MARA and Hut 8 profits surge in Q3 as Bitcoin reserves grow

Bitcoin miners MARA Holdings and Hut 8 both reported strong third-quarter results, characterized by significantly increased profits and expanded Bitcoin reserves. MARA's Q3 2025 revenue reached $252 million, resulting in a net income of $123 million, up from a loss the previous year. Hut 8's revenue nearly doubled to $83.5 million, yielding $50.6 million in profit. Both companies bolstered their balance sheets; MARA's BTC reserves grew to 52,850 from 26,747 year-over-year, and Hut 8 held 13,696 BTC. These results reflect their strategic shift beyond pure mining into large-scale compute and energy infrastructure, including AI data centers, though their stock prices traded lower following the announcements. The US, particularly Texas, remains the dominant global hub for Bitcoin mining following China's 2021 ban.

(Source：Cointelegraph)