EL7.AI
StocksMediumUpdated×9•Originally published 9 November 2026•Updated 10 November 2026•
1 min read

MARA Shares Slip as Revenue Misses Estimates Despite Profit Jump

Key Facts

1MARA produced about 2,247 bitcoin in the third quarter of 2026, up 5% year on year and down 7% quarter on quarter.
2Revenue fell 35% to $164.2 million, compared with $252.4 million a year earlier.
3The company reported net income of $632.1 million, including an unrealized gain of $885.3 million from revaluing digital assets.
4After quarter-end, MARA sold 13,597 bitcoin for about $1.1 billion and used $750 million to repay loans backed by them.
5The company reduced total debt by $1.4 billion, or 37%, from the start of 2026 through September 30.

MARA shares fell 0.3% in overnight trading on November 9 after third-quarter revenue of $164.2 million missed analyst estimates of $176.13 million. MARA Holdings reported producing 2,247 bitcoin during the quarter, a 5% increase from the same period a year earlier, yet total revenue dropped 35% from $252.4 million last year. The company attributed the decline primarily to a lower average price for mined bitcoin, which reduced revenue by $94.8 million despite the production growth.

Third-quarter net income rose to $632.1 million, driven by an $885.3 million unrealized gain from bitcoin revaluation, while total holdings reached 34,012 bitcoin by September 30, 2026. CEO Fred Thiel stated that the market is becoming more selective regarding how AI infrastructure is financed, as the company aims to convert its 1.9-gigawatt energy portfolio into sustainable cash flow. Following the quarter-end, the company sold 13,597 bitcoin to fully repay secured loans, contributing to a 37% reduction in total debt since the start of the year.

Latest Updates · 3

  1. Notable·

    Update: The MARA Holdings board of directors has approved a $500 million share buyback program. This authorization follows the company's successful repayment of secured loans and a 37% reduction in total debt since the start of the year.

  2. Notable·

    Update: MARA announced that its board has authorized a $500 million stock buyback program, signaling management's confidence in its financial position. The company also specified that the post-quarter repayment of secured loans amounted to $750 million in bitcoin-backed debt.

  3. Notable·

    Update: Data shows that the value of Bitcoin sales executed by MARA reached $1.1 billion. The company utilized these proceeds to repay $750 million in Bitcoin-backed loans, further detailing the debt reduction efforts announced in its third-quarter results.

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