Українська
Русский
English
Bitcoin miners MARA and Hut 8 boost profits and BTC holdings in Q3
Bitcoin mining corporations MARA Holdings and Hut 8 reported strong third-quarter results on Tuesday, both posting sharp increases in profits and expanding their bitcoin reserves.
MARA’s revenue surged 92% year-over-year to $252 million in Q3 2025. The company reported net income of $123 million, compared to a loss of $125 million in the same period last year.
Hut 8’s revenue nearly doubled to $83.5 million, with net income of $50.6 million.
Both mining companies also strengthened their balance sheets.
MARA Holdings ended the quarter with 52,850 BTC, nearly doubling its reserves from 26,747 BTC a year earlier.
Hut 8 reported 13,696 BTC in its strategic reserve, up from 9,106 BTC last year.
These results highlight both firms’ continued business diversification beyond bitcoin mining, moving into large-scale computing and energy infrastructure.
MARA described itself as a “digital energy and infrastructure” company focused on converting excess energy into digital capital, including investments in low-carbon AI data centers through the $168 million acquisition of Exaion, a subsidiary of the French state-owned energy giant EDF.
Hut 8 follows a similar path, managing 1.02 gigawatts of capacity and planning to expand to over 2.5 gigawatts across North America. The company is developing high-performance computing hubs to support both bitcoin mining and AI workloads.
Despite strong results, shares of both companies declined on Tuesday:
-
Hut 8 dropped by around 9%,
-
MARA fell by 5% — nearly matching bitcoin’s 6% slide to $99,000, according to TradingView.
Source: Yahoo News
The U.S. leads global bitcoin mining
Following China’s 2021 bitcoin mining ban, a significant share of the global hash rate shifted to the United States, which now accounts for roughly 37% of total bitcoin hash power, making it the world’s largest mining hub.
Six of the ten biggest publicly listed miners are based in the U.S.
Bitcoin hash rate by country. Source: World Population ReviewTexas has become the nation’s leading bitcoin mining state, offering cheap electricity, abundant renewable energy, and a pro-business power grid. Major miners including MARA, Riot Platforms, CleanSpark, Bitdeer, and Hut 8 operate there.
U.S. Senator Ted Cruz even called the state “a bitcoin oasis.”
Top 10 bitcoin miners by market capitalization. Source: CompaniesMarketCap
Meanwhile, some states are still debating industry regulations.
In New Hampshire, the Senate Commerce Committee failed to reach an agreement last Friday on a bill aimed at loosening restrictions on crypto mining — following a wave of public reaction since the measure was last discussed.
