MARA Reports $632M Q3 2026 Net Income Despite Revenue Decline

MARA Holdings, Inc. (NASDAQ: MARA), a global energy-backed digital infrastructure enterprise, announced its third-quarter 2026 unaudited financial results on November 9, 2026. The company reported a net income of $632.1 million, a significant increase from $123.1 million in Q3 2025, despite a 35% year-over-year revenue decline to $164.2 million. The revenue drop, from $252.4 million in Q3 2025, was attributed primarily to lower bitcoin prices during the period. However, MARA's net income was bolstered by $885.3 million in non-cash gains related to changes in the fair value of digital assets and related receivables. Adjusted EBITDA also rose sharply to $857.7 million, compared to $395.6 million in the same quarter last year. Operationally, the company reported an 18% increase in its energized hashrate, reaching 71.2 EH/s.

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