MARA Holdings recorded a sharp reversal in its performance in Q4 2025. The firm recorded a net loss of $1.71 billion. This is a net profit of $528.3 million recorded in the same period last year.
According to a recent report, revenue for the quarter fell 6% to $202.3 million. The decline followed a significant drop in Bitcoin prices that erased earlier gains from stronger hash rates.
The largest factor in a quarter was a $1.5 billion negative revaluation of its digital assets. This adjustment reflected the lower market price of Bitcoin during this period. This also impacted its holdings of MARA on its balance sheet.
MARA’s Full-Year Loss Widens as Bitcoin Production Drops
For its full-year results, MARA reported a net loss of $1.31 billion for 2025. The company had reported a net income of $541 million for the prior year. The company’s annual revenue was $907.1 million, an increase from $656.4 million for 2024.
Bitcoin production declined for Q4. The company mined 2,011 Bitcoin, a decrease of 6% from Q3. This is also lower than its production of 2,492 Bitcoin for the prior year’s quarter. The company produced 8,799 Bitcoin for 2025, lower than its production of 9,430 Bitcoin for the prior year.
MARA ended the quarter with a total of 53,822 BTC in its reserves. This includes the 15,315 BTC that was pledged as collateral. The total value was approximately $4.7 billion at a price of $87,498 per Bitcoin for the quarter.
Also Read: Bitcoin’s (BTC) Brutal 50% Crash Sparks Bold Revival Bet
The company’s share price declined by 40.57% over the past six months. This was due to weaker market conditions as well as the adoption of new accounting standards.
Source: Yahoo Finance
MARA Shifts Focus to Energy and AI Infrastructure
MARA announced a new strategy as part of its results. The company is shifting its focus beyond Bitcoin mining. It is developing a new energy and digital infrastructure segment.
It has entered a joint venture with Starwood Digital Ventures to develop AI and high-performance computing data centers. They will be located in areas with sufficient energy availability.
The company is developing a new energy and digital infrastructure segment. It may develop up to 2.5 gigawatts in later phases. It may own up to 50% of each project and continue with Bitcoin mining in areas with favorable electricity prices.
MARA also acquired a 64% stake in Exaion in February. Exaion develops AI solutions for corporate and government clients. The acquisition further supports the company’s move into digital infrastructure.
Also Read: MARA Holdings Inc. (MARA) Maintains Bullish Strength, Targeting $32 Breakout Zone
