MARA Holdings (MARA) reported a fourth quarter 2025 net loss of $1.71 billion, or $4.52 per diluted share, compared with net income of $528.3 million, or $1.24 per diluted share, in the same period a year earlier.\u00a0<\/p>\n
Its shareholder letter<\/a> filed with the US Securities and Exchange Commission (SEC) said revenue in Q4 fell 6% to $202.3 million from $214.4 million in the year-earlier period, as a lower average Bitcoin (BTC<\/a>) price outweighed the impact of a higher hashrate.\u00a0<\/p>\n For the full year 2025, MARA booked a net loss of $1.31 billion, compared with net income of $541 million in 2024, even though its revenue rose to $907.1 million from $656.4 million. <\/p>\n \u200bThe company said that its Q4 net income was hit by a $1.5 billion negative change in the fair value of digital assets and digital assets receivable, reflecting the decline in Bitcoin\u2019s price from around<\/a> $114,300 on Sept. 30 to $88,800 on Dec. 31, according to data from CoinGecko.<\/p>\n The company\u2019s share price also took a beating, with MARA stock down 46%<\/a> in the past six months.<\/p>\n On the production side, MARA said that it mined 2,011 BTC in Q4 2025, down 6% from 2,144 BTC in the prior quarter and 2,492 BTC in the year-earlier period. It mined 8,799 BTC for the full year, compared with 9,430 BTC in 2024.\u00a0<\/p>\n Related: <\/strong><\/em>Bitdeer sells all Bitcoin, Metaplanet rejects misconduct claims: Asia Express<\/strong><\/em><\/a><\/p>\n The company said that it ended 2025 holding 53,822 BTC, including 15,315 BTC loaned or pledged as collateral, with its balance sheet BTC valued at about $4.7 billion at a quarter\u2011end spot price of $87,498 per coin.<\/p>\n Alongside the numbers, MARA used its Q4 shareholder letter to outline a multi\u2011year shift \u201cfrom a pure\u2011play Bitcoin miner into an energy and digital infrastructure company,\u201d announcing a strategic joint venture with Starwood Digital Ventures to develop artificial intelligence (AI) and high\u2011performance compute (HPC) data centers at its power\u2011rich sites.<\/p>\n MARA said the Starwood partnership was designed to support more than 1 gigawatt of IT capacity in its initial phase, with a roadmap that could extend above 2.5 gigawatts over time, giving MARA the option to invest up to 50% in individual projects while continuing to mine where power remains attractive.<\/p>\n \u200bThe company also highlighted its acquisition of a 64% stake in Exaion<\/a> in February to target \u201csovereign\u2011grade\u201d and enterprise AI deployments.<\/p>\n MARA\u2019s hybrid approach comes as other major miners continue to experiment with different playbooks in response to the latest Bitcoin drawdown.\u00a0<\/p>\n Hut 8 reported a fourth\u2011quarter net loss<\/a> of $279.7 million on Wednesday, as it leans into a $7 billion AI data center lease. Trump\u2011backed American Bitcoin reported a $59.5 million Q4 2025 loss<\/a> on Thursday, yet it continues to double down on its mine-and-hoard BTC model.<\/p>\n Magazine: <\/strong><\/em>South Korea gets rich from crypto\u2026 North Korea gets weapons<\/strong><\/em><\/a><\/p>\n <\/div>\n MARA Holdings (MARA) reported a fourth quarter 2025 net loss of $1.71 billion, or $4.52 per diluted share, compared with net income of $528.3 million, or $1.24 per diluted share, in the same period a year earlier.\u00a0 Its shareholder letter filed with the US Securities and Exchange Commission (SEC) said revenue in Q4 fell 6% […]<\/p>\n","protected":false},"author":2,"featured_media":420811,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-420808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/420808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=420808"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/420808\/revisions"}],"predecessor-version":[{"id":420812,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/420808\/revisions\/420812"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/420811"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=420808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=420808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=420808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c9e21-7038-7599-9f58-700dddd9eaf7.png\" "\\"\\"\/")
\u200bMARA\u2019s AI and high\u2011performance compute push<\/h2>\n
\u200bMiners diverge on strategy as drawdown bites<\/h2>\n