MARA Holdings Q2 revenue hits $238 million—an all-time high

JOON HYOUNG LEE

Summary

MARA Holdings announced that Q2 revenue reached a record high of $238 million.
Q2 net income was recorded at $808.2 million, a 505% surge year-over-year.
MARA Holdings' Bitcoin holdings total 49,951, the second largest in the industry.

The second quarter revenue of MARA Holdings, the largest Bitcoin (BTC) mining company in the United States, set a new all-time high.

MARA Holdings announced on the 29th (local time) that its Q2 revenue reached $238 million, a 64% increase year-over-year. This figure surpasses market expectations of $223.7 million, making it the company's highest quarterly revenue ever. Net income for Q2 was $808.2 million, a sharp 505% surge from a year earlier.

As of the end of last month, MARA Holdings held a total of 49,951 Bitcoins. This is a 170% increase compared to a year ago (18,488 Bitcoins). Cointelegraph reported, "(MARA Holdings) currently holds around $5.87 billion worth of Bitcoin," and added, "It has the second largest Bitcoin holdings after MicroStrategy, which owns approximately $71 billion in Bitcoin."

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