MARA Holdings announced substantial financial growth in its second-quarter results, driven by Bitcoin appreciation and operational scaling. Revenue surged 64% year-over-year to $238 million, primarily fueled by Bitcoin’s 31% price increase and expanded mining capacity.
Net income soared 505% to $808 million, largely attributable to a $1.2 billion unrealized gain from Bitcoin holdings. The company increased its Bitcoin treasury by 170% to nearly 50,000 BTC, valued at approximately $5.3 billion, cementing its position as the second-largest public corporate Bitcoin holder worldwide.
Mining output rose 3% quarter-over-quarter to 2,358 BTC, supported by a 6% increase in energized hashrate reaching 57.4 EH/s. MARA simultaneously unveiled strategic partnerships with Google-backed TAE Power Solutions and LG-backed PADO AI to develop grid-responsive platforms integrating artificial intelligence capabilities.
CEO Fred Thiel highlighted the success of MARA’s vertically integrated mining strategy, which contributed to the strong performance. Following the earnings release, MARA shares climbed 7.5% in after-hours trading, signaling robust investor confidence.