Bitcoin miner Marathon Digital turns a profit in Q3 year-on-year: mining output increases by only 5%, revenue growth relies on BTC price surge

According to Jinse Finance, citing Yahoo Finance, bitcoin mining company Marathon Digital Holdings Inc (MARA) released its financial report for the third quarter of fiscal year 2025 on November 4. The company turned profitable, shifting from a net loss of $124.8 million in the same period last year to a net profit of $123.1 million; revenue increased by 92% year-on-year to $252.4 million, which was below market expectations. The report stated that Marathon mined 2,144 bitcoins in the third quarter, with the number of blocks captured increasing by only 5% year-on-year. This means that 92% of the company's revenue growth was almost entirely driven by an 88% year-on-year increase in the average price of bitcoin, rather than an increase in mining volume.