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Crypto mining steadfast MARA Holdings’ Q2 revenues jumped 64% from a twelvemonth agone to $238 million, driven by Bitcoin appreciation and expanded mining operations.
Bitcoin miner MARA Holdings bushed expert expectations successful its second-quarter earnings, which saw its stock terms somewhat summation after-hours.
MARA Holdings’ revenues accrued 64% year-on-year to $238 million, up from $145 cardinal successful Q2 2024 and besides gaining from its $214 cardinal revenues successful the archetypal 4th of 2025, the institution said connected Tuesday.
The firm’s gross bushed expert expectations of $223.7 cardinal portion its nett income surged 505% compared to a twelvemonth agone to $808 million, up from a nonaccomplishment of conscionable nether $200 cardinal successful Q2 2024.
The income summation was mostly driven by a $1.2 cardinal unrealized summation from Bitcoin (BTC) appreciation implicit the period. The plus gained 31% implicit the three-month play ending June 30.
MARA’s gross compared to erstwhile quarters. Source: MARA Holdings MARA shares summation aft hours
With its net release, shares successful MARA Holdings (MARA) spiked to a precocious of 7.5% successful after-hours trading connected Tuesday to $17.82 earlier cooling to $17.22.
MARA banal spikes successful after-hours trading. Source: Google FinanceMARA closed Tuesday trading down 3.2% astatine $16.61. Its shares person gained 58% since a slump successful mid-April but person mostly traded sideways for astir of this year.
Second-largest Bitcoin treasury
MARA said that soon aft the extremity of Q2, its Bitcoin holdings surpassed 50,000 BTC, which it touted arsenic “solidifying our presumption arsenic the second-largest firm nationalist holder of Bitcoin” down MicroStrategy.
During the 2nd quarter, MARA mined 2,358 BTC, up 3% from the 2,286 produced successful the erstwhile quarter. Its energized hashrate of 57.4 exahashes per 2nd (EH/s) gained 6% from 54.3 EH/s successful Q1.
Related: Mara to rise up to $1B for Bitcoin and operations via indebtedness sale
The firm’s Bitcoin holdings increased 170% to 49,951 BTC, worthy astir $5.3 cardinal arsenic of the extremity of June. It presently holds $5.87 cardinal worthy of the plus and is 2nd lone to Strategy, which holds a whopping 607,770 BTC worthy $71 billion.
Eyes connected AI growth
The steadfast besides announced strategical partnerships with Google-backed TAE Power Solutions and LG-backed PADO AI to co-develop grid-responsive, load-balancing platforms for next-generation AI infrastructure.
MARA is targeting 75 EH/s by year-end and sees a important accidental successful the increasing AI and information halfway market.
“Our vertically integrated mining operations, ample BTC treasury, budding planetary vigor partnerships, and aboriginal AI infrastructure investments each lend chiseled and measurable value,” said CEO Fred Thiel.
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