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MARAMarathon Digital Holdings, Inc.
$14.22$5.4B
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MARA logoMarathon Digital Holdings, Inc.(MARA)Earnings, Financials & Key Ratios

MARA•NASDAQ•Banking & Credit
Price updated Jun 19, 2026
SectorFinancial ServicesIndustryCapital MarketsSub-IndustryBitcoin Mining and Data Centers
AboutMarathon Digital Holdings, Inc. operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund. The company was formerly known as Marathon Patent Group, Inc. and changed its name to Marathon Digital Holdings, Inc. in February 2021. Marathon Digital Holdings, Inc. was incorporated in 2010 and is headquartered in Las Vegas, Nevada.Show more
  • Net Interest Income$7M+101.2%
  • Total Revenue$907M+38.2%
  • Net Income-$1.31B-342.3%
  • Return on Equity-34.45%-283.1%
  • Net Interest Margin0.1%+84.3%
  • Efficiency Ratio42.91%+160.5%
  • ROA-18.44%-249.8%
  • Equity / Assets46.83%-23.0%
  • Book Value per Share9.79-26.2%

MARA Key Insights

Marathon Digital Holdings, Inc. (MARA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Efficient operations: 42.9% efficiency ratio
  • ✓Momentum leader: RS Rating 83 (top 17%)
  • ✓Well capitalized: 46.8% equity/assets
  • ✓Diversified revenue: 93.8% from non-interest income
  • ✓Trading at only 1.5x book value

✗Weaknesses

  • ✗Weak 3Y average ROE of 3.5%
  • ✗Profits declining 162.9% over 5 years
  • ✗Weak Piotroski F-Score: 3/9
  • ✗Weak NIM of 0.1%
  • ✗Shares diluted 13.9% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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MARA Price & Volume

Marathon Digital Holdings, Inc. (MARA) stock price & volume — 10-year historical chart

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MARA Growth Metrics

Marathon Digital Holdings, Inc. (MARA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years47.21%
5 Years190.87%
3 Years97.5%
TTM-

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-519.2%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-317.36%

Return on Capital

10 Years-105.48%
5 Years-9.85%
3 Years3.04%
Last Year-12.08%

MARA Recent Earnings

Marathon Digital Holdings, Inc. (MARA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 1/12 qtrs (8%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
May 11, 2026
Metric
Actual
Est
EPS
$0.61-32.6%
$0.46
Rev
$175M-4.0%
$182M
Q1 2026
Feb 26, 2026
Metric
Actual
Est
EPS
$0.46-100.0%
$0.23
Rev
$202M-19.8%
$252M
Q4 2025
Nov 4, 2025
Metric
Actual
Est
EPS
$0.32-23.1%
$0.26
Rev
$252M+0.4%
$251M
Q3 2025
Jul 29, 2025
Metric
Actual
Est
EPS
$0.81-52.8%
$0.53
Rev
$238M-6.5%
$255M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 11, 2026
$0.61vs $0.46-32.6%
$175Mvs $182M-4.0%
Q1 2026Feb 26, 2026
$0.46vs $0.23-100.0%
$202Mvs $252M-19.8%
Q4 2025Nov 4, 2025
$0.32vs $0.26-23.1%
$252Mvs $251M+0.4%
Q3 2025Jul 29, 2025
$0.81vs $0.53-52.8%
$238Mvs $255M-6.5%
Based on last 12 quarters of dataView full earnings history →

MARA Peer Comparison

Marathon Digital Holdings, Inc. (MARA) competitors in Bitcoin Mining and Data Centers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
RIOT logoRIOTRiot Platforms, Inc.Direct Competitor10.65B28.10-14.4171.89%-132.76%-28.78%0.10
CLSK logoCLSKCleanSpark, Inc.Direct Competitor4.42B17.2415.39102.21%-67.66%-29.93%0.38
CIFR logoCIFRCipher Mining Inc.Direct Competitor11.84B29.18-13.5748.04%-5.13%-115.53%3.31
IREN logoIRENIREN LimitedDirect Competitor21.4B59.96153.74167.65%31.71%9.12%0.53
HUT logoHUTHut 8 Corp.Direct Competitor14.01B124.44-58.15-90.71%-17.66%0.25
BTDR logoBTDRBitdeer Technologies GroupDirect Competitor4.19B17.9364.0477.33%-68.11%-69.95%1.37
CORZ logoCORZCore Scientific, Inc.Product Competitor9.27B29.16-33.14-37.53%-342.93%
BTBT logoBTBTBit Digital, Inc.Product Competitor706.64M2.17-7-30.65%-146.01%-0.11%0.16

Compare MARA vs Peers

Marathon Digital Holdings, Inc. (MARA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs RIOT

Most directly comparable listed peer for MARA.

Scale Benchmark

vs NVDA

Larger-name benchmark to compare MARA against a more recognizable public peer.

Peer Set

Compare Top 5

vs RIOT, CLSK, CIFR, IREN

MARA Income Statement

Marathon Digital Holdings, Inc. (MARA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Net Interest Income
-4.87M-2.36M-18.26K-2.64K-891.59K-13.96M-7.54M3.71M7.47M5.23M
NII Growth %
-55.23%51.58%99.23%85.54%-33659.37%-1465.75%45.98%149.26%101.18%13202.41%
Net Interest Margin %
-32.33%-45.38%-0.28%-0%-0.06%-1.17%-0.38%0.05%0.1%0.11%
Interest Income
2.79K14.23K33.65K18.34K677.41K1.02M2.81M16.71M55.85M54.39M
Interest Expense
4.87M2.37M51.91K20.98K1.57M14.98M10.35M13M48.38M49.16M
Loan Loss Provision
2.96M2.96M3.91M6.89M40.83M136.44M392.5M802.75M1.29B816.07M
Non-Interest Income
516.83K1.55M1.15M4.34M158.49M116.73M384.7M639.67M851.24M813.43M
Non-Interest Income %
99.46%99.09%97.16%99.58%99.57%99.13%99.28%97.45%93.84%93.73%
Total Revenue
519.62K▲ 0%
1.56M▲ 200.7%
1.19M▼ 24.1%
4.36M▲ 267.6%
159.16M▲ 3553.0%
117.75M▼ 26.0%
387.51M▲ 229.1%
656.38M▲ 69.4%
907.09M▲ 38.2%
867.82M▲ 0%
Revenue Growth %
-98.58%200.67%-24.14%267.61%3553.04%-26.02%229.09%69.38%38.2%132.05%
Non-Interest Expense
6.87M8.3M1.47M7.26M174.35M639.87M-236.25M-465.48M389.23M-144.09M
Efficiency Ratio
1322.09%531.41%123.75%166.63%109.54%543.4%-60.97%-70.92%42.91%-16.6%
Operating Income
-14.18M▲ 0%
-12.08M▲ 14.9%
-4.24M▲ 64.9%
-9.82M▼ 131.6%
-57.59M▼ 486.5%
-673.54M▼ 1069.6%
220.91M▲ 132.8%
306.11M▲ 38.6%
-822.17M▼ 368.6%
146.69M▲ 0%
Operating Margin %
-2729.58%-772.95%-357.66%-225.34%-36.18%-572%57.01%46.64%-90.64%16.9%
Operating Income Growth %
8.98%14.86%64.9%-131.61%-486.55%-1069.61%132.8%38.57%-368.59%-
Pretax Income
-31.44M▲ 0%
-12.75M▲ 59.5%
-3.52M▲ 72.4%
-10.45M▼ 197.0%
-14.52M▼ 39.0%
-718.25M▼ 4846.7%
277.6M▲ 138.6%
616.5M▲ 122.1%
-1.37B▼ 321.9%
-2.01B▲ 0%
Pretax Margin %
-6050.08%-815.76%-296.74%-239.75%-9.12%-609.97%71.64%93.92%-150.84%-231.5%
Income Tax
-103.95K69.13K02K22.58M-24.23M16.43M75.5M-56.38M31.86M
Effective Tax Rate %
0.33%-0.54%0%-0.02%-155.48%3.37%5.92%12.25%4.12%-1.59%
Net Income
-31.33M▲ 0%
-12.81M▲ 59.1%
-3.52M▲ 72.6%
-10.45M▼ 197.1%
-37.1M▼ 255.1%
-694.02M▼ 1770.9%
261.17M▲ 137.6%
541.25M▲ 107.2%
-1.31B▼ 342.3%
-2.04B▲ 0%
Net Margin %
-6030.07%-820.18%-296.74%-239.8%-23.31%-589.39%67.4%82.46%-144.58%-234.83%
Net Income Growth %
-9.31%59.1%72.55%-197.07%-255.05%-1770.88%137.63%107.24%-342.3%-519.2%
Net Income (Continuing)
-31.33M-12.81M-3.52M-10.45M-37.1M-694.02M261.17M541.01M-1.31B-2.04B
EPS (Diluted)
-19.22▲ 0%
-2.41▲ 87.5%
-0.61▲ 74.7%
-0.13▲ 78.7%
-0.37▼ 184.6%
-6.12▼ 1554.1%
1.06▲ 117.3%
1.72▲ 62.3%
-3.69▼ 314.5%
-5.36▲ 0%
EPS Growth %
36.4%87.46%74.69%78.69%-184.62%-1554.05%117.32%62.26%-314.53%-317.36%
EPS (Basic)
-19.22-2.41-0.61-0.13-0.37-6.121.411.87-3.69-
Diluted Shares Outstanding
1.63M5.32M6.66M81.41M99.34M113.47M192.29M311.84M355.17M380.16M

MARA Balance Sheet

Marathon Digital Holdings, Inc. (MARA) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash & Short Term Investments
14.95M2.55M692.96K141.32M587.7M103.7M357.31M391.77M547.13M2.01B
Cash & Due from Banks
14.95M2.55M692.96K141.32M268.56M103.7M357.31M391.77M547.13M525.65M
Short Term Investments
001.14K0319.14M0002.39M1.9M
Total Investments
001.14K0322.14M37M106.29M3.34B1.5B821.26M
Investments Growth %
----100%--88.51%187.28%3038.04%-54.97%40.66%
Long-Term Investments
00003M37M106.29M3.34B1.5B8.28B
Accounts Receivables
6.83K000000000
Goodwill & Intangibles
10.01K1.14M1.07M1M931K206K242K85.47M988K133.61M
Goodwill
000000082.75M090.49M
Intangible Assets
10.01K1.14M1.07M1M931K206K242K2.71M988K43.12M
PP&E (Net)
10.01K1.03M4.05M17.42M276.24M274.3M672.22M1.57B01.44B
Other Assets
-10.01K008.41M479.92M606.19M182.66M1.34B5.26B1.94B
Total Current Assets
15.05M3.02M1.49M286.41M684.24M277.55M1.03B470.37M664.27M611.11M
Total Non-Current Assets
10.01K2.18M5.13M26.84M760.09M917.7M961.17M6.33B6.76B4.34B
Total Assets
15.06M▲ 0%
5.19M▼ 65.5%
6.62M▲ 27.4%
313.25M▲ 4631.9%
1.44B▲ 361.1%
1.2B▼ 17.2%
1.99B▲ 66.6%
6.8B▲ 241.6%
7.42B▲ 9.2%
4.95B▲ 0%
Asset Growth %
-17.66%-65.5%27.44%4631.92%361.08%-17.25%66.57%241.61%9.17%287.32%
Return on Assets (ROA)
-187.93%-126.54%-59.54%-6.53%-4.22%-52.59%16.39%12.31%-18.44%-28%
Accounts Payable
1.96M1.24M1.24M999.74K7.77M1.31M11.34M12.56M12.55M7.84M
Total Debt
1.76M999.11K1.21M184.1K728.41M783.51M326.13M2.47B3.65B2.46B
Net Debt
-13.18M-1.55M514.58K-141.14M459.85M679.81M-31.18M2.08B3.1B1.94B
Long-Term Debt
00999.11K62.5K728.41M782.17M325.65M2.45B3.2B2.22B
Short-Term Debt
1.76M999.11K0000124K0399.74M200.7M
Other Liabilities
00000008.41M12.46M12.68M
Total Current Liabilities
7.67M2.27M1.85M1.44M11.25M26.11M33.76M95.2M521.88M331.47M
Total Non-Current Liabilities
3.73M999.11K1.12M62.5K750.98M783.19M341.29M2.57B3.43B2.28B
Total Liabilities
7.67M2.27M2.97M1.51M762.23M809.3M375.05M2.67B3.95B2.62B
Total Equity
7.39M▲ 0%
2.92M▼ 60.5%
3.65M▲ 24.9%
311.74M▲ 8446.4%
682.1M▲ 118.8%
385.94M▼ 43.4%
1.62B▲ 318.7%
4.14B▲ 155.9%
3.48B▼ 15.9%
2.33B▲ 0%
Equity Growth %
179.55%-60.47%24.88%8446.41%118.8%-43.42%318.7%155.95%-15.93%109.36%
Equity / Assets (Capital Ratio)
49.06%56.23%55.1%99.52%47.23%32.29%81.16%60.81%46.83%47.14%
Return on Equity (ROE)
-424.11%-248.6%-107.09%-6.63%-7.47%-129.96%26.09%18.82%-34.45%-51.65%
Book Value per Share
4.530.550.553.836.873.408.4013.269.796.14
Tangible BV per Share
4.520.330.393.826.863.408.4012.999.795.79
Common Stock
1.25K2.55K8468.2K10K15K24K34K-1.31B38K
Additional Paid-in Capital
97.11M105.46M109.71M428.24M835.69M1.23B2.18B4.16B4.81B4.83B
Retained Earnings
-89.28M-102.09M-105.61M-116.06M-153.6M-840.34M-567.64M-26.39M-1.34B-2.6B
Accumulated OCI
-450.73K-450.72K-450.72K-450.72K00000-4.54M
Treasury Stock
0000000000
Preferred Stock
0000000000

MARA Cash Flow Statement

Marathon Digital Holdings, Inc. (MARA) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
-10.81M-8.24M-3.32M-7.77M-18.22M-176.48M-315.65M-677.02M94.72M62.72M
Operating CF Growth %
-206.25%23.78%59.72%-134.24%-134.36%-868.69%-78.86%-114.48%113.99%-518.59%
Net Income
-31.33M-12.81M-3.52M-10.45M-36.17M-686.74M261.17M541.01M-4.7M-2.04B
Depreciation & Amortization
1.85M2.07M1.08M3.16M15.1M78.71M179.51M426.63M772.77M806.43M
Deferred Taxes
00385.45K1.17M23.02M-22.57M15.29M73.22M56.38M316.01M
Other Non-Cash Items
17.33M5.82M-507.86K992.99K-43.25M606.1M-391.92M-1.7B-748.62M-1.21B
Working Capital Changes
-629.24K-4.74M-1.69M-3.82M-137.7M-176.57M-412.35M-173.89M18.9M522.59M
Cash from Investing
-7.79K-4.16M1.21M-81.29M-891.92M-390.23M4.59M-3.23B-669.92M730.77M
Purchase of Investments
0000-153M-500K-71.8M-1.98B7.69M7.69M
Sale/Maturity of Investments
01.34M1.22M2.1M3M849.78M264.94M152.29M-8.68M-8.68M
Net Investment Activity
01.34M1.22M2.1M-150M849.28M193.15M-1.83B-988K-989K
Acquisitions
0000-3M-44M-71.8M-335.63M22.23M-174.57M
Other Investing
0-250K00-30M-1.15B-89.15M873K-284.09M1.1B
Cash from Financing
20.45M0245.49K229.69M1.04B410.65M555.86M3.95B1.63B289.37M
Dividends Paid
0000000000
Share Repurchases
000000-15.75M-34.86M-46.92M-34.01M
Stock Issued
16.07M0255.89K222.89M312.2M361.49M621.99M1.85B568.56M468.42M
Net Stock Activity
16.07M0255.89K222.89M312.2M361.49M606.24M1.82B521.64M434.41M
Debt Issuance (Net)
1000K0063K1000K1000K-1000K1000K1000K-954K
Other Financing
158.51K0-10.4K-500313.64M-81K-380K4.61M-39.77M-27.84M
Net Change in Cash
9.95M▲ 0%
-12.4M▼ 224.6%
-1.86M▲ 85.0%
140.63M▲ 7668.0%
127.2M▼ 9.6%
-156.05M▼ 222.7%
244.81M▲ 256.9%
46.46M▼ 81.0%
155.36M▲ 234.4%
181.78M▲ 0%
Exchange Rate Effect
317.87K15000000-897.45M-901.09M
Cash at Beginning
5M14.95M2.55M692.96K141.32M268.56M112.5M357.31M403.77M694.79M
Cash at End
14.95M2.55M692.96K141.32M268.52M112.5M357.31M403.77M559.13M525.65M
Interest Paid
1.54M000011.43M7.39M678K2.02M3K
Income Taxes Paid
5.46K00007K723K1.15M32.31M2.05M
Free Cash Flow
-10.82M▲ 0%
-13.74M▼ 27.0%
-3.32M▲ 75.8%
-91.16M▼ 2642.7%
-727.14M▼ 697.6%
-217.59M▲ 70.1%
-343.26M▼ 57.8%
-930.48M▼ 171.1%
-312.35M▲ 66.4%
-385.02M▲ 0%
FCF Growth %
-266.84%-27.03%75.81%-2642.69%-697.62%70.08%-57.76%-171.07%66.43%68.74%

MARA Banking Ratios

Marathon Digital Holdings, Inc. (MARA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)
-424.11%-248.6%-107.09%-6.63%-7.47%-129.96%26.09%18.82%-34.45%-51.65%
Return on Assets (ROA)
-187.93%-126.54%-59.54%-6.53%-4.22%-52.59%16.39%12.31%-18.44%-28%
Net Interest Margin
-32.33%-45.38%-0.28%-0%-0.06%-1.17%-0.38%0.05%0.1%0.11%
Efficiency Ratio
1322.09%531.41%123.75%166.63%109.54%543.4%-60.97%-70.92%42.91%-16.6%
Equity / Assets
49.06%56.23%55.1%99.52%47.23%32.29%81.16%60.81%46.83%47.14%
Book Value / Share
4.530.550.553.836.873.48.413.269.796.14
NII Growth
-55.23%51.58%99.23%85.54%-33659.37%-1465.75%45.98%149.26%101.18%17.52%
Dividend Payout
---------0%
Related:MARA Dividend History·MARA Revenue History·MARA Price History·MARA P/E History·MARA Financial Ratios·MARA Institutional Holders

MARA SEC Filings & Documents

Marathon Digital Holdings, Inc. (MARA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 11, 2026·SEC

Material company update

Apr 30, 2026·SEC

Material company update

Mar 26, 2026·SEC

10-K Annual Reports

2
FY 2026

Mar 2, 2026·SEC

FY 2025

Mar 3, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

May 11, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Jul 29, 2025·SEC

MARA Frequently Asked Questions

Marathon Digital Holdings, Inc. (MARA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Marathon Digital Holdings, Inc. (MARA) grew revenue by 38.2% over the past year. This is strong growth.

Marathon Digital Holdings, Inc. (MARA) reported a net loss of $2.04B for fiscal year 2025.

Dividend & Returns

Marathon Digital Holdings, Inc. (MARA) has a return on equity (ROE) of -34.5%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Marathon Digital Holdings, Inc. (MARA) has a net interest margin (NIM) of 0.1%. NIM has been under pressure due to interest rate environment.

Marathon Digital Holdings, Inc. (MARA) has an efficiency ratio of 42.9%. This is excellent, indicating strong cost control.

What if you invested $1,000 in MARA back in 2011?

Total return calculator · dividends reinvested · 15+ years of data

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How much would $100/month in MARA be worth today?

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