分组1 - Marathon Digital Holdings, Inc. reported a quarterly loss of $0.81 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.53, and compared to a loss of $0.24 per share a year ago, indicating a significant decline in performance [1] - The company posted revenues of $238.49 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 6.21%, and showing an increase from year-ago revenues of $145.14 million [2] - Over the last four quarters, the company has surpassed consensus EPS estimates just once, indicating inconsistent performance in earnings [2] 分组2 - The stock has added about 2.3% since the beginning of the year, underperforming compared to the S&P 500's gain of 8.6%, raising questions about future performance [3] - The current consensus EPS estimate for the coming quarter is -$0.47 on revenues of $228.45 million, and for the current fiscal year, it is -$2.36 on revenues of $919.85 million [7] - The Zacks Industry Rank for Financial - Miscellaneous Services is currently in the bottom 42% of over 250 Zacks industries, suggesting a challenging environment for the sector [8]

Financial Data and Key Metrics Changes - The company reported record financial performance in Q2 2025, with revenues increasing by 64% to $238.5 million from $145.1 million in Q2 2024, marking the highest revenue quarter in company history [15][16] - Net income reached $808.2 million or $1.84 per diluted share, compared to a net loss of $199.7 million or $0.72 per diluted share in the same quarter last year [17] - The market value of Bitcoin holdings increased by over $4.2 billion or 362% year over year, with Bitcoin holdings surging by over 170% from approximately 18,500 BTC to nearly 50,000 BTC [14][15] Business Line Data and Key Metrics Changes - The energized hash rate expanded by 82%, increasing from 31.5 exahash per second to 57.4 exahash per second [14] - The company produced an average of 25.9 BTC each day during Q2 2025, compared to 22.9 BTC each day in Q2 2024, resulting in 300 more BTC earned [16] - There was a 52% increase in the number of blocks won in the quarter compared to the same period last year [16] Market Data and Key Metrics Changes - The average Bitcoin price increased by 50%, contributing $77 million to revenue [16] - The company is positioned to benefit from the growing demand for compute infrastructure that is geographically sovereign, energy aligned, and secure by design, particularly in Europe and emerging markets [10] Company Strategy and Development Direction - The company is focusing on low-cost energy strategies and has completed construction of a new behind-the-meter data center at a wind-powered site in Texas [5] - Strategic partnerships have been announced with TAE Power Solutions and Pato AI to co-develop grid-responsive load balancing platforms for AI infrastructure [4] - The company aims to extend its vertically integrated compute platform into edge environments to meet the unique needs of latency-sensitive and compliance-driven use cases [10] Management's Comments on Operating Environment and Future Outlook - Management views the current Bitcoin market as somewhat frothy, with persistent demand balanced by ample supply from long-term holders taking profits [8] - The company believes it is positioned to benefit regardless of Bitcoin price fluctuations, focusing on digital energy and the convergence of computing and energy [9] - The company is laying the groundwork for international expansion, including establishing a regional headquarters in Saudi Arabia and an entity in France [11] Other Important Information - The company held over $5 billion in liquid assets as of June 30, 2025, and raised approximately $1 billion since then, providing flexibility for growth and expansion [22] - The company is on track to reach its target of 75 exahash by the end of the year, with all miners secured and funded except for $150 million expected to be paid in the second half [23][82] Q&A Session Summary Question: Can you talk a little bit more about MARA's cost to mine per Bitcoin? - The company transitioned to an asset-heavy strategy, resulting in a lower electricity cost per coin, which is around $50,000, more than 50% cheaper than buying in the open market [88] Question: How will the signing of the Genius Act affect Mara's path to Bitcoin mining? - The Genius Act is expected to increase liquidity in the market, allowing for greater capital allocation to Bitcoin, which is seen as beneficial for the company [90][92]

Financial Data and Key Metrics Changes - In Q2 2025, the company achieved record revenues of $238.5 million, a 64% increase from $145.1 million in Q2 2024, driven by a 50% increase in the average Bitcoin price contributing $77 million [16][19] - Net income reached $808.2 million or $1.84 per diluted share, compared to a net loss of $199.7 million or $0.72 per diluted share in the same quarter last year [19] - The market value of Bitcoin holdings increased by over $4.2 billion or 362% year over year [16] Business Line Data and Key Metrics Changes - The energized hash rate expanded by 82%, increasing from 31.5 exahash per second to 57.4 exahash per second [15] - The company produced an average of 25.9 BTC per day in Q2 2025, compared to 22.9 BTC per day in Q2 2024, resulting in 300 more BTC earned [17] - There was a 52% increase in the number of blocks won in the quarter compared to the second quarter of last year [18] Market Data and Key Metrics Changes - The company surpassed 50,000 Bitcoin holdings, solidifying its position as the second largest Bitcoin holder globally [5] - The current price of Bitcoin is viewed as "frothy," with persistent demand balanced by ample supply from long-term holders taking profits [7] Company Strategy and Development Direction - The company is focusing on low-cost energy strategies and has completed construction of a new data center at a wind-powered site in Texas [5] - Strategic partnerships have been announced with TAE Power Solutions and Pato AI to develop grid-responsive load balancing platforms for AI infrastructure [4] - The company is exploring international opportunities, including establishing a regional headquarters in Saudi Arabia and a European headquarters in France [10][12] Management's Comments on Operating Environment and Future Outlook - Management believes the convergence of AI and Bitcoin mining presents a unique opportunity for growth, particularly in sovereign data and energy-efficient computing [9][32] - The company is positioned to benefit regardless of Bitcoin price fluctuations, focusing on digital energy and efficient energy systems [9] - Concerns were raised about the frothiness in the market for Bitcoin treasury companies, with potential risks if Bitcoin prices decline [56][60] Other Important Information - The company issued $950 million of 0% convertible senior notes due 2032 to bolster its balance sheet and provide strategic flexibility [23] - The company aims to reach a target of 75 exahash by the end of the year, with most miners secured and funded [25][81] Q&A Session Summary Question: Can you talk a little bit more about MARA's cost to mine per Bitcoin? - The company's electricity cost per Bitcoin is among the lowest in the sector, hovering around $50,000 per coin, which is over 50% cheaper than buying in the open market [86] Question: How will the signing of the Genius Act affect MARA's path to Bitcoin mining? - The Genius Act is expected to increase liquidity in the market, allowing for greater capital allocation to Bitcoin, which is seen as beneficial for the company [88][90]

Bitcoin miner MARA's adjusted EBITDA jumps over 1,000% in record quarter https://t.co/lRD3Mx7k7v ...

Q2 2025 UPDATE NASDAQ:MARA • MARA.COM • JULY 29, 2025 Disclaimer Investor Notice Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under the heading "Risk Factors" in our most recent annual report on Form 10-K and any other periodic reports that we may file with the U.S. Securities and Exchange Commission (the "SEC"). If any of these risks were to occur, our busines ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the transition period from _______to______ Commission File Number: 001-36555 MARA HOLDINGS, INC. (Exact name of registrant as specified in charter) Nevada 01-0949984 (State or other jurisdi ...

Q2 2025 Shareholder Letter IR.MARA.COM Contents | To Our Shareholders | 3 | | --- | --- | | Financial and Operational Discussion | 7 | | Earnings Webcast and Conference Call | 13 | | Statements of Operations | 14 | | Investor Notice | 17 | | Forward-Looking Statements | 17 | Key Highlights Revenues increased 64% to $238.5 million Net income (loss) increased 505% IN Q2 2025 from $145.1million in Q2 2024. Adjusted EBITDA increased 1093% $1.2 BILLION compared to ($125.5) millionin Q2 2024. Energized hashrate ( ...