The Nasdaq-listed miner is reinventing itself as both a digital infrastructure and energy powerhouse after a blockbuster quarter that showcased the power of vertical integration.
Revenue rose 92% amid stronger Bitcoin prices and higher mining output.
MARA now holds over 53,000 BTC, making it one of the largest corporate holders globally.
A new 1.5 GW energy partnership in Texas marks its move toward self-sustaining power.
Bitcoin Boom Reverses MARA’s Fortunes
After a turbulent 2024, MARA Holdings Inc. has returned to form. The company posted its highest-ever quarterly profit, driven by efficient mining operations, an expanding energy strategy, and the rebound in Bitcoin prices. What was a $125 million loss a year ago has turned into a $123 million profit, showcasing one of the sharpest turnarounds in the mining sector this year.
Revenue climbed to $252 million, powered by a 64% jump in hashrate and lower operating costs. MARA’s efficiency drive has paid off — not only in profitability but in its positioning as a more sustainable miner capable of weathering price swings.
The company mined 2,144 BTC in the third quarter, taking its total Bitcoin reserves to 53,250 coins, currently valued near $5.6 billion. That vaults MARA ahead of most public competitors and cements its status as a core institutional holder of Bitcoin, second only to Strategy Inc.
A Shift Toward Energy Independence
Beyond record earnings, MARA is reshaping its business model around energy ownership and infrastructure control. The firm announced a partnership with MPLX LP, an affiliate of Marathon Petroleum, to build 1.5 gigawatts of natural gas-powered energy and data center capacity in West Texas.
This expansion will enable MARA to operate more efficiently while diversifying its capabilities into AI-driven data processing. With miners facing increasingly tight margins, access to low-cost, on-demand power has become the ultimate competitive advantage.
From Miner to Digital Infrastructure Giant
MARA’s latest initiative reflects a broader transformation underway across the mining industry. Companies that once relied solely on Bitcoin are evolving into multi-purpose infrastructure providers, capable of running GPU clusters for artificial intelligence and high-performance computing.
Competitors such as IREN have already moved in this direction — recently securing a $9.7 billion agreement with Microsoft to supply GPU capacity for cloud-based AI operations. MARA’s strategy follows a similar path, blending its blockchain foundation with large-scale energy and compute operations.
At quarter’s end, the company reported $6.8 billion in combined cash and Bitcoin, with plans to reach 75 EH/s of total hashrate by year’s end — roughly a 25% increase from current levels.
A Reinvention in Motion
While MARA’s stock remains volatile — trading near $17.80 and down 13% over the past month — the company’s underlying transformation is unmistakable. It’s no longer positioning itself solely as a Bitcoin miner, but as a digital energy company straddling two of the fastest-growing sectors in the world: crypto and AI.
With record profits, vast reserves, and new power assets on the horizon, MARA’s latest results suggest that the future of mining isn’t just about producing Bitcoin — it’s about building the infrastructure that powers the digital economy itself.
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Source: https://coindoo.com/mara-turns-record-profit-as-bitcoin-mining-evolves-into-energy-powerhouse/