According to The Block, MARA Holdings reported a net loss of $1.7 billion in the fourth quarter, primarily due to a $1.5 billion negative fair value change in digital assets caused by the decline in Bitcoin prices. Meanwhile, MARA announced a joint venture with Starwood Capital Group to build data centers focused on artificial intelligence, prompting its stock to rise over 15% in after-hours trading following the announcement. MARA’s fourth-quarter revenue amounted to $202.3 million, a 6% year-over-year decline. Despite a 25% year-over-year increase in energy hash rate to 66.4 EH/s, the company mined only 2,011 Bitcoin during the quarter, down from 2,144 in the third quarter, with the number of blocks received falling 15% year-over-year to 595. As of year-end, MARA held 53,822 Bitcoin, valued at approximately $4.7 billion, of which about 28% were lent or staked, generating $32.1 million in interest income for 2025.
MARA reports $1.7 billion net loss for Q4, shares rise 15% following AI data center partnership
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Summary
MARA’s Q4 net loss reached $1.7 billion, driven by a $1.5 billion decline in Bitcoin’s fair value amid weak inflation data. The company partnered with Starwood to develop AI data centers, sending shares up 15% after hours. Q4 revenue declined 6% to $202.3 million. On-chain data shows a 25% increase in energy hash rate to 66.4 EH/s, but Bitcoin mined fell to 2,011 from 2,144 in Q3. MARA holds 53,822 Bitcoin, valued at $4.7 billion, with 28% staked, earning $32.1 million in 2025.
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