Mara Bitcoin miner posts 1093% adjusted ebitda in Q2
MARA Holdings Inc., a Bitcoin mining firm, reported record financial results in the second quarter of 2025 according to its recent statement.
The company’s adjusted EBITDA climbed 1,093 percent year on year to reach $1.2 billion.
This marks a significant increase from the previous year when MARA posted losses in the same quarter.
The miner recorded net income of $808.2 million in Q2 2025, reversing a net loss of nearly $200 million in Q2 2024.
Revenue also grew 64 percent year on year to $238 million for the quarter.
MARA's Bitcoin holdings grew 170 percent year on year to 49,951 BTC.
The company highlighted that the majority of its Bitcoin was mined rather than purchased, differentiating it from other large Bitcoin treasury holders.
“Our treasury has positioned us as one of the largest corporate holders of bitcoin globally, and we are proud of that position. But unlike Bitcoin treasury companies what sets MARA apart is how we got here: the majority of our Bitcoin was mined, not purchased,” the company said in its statement.
In addition to operational gains, MARA recently raised approximately $940.5 million to support further Bitcoin purchases and general corporate needs.
The improved quarter follows a period in early 2025 when MARA and peers experienced rising revenues but continued to report net losses.
Since then, a rise in Bitcoin’s price and growing institutional demand have contributed to a more favourable market.
MARA is currently regarded as the largest Bitcoin miner by holdings and the second-largest corporate Bitcoin holder after Strategy.
At the time of reporting, BTC price was $117,878.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
How much CPO demand will Nvidia Rubin Ultra generate? Bernstein: Optical value per Pod will increase fivefold
Bernstein believes that the co-packaged optics (CPO) and fiber demand driven by Nvidia's Rubin Ultra architecture will surge significantly, with the optical content per Pod rising from $1 million to $5.4 million. This will propel the size of Nvidia's optical ecosystem market to $46.8 billion by 2028 (a 91% annual increase). Although the industry faces supply bottlenecks with InP substrates, the outlook remains positive. The institution reiterates its “outperform” rating for Lumentum, Coherent, and Ciena.
UBS Q3 implements a two-way strategy with gold options, heavily invests in technology stocks, and builds positions in SK Hynix (SKHY.US)
UBS Group (UBS.US) has submitted its Q3 holdings report (13F) as of September 30, 2026.
SpaceX (SPCX.US) reportedly attempts “de-Nvidiaization” at the rack level: developing Kessel cabinets to bypass L6 compute boards, purchasing only chips
SemiAnalysis: SpaceX has developed its own Kessel cabinet, bypassing Nvidia's L6 cards to provide more options for manufacturing its own hardware.
$3.7 billion “data center power equipment prepayments” abandoned! What did "the most active buyer of gas turbines", SoftBank, see?
In the second quarter of fiscal year 2026, SoftBank reported a net loss of $7.1 billion, primarily due to a $3.7 billion impairment charge from a $9.5 billion advance payment for power generation equipment for US data centers—of which about $2.9 billion was non-refundable and effectively lost. The CFO admitted that SoftBank placed orders before the project plan was finalized, and is now conducting a comprehensive review of its procurement strategy. "The most aggressive purchaser of gas turbines has now written off the deposit in this way."
Crypto prices
More
