MARA Holdings, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $907.1M | $656.4M | $387.5M | $117.8M | $159.2M |
| Operating income | -$1.2B | $306.1M | $220.9M | -$673.5M | -$3.0M |
| Operating expenses | — | $465.5M | $236.3M | $639.9M | $119.8M |
| Cash from operations | -$802.7M | -$677.0M | -$315.7M | -$176.5M | -$19.0M |
| Capital expenditure | $407.1M | $250.8M | $27.6M | $41.1M | $273.9M |
| Free cash flow | -$1.2B | -$927.8M | -$343.3M | -$217.6M | -$292.8M |
| Share repurchases | $46.9M | $37.4M | $380,000 | $0 | — |
| Impairments | $109.0M | $0 | $0 | $124.3M | $22.3M |
| Total assets | $7.3B | $6.8B | $2.0B | $1.2B | $1.4B |
| Total liabilities | — | — | — | — | $765.2M |
| Total debt | $3.6B | $2.5B | $330.7M | $747.5M | $747.5M |
Shares outstanding 381.3M · Free float 96.9%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.