MARA reported Q4 2025 revenue of USD 202 million, down 6% YoY. Net loss attributable to common stockholders was USD 1.7 billion (USD 4.52 per share), and adjusted EBITDA was a loss of USD 1.5 billion. Liquidity (cash and BTC holdings) was about USD 5.3 billion at end-Q4 2025, with cash and cash equivalents of USD 547.1 million. Operationally, MARA said energized hashrate rose 25% YoY to 66.4 EH/s, while BTC production fell 19% YoY to 2,011 BTC and blocks won declined 15% YoY to 595. BTC holdings increased 20% to 53,822 at end-Q4 2025. MARA also highlighted a strategic partnership with Starwood Digital Ventures to convert and expand select MARA sites into AI, enterprise and high-performance computing digital infrastructure, targeting more than 1 GW of near-term IT capacity across its existing portfolio and a pathway to more than 2.5 GW over time; MARA said design, permitting and commercial leasing processes are underway, with applications submitted in select markets, and it has the option to invest up to 50% in JV projects.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Mara Holdings Inc. published the original content used to generate this news brief on February 26, 2026, and is solely responsible for the information contained therein.