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Marathon Digital Holdings MARA Total Cost of Revenue

Discontinued — last reported Q4 '24

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Other financials

Income statement

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Revenue$174.9M-26.7%
Gross profit-$52.8M
Operating income-$521.1M-177%
Net income-$611.3M-176%
EPS (diluted)-$1.60-187%

Balance sheet

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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

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

Valuation

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Market cap$4.06B-31.0%
Enterprise value$6.09B-24.4%
P/S5.1×-2.3×

Profitability

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Gross margin-24.3%
Operating margin-366.3%-405pp
Net margin-430.2%-515pp
FCF margin-154%-0.6pp

Returns & leverage

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

Where this comes from

Reported directly by Marathon Digital Holdings in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The source filing: Marathon Digital Holdings’s 10-K, filed March 3, 2025.

Filed
Mar 3, 2025
Fiscal year
FY2024
Accession
0001507605-25-000003
(in thousands, except share and per share data)Year Ended December 31, 2024Year Ended December 31, 20232022
Cost of revenues
Mining and hosting services(412,045)(223,338)(72,715)
Depreciation and amortization(403,706)(179,513)(78,709)
Total cost of revenues(815,751)(402,851)(151,424)
Operating expenses
General and administrative expenses(272,078)(92,418)(56,641)
Change in fair value of digital assets813,814331,484(14,460)
Change in fair value of derivative instrument(2,043)

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Marathon Digital Holdings's total cost of revenue?
Marathon Digital Holdings (MARA) reported total cost of revenue of $267.19M in Q4 2024.
How has Marathon Digital Holdings's total cost of revenue changed year-over-year?
Marathon Digital Holdings's total cost of revenue increased by 82.9% year-over-year, from $146.07M to $267.19M.
What is the long-term trend for Marathon Digital Holdings's total cost of revenue?
Over 3 years (2021 to 2024), Marathon Digital Holdings's total cost of revenue has grown at a 168.0% compound annual growth rate (CAGR), from $42.4M to $815.75M.
What does total cost of revenue mean?
The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.

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