The public company MARA (formerly Marathon Digital) has set a new revenue record in the third quarter of 2025, generating $252.4 million. This is a 92% increase compared to the same period last year. MARA’s net profit amounted to $123 million ($0.27 per share) compared to a loss of $124 million the previous year. Meanwhile, the company’s shares fell by 5.8% to $16.96 after a brief drop in the price of Bitcoin below $100,000.
This is reported by Finway
MARA’s Transformation: From Mining to Digital Infrastructure
MARA’s CEO Fred Thiel emphasized that the company is actively expanding its operations, transforming from a pure Bitcoin miner into a multifaceted digital infrastructure company that also encompasses artificial intelligence. MARA’s core strategy is built around the concept that electricity is becoming a critical resource for the digital economy, supporting the development of both mining and AI systems.
“This quarter, we continued the evolution of MARA — from a pure Bitcoin miner to a vertically integrated digital infrastructure company. One that transforms energy into both value and intelligence,” said Thiel.
As part of the new strategy, MARA is combining the energy flows of Bitcoin mining and artificial intelligence on a single platform. The first servers for AI computations have already been deployed at the facility in Grenberg, Texas.
Partnership with MPLX and Exaion for Energy and AI Development
MARA has announced a strategic partnership with MPLX LP — a subsidiary of Marathon Petroleum Corporation, the largest oil refining company in the U.S. The collaboration involves the creation of energy generation and data center facilities in West Texas, which will provide cheap natural gas and stable energy supply for digital infrastructure.
Another significant step was the acquisition of a controlling stake in Exaion — a French subsidiary of EDF, one of the world’s leading low-emission energy producers. Upon completion of the agreements, Exaion will provide MARA with expertise in managing Tier III/IV data centers and high-performance computing (HPC).
Through these initiatives, MARA is deepening its expertise in energy and digital computing. To date, the company owns approximately 53,250 BTC with a total value of over $5.3 billion, increasing its Bitcoin reserves by 98% over the year. This makes MARA the second-largest publicly traded company by Bitcoin treasury in the world. Additionally, following the market correction in October, MARA acquired another 400 BTC.
It is worth noting that other major players in the industry are also actively exploring the AI sector. For example, IREN has signed a $9.7 billion contract with Microsoft for cloud capabilities for AI, while Cipher Mining has a $3 billion deal with Fluidstack, supported by Google, to provide infrastructure for artificial intelligence.