Mara 2025 Q4 Reports Show $1.7B Loss as Bitcoin Falls to $62K

Mara 2025 Q4 $1.7B Loss Impact from Global Conflict and BTC Crash

The latest Mara 2025 Q4 earnings report has sent shockwaves through the Bitcoin mining industry. Marathon Digital posted a $1.7 bn net loss in the fourth quarter of fiscal 2025, compared to a $528 million profit in Q4 2024. Quarterly revenue came in at $202.3 million, slightly lower than last year’s $214.4 million.

For the full year, revenue actually improved to $907.1 million, up from $656.4 million in 2024. However, the company still recorded a $1.3 bn annual loss, largely due to a $1.5 billion fair value adjustment on its BTC holdings. This means accounting rules forced the company to mark down the value of its digital assets when prices fell.

Adjusted EBITDA for the quarter stood at negative $1.5 bn, reflecting heavy market pressure rather than operational collapse.

Source: X Official

Mining Expansion, Rising Costs and BTC Holdings

Despite the loss, Marathon expanded operations. Its energized hashrate rose to 66.4 EH/s, up from 53.2 EH/s a year earlier.

• Q4 production: 2,011 BTC
• Full-year production: 8,799 BTC
• Purchased energy cost in Q4: $50.8 million
• Full-year energy expenses: $179 million

The average cost per BTC mined surged to $48,611, mainly due to rising network difficulty and electricity rates.

Marathon currently holds 53,822 BTC, valued around $3.41 billion at a Bitcoin price near $63,445. It also has approximately $547 million in unrestricted cash.

Bitcoin Drops to $62K as US–Israel Strike Iran

Bitcoin recently fell to around $62,000, marking its lowest point in the past month. It now trades near $63,445, reflecting a 6.59% drop within 24 hours.

The decline coincides with escalating geopolitical tensions. Recent reports confirm that U.S. and Israeli forces launched coordinated strikes on Iranian military-linked infrastructure, citing national security and oil-related disputes. The attack has intensified fears of broader regional instability.

Since January 2026, Bitcoin has fallen sharply from $92,559 to $62,000, erasing nearly $30,000 in value within weeks. Global economic stress, rising oil prices, and investor panic have added pressure across digital asset markets.

Strategy vs Marathon: Who Faces Bigger Paper Loss?

Strategy remains the largest corporate BTC holder with 717,722 BTC. At January’s peak near $92,559, its holdings were valued at roughly $66.4 billion. At $63,445, that value drops to about $45.5 bn, representing an approximate $20.9 billion unrealized decline.

In comparison, Marathon’s holdings saw a reduction from nearly $4.98 billion at peak prices to around $3.41 billion, a paper loss of roughly $1.57 billion. While smaller in scale, Marathon also faces mining machine depreciation and higher operational costs.

Bold Warnings and Market Debate

Wikipedia co-founder Larry Sanger recently reignited debate by arguing that Bitcoin could eventually fall toward $10,000 or lower, suggesting it is largely fueled by speculation rather than tangible backing. He contrasted it with gold and silver, which have centuries of acceptance and lower volatility.

Expert View: Is More Pain Ahead?

Market analysts warn that digital assets react instantly to global conflict. Tensions involving oil-rich regions can trigger risk-off sentiment across financial markets. If geopolitical escalation continues, Bitcoin could fall levels below previous lows.

At the same time, supporters argue that long-term adoption by major economies like the U.S. and China keeps the market globally relevant. However, short-term volatility remains high. Investors may consider reducing exposure or adjusting strategies until stability returns.

Conclusion:

The Mara 2025 Q4 results reflect accounting-driven losses, falling Bitcoin prices, and rising geopolitical risks, signaling heightened volatility ahead for miners and institutional holders alike.

This article is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency investments carry risk, and readers should conduct their own research or consult a qualified professional before making any financial decisions.