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Bitcoin miner Marathon Digital turns profitable in Q3: mining output up just 5%, revenue growth relies on Bitcoin price increase

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According to ChainCatcher, citing Yahoo Finance, Bitcoin mining company Marathon Digital Holdings Inc. (MARA) announced its fiscal third-quarter 2025 earnings report on November 4th. The company turned a profit, reversing last year’s $124.8 million loss to a net income of $123.1 million. Revenue increased by 92% year-over-year to $252.4 million, but fell short of market expectations.

The report also stated that Marathon mined 2,144 bitcoins in the third quarter, with a year-over-year increase in block captures of only 5%. This suggests that the company’s 92% revenue growth was almost entirely driven by an 88% year-over-year rise in the average price of Bitcoin, rather than an increase in mining output.

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