Skip to content
Screener
Marathon Digital Holdings logo

Marathon Digital Holdings

MARA

MARA Holdings is an energy and digital infrastructure company that leverages Bitcoin mining as a flexible, energy-responsive workload to monetize excess power and optimize energy management.

Market cap
$4.44B-30.8%
Revenue$804.2M+0.7%
Net income-$3.5B-610%
Free cash flow-$1.2B-0.3%
EPS (diluted)-$9.23-699%
Trailing twelve months · change vs. prior year

Earnings

Next report

Nov 3, 2026 (in 2 months)
Revenue estimate$181.3M
EPS estimate-$0.10

Financials

Q2 2026

Income statement

See full
Revenue$174.9M-26.7%
Operating income-$521.1M-177%
Net income-$611.3M-176%
EPS (diluted)-$1.60-187%

Balance sheet

See full
Cash & equivalents$433.3M+257%
Total debt$2.5B+7.4%
Total equity$1.7B-65.3%
Total assets$4.3B-43.7%

Cash flow

See full
Operating cash flow-$223.8M-36.9%
CapEx$14.8M-87.6%
Free cash flow-$238.5M+15.5%

Valuation & ratios

Valuation

See full
Market cap$4.44B-30.8%
Enterprise value$6.48B-20.9%
P/S5.5×-2.0×

Profitability

See full
Operating margin-366.3%-405pp
Net margin-430.2%-515pp
FCF margin-154%-0.6pp

Returns & leverage

See full
Return on equity-107.2%-126pp
Debt / equity1.5×+1.0×
Current ratio0.9×+0.4×

Segments

By product

See full
Mining participant$12.8M+15.8%
Mining operator - transaction fees$1.0M-65.7%
Hosting services--100%

Competitors

Profile

MARA Holdings is an energy and digital infrastructure company that leverages Bitcoin mining as a flexible, energy-responsive workload to monetize excess power and optimize energy management. The company is strategically transitioning from an asset-light model to owning and controlling its power and data center infrastructure across four continents. Beyond its core mining operations, the company is expanding into high-performance computing (HPC) and artificial intelligence (AI) inference to diversify its compute-intensive service offerings.

Competitive position

One of the largest publicly traded holders of bitcoin and a leading global operator of energized hashrate capacity.

GeographiesNorth America, Middle East, Europe, Latin America
Customer segmentsBlockchain networks, Enterprise technology users, Institutional investors
Business modelInfrastructure-as-a-Service, Asset-heavy mining, Digital asset management
SuppliersEnergy producers, ASIC hardware manufacturers, Data center cooling systems, Electrical grid operators
CustomersBitcoin network participants, Digital asset exchanges, AI and HPC software developers, Institutional crypto borrowers
Listed2011
Employees60.0
CEOFrederick G. Thiel
Websitemara.com
FilingsSEC EDGAR

FAQ

What is Marathon Digital Holdings's market cap?
Marathon Digital Holdings (MARA) has a market capitalization of $4.4B and trades on NASDAQ.
What is Marathon Digital Holdings's revenue and profitability?
Marathon Digital Holdings generated $804.2M in trailing twelve-month revenue with a net loss of $3.5B, representing a net margin of -430.2%. Gross margin stands at -24.3%, with free cash flow of -$1.2B. The latest reported period is Q2 2026.
Who are Marathon Digital Holdings's competitors?
Marathon Digital Holdings's key competitors include Core Scientific, Inc., CleanSpark, Inc., Riot Platforms, Inc., and others. These companies compete in similar markets and product categories.
Who does Marathon Digital Holdings partner with?
Marathon Digital Holdings's notable partners include Starwood Digital Ventures, MPLX LP, Abu Dhabi Global Markets company.
What subsidiaries does Marathon Digital Holdings have?
Marathon Digital Holdings's subsidiaries include Exaion SaS.
Where is Marathon Digital Holdings headquartered?
Marathon Digital Holdings is headquartered in United States of America and employs approximately 60 people. It has been publicly traded since 2011.