MARA Q3 Net Profit Reaches $634.4 Million

TechFlow reported on November 10, citing The Block, that Bitcoin miner MARA Holdings posted Q3 net profit of $634.4 million, up from $123.1 million in the same period last year; revenue declined 35% year-over-year to $164.2 million.

The report noted that profit growth was primarily driven by Bitcoin appreciation, with the company recording nearly $885 million in fair value gains on its digital assets and Bitcoin receivables. Meanwhile, block reward revenue fell 37%, weighing on mining revenue.

Source: TechFlow