Marathon(US:MARA)2025-07-29 21:00Financial & Operational Highlights - Revenue increased 64% YoY to $238 million[9], marking the highest revenue quarter in the company's history[13] - Adjusted EBITDA increased 1,093% YoY to $12 billion[9], reaching an all-time quarter high[13] - Net income reached $808 million, or $184 per share, a significant increase from a loss of $200 million, or $072 per share, in the previous year[9] - Bitcoin holdings increased 170% YoY to 49,951 BTC[9] - The company's liquidity, including cash and BTC holdings, was approximately $54 billion at the end of Q2 2025, with an additional $950 million raised subsequently[9] Production & Efficiency - Energized hashrate increased 82% YoY to 574 EH/s[9] - Bitcoin production increased 15% YoY to 2,358 BTC, primarily due to the halving in April 2024[9] - Fleet efficiency improved to 183 J/TH due to the S21 Pro roll-out[13] - Purchased energy cost per BTC was $337K, believed to be among the lowest in the sector[13] Strategic Partnerships - Partnered with Pado AI Orchestration (LG-backed) to co-develop next-gen data center power management solutions[13] - Partnered with Google-backed TAE Power Solutions to build modular, high-frequency load management systems for hyperscale energy demands[13] - Expanded partnership with Two Prime through a minority investment and allocated 2,000 BTC to their asset management platform[13]