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← MARA Holdings
Q4 2025 earningsThu, Feb 26, 2026

MARA reports fourth quarter and full year 2025 results

Source document ↗
Total Revenue202.31M USD
Adjusted EBITDA-1.49B USD
Net Income (Loss)-1.71B USD
Total Cash and Restricted Cash559.13M USD

Key points

  • Q4 revenue $202.3M, net loss $(1,709.8)M. Energized hashrate 66.4 EH/s, below 75 EH/s target. Starwood JV announced for >1GW of AI/HPC capacity.