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Marathon Digital Holdings Inc (MARA) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · CAPITAL MARKETS · DATA UPDATED 2026-08-23

Marathon Digital Holdings Inc (MARA) operates in the CAPITAL MARKETS industry and is headquartered in Hallandale Beach, United States with about 266 employees. Its market capitalization is roughly $5 billion. In the fiscal year ended 2025-12-31, MARA reported $907M in revenue and ($1.3B) in net income.

MARA Holdings, Inc. operates as an energy and digital infrastructure company in North America, the Middle East, Europe, and Latin America.

Interactive charts & full statements → Open the MARA valuation workbench →

MARA Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31
Total Revenue	$804M	$907M	$656M	$388M	$118M	$159M	$4M	$1M	$2M	$1M	$37M	$19M	$21M	$3M	$0M	$0M
Gross Profit	($339M)	($433M)	($159M)	($15M)	($34M)	$117M	($3M)	($3M)	($4M)	($7M)	$5M	($3M)	$6M	$2M	($3M)	$0M
Gross Margin %	-42.2%	-47.7%	-24.3%	-4.0%	-28.6%	73.4%	-58.7%	-233.9%	-241.5%	-1407.5%	12.6%	-16.1%	26.7%	72.0%	-1808.9%	—
Operating Income (EBIT)	($786M)	($822M)	$306M	$221M	($674M)	($58M)	($10M)	($4M)	($12M)	($14M)	($16M)	($26M)	($6M)	($4M)	($6M)	$0M
Operating Margin %	-97.8%	-90.6%	46.6%	57.0%	-572.0%	-36.2%	-225.3%	-357.7%	-772.9%	-2729.6%	-42.5%	-135.3%	-29.0%	-107.5%	-3744.8%	—
Net Income	($3.5B)	($1.3B)	$541M	$261M	($694M)	($37M)	($10M)	($4M)	($13M)	($31M)	($29M)	($17M)	($2M)	($3M)	($7M)	$0M
Net Margin %	-430.0%	-144.6%	82.5%	67.4%	-589.4%	-23.3%	-239.8%	-296.7%	-820.2%	-6030.1%	-78.3%	-89.3%	-8.8%	-100.9%	-4682.1%	—
EBITDA	($1.4B)	($547M)	$1.1B	$467M	($625M)	$2M	($7M)	($2M)	($8M)	($25M)	($7M)	($10M)	($1M)	($3M)	($6M)	$0M
Earnings Per Share (EPS)	$-9.46	$-3.69	$1.74	$1.36	$-6.12	$-0.37	$-0.13	$-0.53	$-2.41	$-19.22	$-30.22	$-19.08	$-2.58	$-3.00	$-19.88	$-0.26
Shares Outstanding (M)	382M	355M	312M	192M	113M	99M	—	7M	5M	2M	1M	1M	1M	1M	0M	0M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MARA Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$175M	$175M	$202M	$252M	$238M	$214M	$214M	$132M
Gross Profit	($145M)	($162M)	($241M)	$209M	$197M	$170M	($53M)	($67M)
Gross Margin %	-82.7%	-93.0%	-119.2%	82.9%	82.5%	79.7%	-24.6%	-50.9%
Operating Income (EBIT)	($253M)	($249M)	($332M)	$48M	$680M	($541M)	$341M	($172M)
Operating Margin %	-144.4%	-142.5%	-164.0%	18.9%	285.0%	-253.0%	159.1%	-130.8%
Net Income	($610M)	($1.3B)	($1.7B)	$123M	$808M	($533M)	$529M	($125M)
Net Margin %	-348.6%	-721.4%	-845.0%	48.8%	338.9%	-249.3%	246.5%	-94.8%
EBITDA	($78M)	($57M)	($1.6B)	$341M	$1.2B	($485M)	$792M	($70M)
Earnings Per Share (EPS)	$-1.60	$-3.31	$-4.81	$0.26	$1.83	$-1.55	$1.26	$-0.42
Shares Outstanding (M)	382M	380M	355M	470M	441M	344M	420M	295M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MARA Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31
Cash from Operations (CFO)	($895M)	($803M)	($677M)	($316M)	($176M)	($18M)	($8M)	($3M)	($8M)	($11M)	$10M	($3M)	$4M	($2M)	($1M)	$0M
Capital Expenditures (CapEx)	$343M	$407M	$253M	$28M	$41M	$709M	$83M	$0M	$6M	$0M	$4M	$0M	$8M	$3M	$1M	$0M
Free Cash Flow (FCF)	($1.2B)	($1.2B)	($930M)	($343M)	($218M)	($727M)	($91M)	($3M)	($14M)	($11M)	$6M	($3M)	($3M)	($5M)	($2M)	$0M
FCF Margin %	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Dividends Paid	—	—	—	—	$0M	$5M	$0M	—	—	$0M	$0M	$0M	$1M	$0M	$0M	$0M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MARA Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	($224M)	($247M)	($225M)	($199M)	($163M)	($215M)	($313M)	($441M)
Capital Expenditures (CapEx)	$14M	$80M	$164M	$85M	$119M	$39M	$189M	$38M
Free Cash Flow (FCF)	($239M)	($327M)	($389M)	($284M)	($282M)	($254M)	($503M)	($479M)
FCF Margin %	—	—	—	—	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MARA Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31
Total Assets	$4.3B	$7.3B	$6.8B	$2.0B	$1.2B	$1.4B	$313M	$7M	$5M	$15M	$18M	$47M	$59M	$13M	$4M	$0M
Cash & Cash Equivalents	$421M	$547M	$392M	$357M	$104M	$269M	$141M	$1M	$3M	$15M	$5M	$3M	$5M	$4M	$2M	$0M
Total Liabilities	$2.6B	$3.8B	$2.7B	$375M	$809M	$765M	$2M	$3M	$2M	$8M	$28M	$35M	$35M	$1M	$0M	$0M
Total Debt (Short + Long-Term)	$2.4B	$3.6B	$2.4B	$326M	$782M	$1.5B	$0M	$1M	$1M	$2M	$18M	$23M	$22M	$0M	$0M	$0M
Total Shareholders' Equity	$1.7B	$3.5B	$4.1B	$1.6B	$386M	$683M	$312M	$4M	$3M	$7M	($9M)	$13M	$24M	$12M	$4M	$0M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MARA viewer.

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