Formerly MARATHON DIGITAL HOLDINGS, INC. (to 2024-08-14); Marathon Patent Group, Inc. (to 2021-02-19).
The seven operational hero metrics, from the Tier 1 research pass of 2026-09-06: reported figures are solid, computed ones hatched, a figure the company defines differently from its peers marked not comparable, and every null carrying the input it lacks.
not disclosed as a per-BTC all-in figure. The company reports cost per petahash per day ($27.7 in Q2 2026, down 4% from $28.7) instead. Derivable inputs: purchased energy $48.8 million, O&M $26.9 million, hosting and other energy $69.2 million, D&A $174.7 million against 2,422 BTC.
2 HPC and AI rows on file: 2 announced or under a letter of intent.
The status word is part of the figure: an intention stated on a call and a signed lease are not the same fact, so a megawatt, a term or a value on a row that is not an agreement carries its status beside it. The deal book carries no contracted or operating critical IT total for this company. Tap or hover a figure for the text it was read from. Every company's rows.
Counterparty
Status
Announced
MW
Term
Disclosed value
Document
Prospective investment-grade AI / Critical IT tenants at Hannibal, OH (Long Ridge campus) - no counterparty signedHannibal, OH (Long Ridge Energy campus, pending acquisition)
Starwood Digital Ventures / Starwood Capital Group Global III, L.P. (development partner, not a tenant)All US MARA-owned bitcoin mining properties other than those in existing third-party JVs; Matagorda County to be developed through the same partnership
Revenue was $174.9M for the quarter ended 2026-06-30; the share count moved +4.3% (+15.8M shares) between 2025-07-22 and 2026-07-30; 1106 filings are on EDGAR, the latest a Form 4 on 2026-08-21.
The share count went from 102.7M at 2021-12-31 to 386.3M at 2026-07-30.
shares · 40 dated counts, 2021-12-31 to 2026-07-30, 84 earlier counts not drawn · as of 2026-09-06 · Form 10-Q 2026-08-06
The share count went from 102.7M at 2021-12-31 to 386.3M at 2026-07-30.
3 at-the-market documents on file, the largest program $2B, the most recent filed 2025-03-28.
An at-the-market program is a standing authority to sell shares into the market, so it is the mechanism behind the share count above. The size is the authority, not what has been sold: none of these documents states how much is left, and this page never estimates the difference. Tap or hover a size for the text it was read from.
Cover-page language classifies the filing, not the form; every fact carries the sentence it came from; remaining capacity is null unless the document states it. Excluded: 424B3 (resale or selling-shareholder supplement), 424B7 (selling-securityholder supplement).
Quarterly revenue, 13 tagged quarters to 2026-06-30 and 3 hatched, derived from the fiscal year less its three reported quarters.
USD · 2022-09-30 to 2026-06-30 · as of 2026-09-06 · 10-Q 2026-08-06
Quarterly revenue, 13 tagged quarters to 2026-06-30 and 3 hatched, derived from the fiscal year less its three reported quarters.
Period
Revenue (USD)
2022-09-30
$12.7M
2022-12-31
$28.4M
2023-03-31
$51.1M
2023-06-30
$81.8M
2023-09-30
$97.8M
2023-12-31
$156.8M (derived)
2024-03-31
$165.2M
2024-06-30
$145.1M
2024-09-30
$131.6M
2024-12-31
$214.4M (derived)
2025-03-31
$213.9M
2025-06-30
$238.5M
2025-09-30
$252.4M
2025-12-31
$202.3M (derived)
2026-03-31
$174.6M
2026-06-30
$174.9M
Quarterly net income, 13 tagged quarters to 2026-06-30 and 3 hatched, derived from the fiscal year, 10 of the 16 a loss.
USD · 2022-09-30 to 2026-06-30 · as of 2026-09-06 · 10-Q 2026-08-06
Quarterly net income, 13 tagged quarters to 2026-06-30 and 3 hatched, derived from the fiscal year, 10 of the 16 a loss.
Period
Net income (USD)
2022-09-30
-$72.5M
2022-12-31
-$392.7M
2023-03-31
$118.7M
2023-06-30
-$9M
2023-09-30
-$390K
2023-12-31
$149.7M (derived)
2024-03-31
$337.2M
2024-06-30
-$199.7M
2024-09-30
-$124.8M
2024-12-31
$528.5M (derived)
2025-03-31
-$533.2M
2025-06-30
$808.2M
2025-09-30
$123.1M
2025-12-31
-$1.71B (derived)
2026-03-31
-$1.26B
2026-06-30
-$609.7M
Cash and equivalents at each balance sheet date, 16 points to 2026-06-30.
USD · 2022-09-30 to 2026-06-30 · as of 2026-09-06 · 10-Q 2026-08-06
Cash and equivalents at each balance sheet date, 16 points to 2026-06-30.
Period
Cash (USD)
2022-09-30
$55.3M
2022-12-31
$103.7M
2023-03-31
$124.9M
2023-06-30
$113.7M
2023-09-30
$357.3M
2023-12-31
$357.3M
2024-03-31
$324.3M
2024-06-30
$256M
2024-09-30
$164.3M
2024-12-31
$391.8M
2025-03-31
$196.2M
2025-06-30
$109.5M
2025-09-30
$826.4M
2025-12-31
$547.1M
2026-03-31
$513.7M
2026-06-30
$421.3M
Digital assets at fair value, 10 balance sheet dates to 2026-06-30.
USD · 2023-12-31 to 2026-06-30 · as of 2026-09-06 · 10-Q 2026-08-06
Digital assets at fair value, 10 balance sheet dates to 2026-06-30.
Period
Digital assets (USD)
2023-12-31
$639.7M
2024-06-30
$1.18B
2024-09-30
$1.71B
2024-12-31
$4.2B
2025-03-31
$3.93B
2025-06-30
$5.36B
2025-09-30
$6.03B
2025-12-31
$4.71B
2026-03-31
$2.41B
2026-06-30
$2.09B
1 monthly production release in the thirteen months from August 2025 to August 2026, every figure as the release printed it.
Tap or hover a number for the sentence it was read from and the document it is in. A figure the release does not state reads "not stated"; nothing is carried over from another month. 3 of the six figures appear in no release from this company, so those columns are not drawn.
12 of the 13 months in the window carry no release from this company: August 2025, October 2025, November 2025, December 2025, January 2026, February 2026, March 2026, April 2026, May 2026, June 2026, July 2026, August 2026. A month with no release is left out, never interpolated.
Source: EDGAR EX-99 exhibits of the last 12 months (S2 exhibits_12m.jsonl) plus the IR release texts S2 saved under data/ir/<TICKER>/text/. Read with the extraction pass of 2026-09-06; every number was checked back against the quoted sentence.
8 guidance statements on the ledger, 7 with an outcome document: 3 settled, 4 still open.
1 statement has no outcome document yet. 5 of the 8 are specific enough to score; the rest are tracked and shown but carry no number to check. 2 of the selected rows for this company are specific, which is what the accuracy score would rest on. Every company's statements.
2026-08-06specificno outcome documentother
Our most significant third-party hosting arrangements are set to expire beginning in Q3 2027, with all third-party hosting arrangements to conclude by Q1 2028. These expirations are expected to eliminate third-party hosting costs over time and improve our cost per kWh.
Projected
exit of all hosted mining (537 MW, 29.2 EH/s at 2025-12-31) by Q1 2028, by 2028-03-31
The site encompasses more than 1,200 acres and is expected to provide access to up to an initial 1 GW of grid capacity by October 2027 and up to 2 GW by April 2028.
Projected
1,000 MW by 2027-10; 2,000 MW by 2028-04 (Matagorda County, TX), by 2028-04-30
Actual
unresolved; 'subject to ERCOT and interconnect approvals'; HIF has 'given Notice to Proceed for construction on the switchyard' as of 2026-08-06
Variance
not resolved
The outcome document says: Our recent agreement to acquire rights to a strategically located powered site in Matagorda County, Texas, is expected to add approximately two gigawatts in one of the country's most attractive markets, subject to ERCOT and interconnect approvals.
Going forward, we do not expect to pursue large-scale ASIC purchases. Our approach will remain selective, targeted, and grounded in clear economic return.
Projected
no large-scale fleet growth; hashrate roughly flat, no date given; the statement is open
Actual
consistent so far: energized hashrate 72.2 EH/s (2026-03-31) to 70.3 EH/s (2026-06-30); capex on property and equipment $94.3 million in H1 2026 vs $157.8 million in H1 2025 as of 2026-06-30
Variance
not computed
The outcome document says: Capital Requirements Short-term Obligations During the six months ended June 30, 2026, we strengthened our Condensed Consolidated Balance Sheets and improved our near-term liquidity profile by repurchasing approximately $1.0 billion of our 0.00% convertible senior notes through privately negotiated transactions, consisting of approximately $367.5 million of our March 2030 Notes and approximately $633.4 million of our June 2031 Notes, reducing our total debt from $3.6 billion as of December 31, 2025 to approximately $2.4 billion as of June 30, 2026.
Our expectation is to sign one or more tenant leases by year-end, and we intend to disclose the number of megawatts under contract as the pipeline converts into signed commitments.
Projected
at least one hyperscale/AI tenant lease signed, by 2026-12-31
Actual
unresolved; no lease signed as of 2026-08-06 ('lease discussions are progressing across multiple sites, and we remain confident in our ability to sign at least one lease before year-end') as of 2026-08-06
Variance
not resolved
The outcome document says: Working alongside Starwood, lease discussions are progressing across multiple sites, and we remain confident in our ability to sign at least one lease before year-end.
Subject to closing and tenant execution, we believe Long Ridge can support tenant commitments soon after closing, which we expect to occur in the second half of the year, subject to regulatory approvals, including clearance under the Hart-Scott-Rodino Act and Federal Energy Regulatory Commission approval, as well as satisfaction of other customary closing conditions.
Projected
Long Ridge acquisition closes in H2 2026, by 2026-12-31
Actual
unresolved; 'currently awaiting FERC approval' as of 2026-08-06; consent solicitation for the 8.750% notes completed 2026-05-15; purchase agreement outside date 2026-11-30 (2027-06-30 if regulatory conditions unmet) as of 2026-08-06
Variance
not resolved
The outcome document says: We continued to advance the Long Ridge transaction and are currently awaiting FERC approval.
Long Ridge's assets include a 485 MW nameplate capacity (expected to increase to 505 MW nameplate capacity in H2 2026) combined-cycle gas turbine power plant located in Hannibal, Ohio
Projected
505 MW nameplate, by 2026-12-31 (H2 2026)
Actual
timeline moved: the Q2 2026 10-Q says 'expected to increase to 505 MW in the first quarter of 2027' as of 2026-08-06
Variance
not computed
The outcome document says: Long Ridge’s assets include a 485 megawatt (“MW”) combined-cycle gas turbine power plant in Hannibal, Ohio (expected to increase to 505 MW in the first quarter of 2027) and over 1,600 contiguous acres with access to water, fiber and rail infrastructure.
MARA expects construction of an initial AI/Critical IT buildout to begin in 1H 2027, with initial capacity accelerated by its current 200 MW of capacity and targeted to be ready for service in mid-2028.
Projected
initial AI/Critical IT buildout at Hannibal: construction start 1H 2027, ready for service mid-2028; up to 600 gross MW over time; about $144 million annualized Adjusted EBITDA from the plant, by 2028-06-30
Actual
unresolved; acquisition not closed as of 2026-08-06 as of 2026-08-06
With 1.7 gigawatts (GW) of captive capacity - including 1.1 GW currently operational - and a growth pipeline exceeding 3 GW of low-cost power opportunities, we are targeting 75 exahash by the end of 2025.
Projected
75 EH/s energized, by 2025-12-31
Actual
66.4 EH/s at 2025-12-31 (missed by 8.6 EH/s); company: 'While below our 75 EH/s target, this outcome reflects deliberate capital discipline' as of 2025-12-31
Variance
-11.5%from 75 EH/s projected against 66.4 EH/s reported
The outcome document says: While below our 75 EH/s target, this outcome reflects deliberate capital discipline.