Bitcoin miner Marathon Digital turns a profit in Q3 year-on-year: mining output increases by only 5%, revenue growth relies on BTC price surge
According to Jinse Finance, citing Yahoo Finance, bitcoin mining company Marathon Digital Holdings Inc (MARA) released its financial report for the third quarter of fiscal year 2025 on November 4. The company turned profitable, shifting from a net loss of $124.8 million in the same period last year to a net profit of $123.1 million; revenue increased by 92% year-on-year to $252.4 million, which was below market expectations. The report stated that Marathon mined 2,144 bitcoins in the third quarter, with the number of blocks captured increasing by only 5% year-on-year. This means that 92% of the company's revenue growth was almost entirely driven by an 88% year-on-year increase in the average price of bitcoin, rather than an increase in mining volume.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
British Pound reflects mixed performance at the start of UK data-packed week
Core inflation is 'quite close' to 2%! Bank of Japan Governor adopts a hawkish stance: There is still room for further interest rate hikes.
Bank of Japan Governor Kazuo Ueda stated that the current level of core inflation is "already quite close" to the central bank's 2% inflation target. The strong global demand for artificial intelligence (AI), combined with inflationary pressures from a tight labor market, has left room for future interest rate hikes.
Euro: Range trading bias around recent rebound against US Dollar– UOB
Crypto prices
More
