What is Marathon Digital Holdings's gross margin?

Marathon Digital Holdings (MARA) reported gross margin of -24.3% in Q4 2024.

What is the long-term trend for Marathon Digital Holdings's gross margin?

Over 3 years (2020 to 2024), Marathon Digital Holdings's gross margin has grown at a -25.5% compound annual growth rate (CAGR), from -58.7% to -24.3%.

What does gross margin mean?

Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.

Marathon Digital Holdings MARA Gross margin

Gross margin at other companies

CleanSparkCLSK

55.2%-1.1pp

AmazonAMZN

50.6%+1.4pp

Core Scientific, Inc.CORZ

16.9%+4.3pp

Iris EnergyIREN

68.4%+3.9pp

TeraWulfWULF

64%+19.1pp

Cipher Digital, Inc. CIFR

60%+1.0pp

Other financials

Income statement

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Revenue$174.6M-18.4%

Gross profit-$52.8M—

Operating income-$1.1B-96.2%

Net income-$1.3B-137%

EPS (diluted)-$3.31-114%

Balance sheet

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Cash & equivalents$525.7M+152%

Total debt$2.5B+5.4%

Total equity$2.2B-40.1%

Total assets$4.9B-23.2%

Cash flow

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Operating cash flow-$247.5M-14.9%

CapEx$79.5M+105%

Free cash flow-$327.0M-28.6%

Valuation

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Market cap$5.42B-22.0%

Profitability

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Operating margin-201%-785pp

Net margin-235.1%-313pp

FCF margin-147.8%-5.6pp

Returns & leverage

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Return on equity-68.5%-83.9pp

Debt / equity1.1×+0.5×

Current ratio1.8×+1.1×

Where this comes from

Calculated from Marathon Digital Holdings’s reported figures.

gross profit/total revenue=-24.3%

Based on trailing twelve months.

The official record: Marathon Digital Holdings’s 10-K, filed March 2, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Marathon Digital Holdings's gross margin?: Marathon Digital Holdings (MARA) reported gross margin of -24.3% in Q4 2024.
What is the long-term trend for Marathon Digital Holdings's gross margin?: Over 3 years (2020 to 2024), Marathon Digital Holdings's gross margin has grown at a -25.5% compound annual growth rate (CAGR), from -58.7% to -24.3%.
What does gross margin mean?: Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.