Marathon Digital Holdings reported third‑quarter 2025 results with revenue of $252 million and a GAAP earnings per share of $0.27, beating consensus estimates of $0.67. Net income for the quarter was $123.1 million, a turnaround from a $124.8 million loss in the same period a year earlier.
Bitcoin holdings increased to 52,850 BTC, up 98 % year‑over‑year, reflecting the company’s continued strategy of accumulating Bitcoin as a productive asset.
Operational metrics for the quarter showed an energized hashrate of 60.4 EH/s, a 64 % year‑over‑year increase, and a cost per petahash per day of $31.3, an improvement of 15 % from $37.0 in Q3 2024.
In comparison, Marathon Digital generated $238.5 million in revenue and $808.2 million in net income in Q2 2025, while Q3 2024 revenue was $131.6 million with a net loss of $124.8 million.
The company did not provide forward guidance for the next quarter or fiscal year and made no additional strategic announcements beyond the earnings release.
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