MARA Holdings Crushes Q2 Estimates with Stellar 64% Revenue Surge

MARA Holdings just flexed its financial muscle—posting a 64% year-on-year revenue explosion that left analysts scrambling to upgrade their spreadsheets.

The Bitcoin Backbone

While traditional finance clings to single-digit growth, MARA’s mining-heavy strategy continues printing digital gold at scale. No wonder Wall Street’s suddenly whispering about 'asymmetric upside'—translation: they missed the boat.

Cynic’s Corner

Let’s see if the suits try to take credit for this rally—after spending 2023 calling crypto a 'fad.' Pro tip: follow the hash rate, not the hot takes.

MARA’s revenue compared to previous quarters. Source: MARA Holdings

MARA shares gain after hours

With its earnings release, shares in MARA Holdings (MARA) spiked to a high of 7.5% in after-hours trading on Tuesday to $17.82 before cooling to $17.22.

MARA stock spikes in after-hours trading. Source: Google Finance

MARA closed Tuesday trading down 3.2% at $16.61. Its shares have gained 58% since a slump in mid-April but have largely traded sideways for most of this year.

Second-largest Bitcoin treasury

MARA said that shortly after the end of Q2, its bitcoin holdings surpassed 50,000 BTC, which it touted as “solidifying our position as the second-largest corporate public holder of Bitcoin” behind MicroStrategy.

During the second quarter, MARA mined 2,358 BTC, up 3% from the 2,286 produced in the previous quarter. Its energized hashrate of 57.4 exahashes per second (EH/s) gained 6% from 54.3 EH/s in Q1.

The firm’s Bitcoin holdings increased 170% to 49,951 BTC, worth around $5.3 billion as of the end of June. It currently holds $5.87 billion worth of the asset and is second only to Strategy, which holds a whopping 607,770 BTC worth $71 billion.

Eyes on AI growth 

The firm also announced strategic partnerships with Google-backed TAE Power Solutions and LG-backed PADO AI to co-develop grid-responsive, load-balancing platforms for next-generation AI infrastructure.

MARA is targeting 75 EH/s by year-end and sees a significant opportunity in the growing AI and data center market. 

“Our vertically integrated mining operations, large BTC treasury, budding international energy partnerships, and early AI infrastructure investments each contribute distinct and measurable value,” said CEO Fred Thiel.