Marathon Digital (NASDAQ:MARA) Announces Earnings Results

Marathon Digital (NASDAQ:MARA) released its earnings results on Thursday. The business services provider reported ($4.52) EPS for the quarter, missing the consensus estimate of ($0.23) by ($4.29), FiscalAI reports. The firm had revenue of $202.31 million during the quarter, compared to analyst estimates of $250.74 million. Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%.The firm’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS.

Here are the key takeaways from Marathon Digital’s conference call:

• The company announced a Starwood Digital Ventures joint venture to develop AI/HPC data centers on MARA’s power-rich sites, targeting >1 GW near-term with a pathway to >2.5 GW and the option to retain up to 50% ownership, which should accelerate hyperscaler tenancy and access to institutional capital.
• MARA completed acquisition of a 64% stake in Exaion, gaining sovereign/private-cloud and enterprise AI capabilities (particularly in Europe) to pursue regulated and edge inference workloads that complement the Starwood partnership.
• Q4 produced a reported net loss of $1.7 billion driven largely by a $1.5 billion fair-value write-down on digital assets and an $82.8 million non?cash goodwill impairment, highlighting material earnings volatility tied to Bitcoin price moves.
• Operational scale and cost efficiency improved — energized hash rate rose ~25% to 66.4 EH/s, Bitcoin holdings increased ~20% to ~53,822 BTC, site cost/kWh was ~$0.04, and petahash-per-day costs improved year-over-year, supporting lower mining costs and flexibility to monetize BTC opportunistically.

Marathon Digital Price Performance

MARA traded down $0.12 during midday trading on Thursday, reaching $8.45. 49,549,697 shares of the company’s stock were exchanged, compared to its average volume of 46,086,600. Marathon Digital has a 1-year low of $6.66 and a 1-year high of $23.45. The stock has a market capitalization of $3.20 billion, a PE ratio of 4.69 and a beta of 5.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The business’s 50-day moving average price is $9.35 and its 200 day moving average price is $13.54.

Insider Buying and Selling

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $11.48, for a total transaction of $398,723.36. Following the completion of the transaction, the chief financial officer owned 248,566 shares of the company’s stock, valued at approximately $2,853,537.68. This trade represents a 12.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total transaction of $297,054.00. Following the completion of the transaction, the chief executive officer owned 3,517,566 shares in the company, valued at approximately $37,989,712.80. This trade represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 133,247 shares of company stock valued at $1,325,255. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of Marathon Digital

Hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its holdings in shares of Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after purchasing an additional 991 shares during the period. Osaic Holdings Inc. raised its holdings in Marathon Digital by 38.6% in the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock valued at $76,000 after buying an additional 1,340 shares during the period. United Services Automobile Association lifted its position in Marathon Digital by 8.2% during the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after buying an additional 1,569 shares in the last quarter. NewEdge Advisors LLC grew its stake in Marathon Digital by 19.6% during the fourth quarter. NewEdge Advisors LLC now owns 11,053 shares of the business services provider’s stock worth $99,000 after buying an additional 1,811 shares during the period. Finally, CI Investments Inc. increased its position in shares of Marathon Digital by 17.1% in the fourth quarter. CI Investments Inc. now owns 12,563 shares of the business services provider’s stock worth $113,000 after acquiring an additional 1,830 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital News Summary

Here are the key news stories impacting Marathon Digital this week:

• Positive Sentiment: Marathon announced a strategic AI/infrastructure venture (Starwood partnership) to convert power capacity into AI and HPC data?center capacity — a potential new, higher?margin revenue stream that helps de?correlate the business from Bitcoin price swings. Marathon Digital surges 13% on AI infrastructure venture
• Positive Sentiment: Sector momentum — including strong daily inflows into Bitcoin ETFs — lifted miner stocks and supported MARA into the session’s close/after?hours. This flow backdrop can amplify positive news for miners. Trump-Linked Miner Reports Results, MARA Surges On AI Partnership
• Neutral Sentiment: Brokerage consensus remains constructive (consensus “Moderate Buy”), which could limit downside if execution on the AI pivot and mining operations track to plan. MARA Receives Consensus Rating of “Moderate Buy”
• Neutral Sentiment: The company issued its preliminary Q4/fiscal?2025 results letter to shareholders (formal release/slide deck available), providing the official metrics investors are parsing. MARA Announces Fourth-Quarter and Fiscal Year 2025 Results
• Negative Sentiment: Quarterly results showed a steep EPS miss: reported loss per share of ($4.52) vs. consensus (~($0.23)), and revenue of $202.3M below estimates — driven largely by non?cash markdowns on held Bitcoin. These accounting hits pressured the stock intraday. View Slide Deck
• Negative Sentiment: Analysts and press flagged increased scrutiny of Marathon’s Bitcoin?centric strategy and accounting volatility — a reminder that large paper impairments and macro/trade uncertainty can produce outsized headline moves. Marathon Digital earnings loom as bitcoin strategy draws scrutiny

Wall Street Analyst Weigh In

MARA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Piper Sandler decreased their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Monday, November 24th. Rosenblatt Securities cut their price objective on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings upgraded shares of Marathon Digital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 20th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.00.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.