Catenaa, Wednesday, July 30, 2025-Bitcoin miner MARA Holdings Inc. reported a 1,093% year-on-year increase in adjusted EBITDA for the second quarter, reaching $1.2 billion and marking the strongest quarterly performance in the company’s history.
The surge comes amid soaring Bitcoin prices and heightened institutional demand for the digital asset.
MARA, which trades under the ticker MARA, also posted a net income of $808.2 million in Q2, reversing a $200 million loss during the same period in 2024. Quarterly revenue rose 64% year on year to $238 million, further signaling the company’s rapid recovery from earlier losses.
The company’s Bitcoin holdings climbed 170% compared to last year, totaling 49,951 BTC. MARA said the majority of these assets were mined rather than purchased, a distinction it emphasized to differentiate itself from firms following the “Bitcoin-as-treasury” model.
With its latest balance sheet, MARA becomes the second-largest corporate Bitcoin holder, trailing only Strategy. The firm also revealed it has raised $940.5 million to fund future Bitcoin acquisitions and bolster general operations.
The turnaround follows a weak first quarter when MARA posted a $533 million loss. Fellow miner CleanSpark also reported losses that quarter. The landscape shifted significantly in Q2 as Bitcoin touched new highs and spot ETFs gained momentum, drawing institutional interest and reviving crypto-mining economics.
MARA’s results position it at the center of a resurgent Bitcoin mining sector benefiting from broader market confidence and strategic corporate adoption of digital assets.
