MARA reports $632M Q3 profit on bitcoin fair-value gains and sells $1.1B in BTC to clear debt
MARA Holdings posted a third-quarter net profit of over $632 million, propelled by roughly $885 million in digital asset fair-value gains that offset a 35% drop in revenue. Following the quarter, the bitcoin miner sold 13,597 bitcoin for about $1.1 billion to fully repay $750 million in bitcoin-backed debt.
MARA Holdings reported third-quarter 2026 net income of $632.1 million—with The Block citing a net profit of $634.4 million, up from $123.1 million a year earlier—even as revenue dropped 35% year-over-year to $164.2 million. The surge in earnings was largely driven by an $885.3 million fair-value gain on digital assets and bitcoin receivables, which countered a 37% decline in block reward income. Wall St Engine reported earnings per share of $1.28, beating expectations of a $0.12 loss, while adjusted EBITDA reached $857.7 million.[5][6][8][9]
After the quarter closed, the mining company sold 13,597 bitcoin at an average price of $81,039, bringing in approximately $1.1 billion. MARA used $750 million of the proceeds to completely pay off its bitcoin-collateralized loans, which released 17,477 BTC previously held as collateral. The company held 34,012 bitcoin as of September 30, down 36% from the prior year.[1][5][6][7][9]
Operational metrics showed energized hashrate expanding 18% year-over-year to 71.2 EH/s, while quarterly production reached 2,247 BTC across 644 blocks won. MARA also announced corporate initiatives, including an authorization to buy back up to $500 million in shares, and ongoing diversification into artificial intelligence and energy infrastructure. According to Cointelegraph, subsidiary Exaion secured a $79 million four-year GPU-as-a-service contract, alongside power expansion targets that include up to 2 GW of capacity at a site in Matagorda County, Texas.[2][4][5][9]
Key facts
- MARA Holdings generated Q3 2026 revenue of $164.2 million, down 35% year-over-year and below the estimated $182 million.
- Net income reached $632.1 million (reported as $634.4 million by The Block), bolstered by an $885.3 million fair-value gain on digital assets.
- Block reward income fell 37% year-over-year during the quarter.
- Following the quarter, MARA sold 13,597 BTC at an average price of $81,039, grossing roughly $1.1 billion.
- MARA used $750 million from the bitcoin sale to fully repay bitcoin-backed debt, releasing 17,477 BTC held as collateral.
- MARA held 34,012 BTC as of September 30, 2026, marking a 36% decline year-over-year.
- The company authorized a share repurchase program of up to $500 million.
- Subsidiary Exaion secured a $79 million four-year GPU-as-a-service contract as MARA expands into AI and energy infrastructure.
Sources · 8 sources
- TW
The Wolf Of All Streets@scottmelkerPost on X ·
MARA HOLDINGS $MARA SELLS 13,597 BITCOIN $BTC FOR ABOUT $1.1B AND FULLY REPAYS $750M IN BITCOIN-BACKED LOANS https://t.co/SD26ggwiKE
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🔥 BIG: Bitcoin miner MARA outlined plans to expand its AI and energy infrastructure business in its Q3 2026 shareholder letter, including a Texas site with up to 2 GW of potential power capacity. Its subsidiary Exaion secured a $79 million GPU-as-a-service contract, while MARA repaid $750 million in Bitcoin-backed debt following $BTC sales. The company also authorized a share buyback program of up to $500 million.
Open source - TB
The BlockArticle ·
MARA posts $634 million Q3 net profit on bitcoin gains, sells 13,597 BTC to pay off loans MARA posted a $634.4 million Q3 net profit, then sold 13,597 BTC to repay $750 million in loans as it pivots to AI.
Open source - CB
Crypto BriefingArticle ·
MARA lays out AI expansion plans and lands a $79M GPU contract MARA's strategic shift towards AI and energy diversification could reduce crypto dependency, but hinges on regulatory approvals and execution. The post MARA lays out AI expansion plans and lands a $79M GPU contract appeared first on Crypto Briefing .
Open source - WS
Wall St Engine@wallstenginePost on X ·
$MARA HOLDINGS Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $164.2M (Est. $182M) 🔴; -35% YoY 🔹 EPS: $1.28 (Est. -$0.12) 🟢; +374% YoY 🔹 Adj. EBITDA: $857.7M (Est. $16.3M) 🟢 🔹 Net Income: $632.1M Announcements: 🔹 Exaion: $79M four-year GPU-as-a-service contract; over $3B pipeline; approximately $1B targeted for delivery by end of 2027 🔹 Long Ridge: 485 MW authorized; 505 MW nameplate; over 1 GW potential capacity 🔹 Matagorda County: up to 2 GW power capacity Other Q3 Metrics: 🔹 Energized Hashrate: 71.2 EH/s; +18% YoY 🔹 BTC Holdings: 34,012 bitcoin 🔹 BTC Produced: 2,247 BTC; +5% YoY 🔹 Blocks Won: 644; +2% YoY 🔹 Cost per Petahash per Day: $30.8; -2% YoY 🔹 Cost per kWh: $0.04 Key Updates: 🔹 Fair-value gain on digital assets: $885.3M included in net income and Adj. EBITDA 🔹 Share Repurchase Authorization: up to $500M after quarter-end
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: MARA Holdings reported Q3 net profit of $634.4 million, compared with $123.1 million a year earlier, despite revenue falling 35% year over year to $164.2 million. Profit was driven largely by bitcoin appreciation, with the company recording nearly $885 million in fair-value gains on its digital assets and bitcoin receivables, while mining revenue declined as block reward income fell 37%. Separately, $MARA said it sold 13,597 bitcoin for approximately $1.1 billion after the quarter ended, using $750 million to fully repay its bitcoin-collateralized loans.
Open source - KC
Kalshi Crypto@Kalshi_CryptoPost on X ·
JUST IN: MARA Holdings sells $1.1B worth of Bitcoin
Open source - CB
Crypto BriefingArticle ·
MARA Holdings posts $632.1 million Q3 profit as Bitcoin gains offset revenue drop MARA's reliance on Bitcoin's market value for profit highlights the volatility risk, while diversification efforts may stabilize future earnings. The post MARA Holdings posts $632.1 million Q3 profit as Bitcoin gains offset revenue drop appeared first on Crypto Briefing .
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
MARA, a Leading Listed Bitcoin Miner, Sells $1.1 Billion in BTC as Revenue Falls 35% MARA, one of the world's largest publicly traded Bitcoin mining companies, disclosed in its Q3 2026 earnings that it sold 13,597 BTC after quarter-end at an average price of $81,039, raising approximately $1.1 billion. The proceeds were used to fully repay $750 million in Bitcoin-backed loans, releasing 17,477 BTC previously pledged as collateral. Q3 revenue fell 35% year-over-year to $164.2 million, while net income reached $632 million, largely driven by $885 million in digital asset fair-value gains. As of September 30, MARA held 34,012 BTC, down 36% year-over-year, and mined 2,247 BTC during the quarter, up 5%.
Open source