Bitcoin miner MARA Holdings beat analyst expectations in its second-quarter earnings, which noticed its share worth barely acquire after-hours.
MARA Holdings’ revenues elevated 64% year-on-year to $238 million, up from $145 million in Q2 2024 and likewise gaining from its $214 million revenues within the first quarter of 2025, the corporate mentioned on Tuesday.
The agency’s income beat analyst expectations of $223.7 million whereas its web earnings surged 505% in comparison with a yr in the past to $808 million, up from a lack of slightly below $200 million in Q2 2024.
The earnings acquire was largely pushed by a $1.2 billion unrealized acquire from Bitcoin (BTC) appreciation over the interval. The asset gained 31% over the three-month interval ending June 30.
MARA shares acquire after hours
With its earnings launch, shares in MARA Holdings (MARA) spiked to a excessive of seven.5% in after-hours buying and selling on Tuesday to $17.82 earlier than cooling to $17.22.
MARA closed Tuesday buying and selling down 3.2% at $16.61. Its shares have gained 58% since a droop in mid-April however have largely traded sideways for many of this yr.
Second-largest Bitcoin treasury
MARA mentioned that shortly after the top of Q2, its Bitcoin holdings surpassed 50,000 BTC, which it touted as “solidifying our place because the second-largest company public holder of Bitcoin” behind MicroStrategy.
In the course of the second quarter, MARA mined 2,358 BTC, up 3% from the two,286 produced within the earlier quarter. Its energized hashrate of 57.4 exahashes per second (EH/s) gained 6% from 54.3 EH/s in Q1.
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The agency’s Bitcoin holdings elevated 170% to 49,951 BTC, value round $5.3 billion as of the top of June. It at present holds $5.87 billion value of the asset and is second solely to Technique, which holds a whopping 607,770 BTC value $71 billion.
Eyes on AI development
The agency additionally introduced strategic partnerships with Google-backed TAE Energy Options and LG-backed PADO AI to co-develop grid-responsive, load-balancing platforms for next-generation AI infrastructure.
MARA is concentrating on 75 EH/s by year-end and sees a big alternative within the rising AI and information heart market.
“Our vertically built-in mining operations, giant BTC treasury, budding worldwide power partnerships, and early AI infrastructure investments every contribute distinct and measurable worth,” mentioned CEO Fred Thiel.
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