Key Takeaways
MARA’s Q2 revenue hits all-time high at $238.5 million as adjusted EBITDA jumps 1,093% to $1.2 billion. After-hours trading spike reflects strong investor response to record-setting performance.
MARA Holdings delivered a record-breaking Q2 2025 performance, posting a 64% year-over-year revenue increase to $238.5 million—its highest quarterly revenue to date.
The organization achieved a net income of $808 million, a dramatic turnaround from the $200 million loss a year earlier. Notably, adjusted EBITDA soared 1,093% to $1.2 billion.
The company also reported one of the lowest sector-wide BTC production costs at $33.7K.
These stellar figures have not only validated MARA’s operational strategy but have also reinforced confidence among investors ahead of a high-stakes second half of the year.
After-hours trading spike reflects strong investor confidence
Shortly after the earnings release, MARA stock surged by 7.5% in after-hours trading, briefly hitting $17.82 before settling at $17.22, at press time, up 3.67% from the $16.61 close.
This movement reversed an earlier intraday loss of 3.21%, indicating that market participants viewed the quarterly results as a bullish trigger.
The spike was driven by surprise upside in earnings and a positive outlook on operational efficiency.
Such reactions typically underscore confidence in long-term prospects, and MARA’s performance appeared to meet that expectation with broad market approval.
Source: Google Finance
Bitcoin mining performance underlines operational scale and efficiency
MARA expanded its Bitcoin holdings to 49,951 BTC by the end of Q2, up 170% year-over-year. The firm produced 2,358 BTC during the quarter—a 15% increase despite April’s halving.
Its energized hashrate surged 82% to 57.4 EH/s (Exahashes per Second), while fleet efficiency improved significantly to 18.3 J/TH (Joules per Terahash).
Importantly, MARA activated 31% of its BTC through asset management strategies, boosting its year-to-date BTC yield to 5.2%.
These metrics reflect a well-optimized and diversified approach to mining, signaling that MARA’s Bitcoin strategy remains focused on sustainability, scalability, and asset utility rather than just hoarding reserves.
Source: MARA Holdings
Strategic partnerships set the stage for future expansion
MARA’s expansion strategy includes several high-impact partnerships. Collaborations with Pado AI and TAE Power aim to build scalable, AI-driven load balancing systems to support hyperscale computing and data centers.
Meanwhile, its alliance with Two Prime includes a 2,000 BTC allocation to explore institutional yield opportunities. These moves reflect a clear vision toward combining digital energy innovation with asset monetization.
With over $6 billion in liquidity after July’s convertible note issuance, MARA appears well-positioned to strengthen its leadership in both digital infrastructure and Bitcoin treasury management.
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