MARA Announces Bitcoin Production and Mining Operation Updates for September 2025

Rhea-AI Summary

MARA (NASDAQ: MARA) reported unaudited September 2025 bitcoin mining updates. Key metrics: 218 blocks won (5% M/M), 736 BTC produced (4% M/M), average 24.5 BTC/day (8% M/M), energized hashrate 60.4 EH/s (2% M/M). As of September 30, 2025 MARA held 52,850 BTC (includes loaned/pledged assets); the company recorded a net sale of BTC during the month. Operations: fleet uptime 99%, Hannibal site at 86 MW online with +14 MW targeted by year-end, Texas wind farm fully deployed and on track for full operations in Q4. Global hashrate averaged 1,031 EH/s (+9% M/M).

Positive

• Blocks won: 218 in September (+5% M/M)
• BTC produced: 736 BTC in September (+4% M/M)
• Total BTC holdings: 52,850 BTC as of Sept 30, 2025
• Fleet uptime: 99% overall
• Hannibal capacity: 86 MW online; +14 MW targeted by year-end
• Texas wind farm: all containers and miners fully deployed, on track for Q4 full operations

Negative

• Global bitcoin hashrate: 1,031 EH/s in Sept (+9% M/M) increasing mining difficulty
• Company recorded a net sale of BTC during September
• Temporary weather-related downtime at Garden City site

Insights

Operations and Production Analyst

MARA reported modest month-over-month increases in September bitcoin production, blocks won, uptime, and BTC holdings.

What it means: MARA produced 736 BTC in September, a 4% increase month-over-month, and won 218 blocks (up 5% M/M99% and energized hashrate rose to 60.4 EH/s, up 2% M/M. The company held 52,850 BTC as of September 30, 2025 and reported a net sale of BTC during the month.

Why it matters: Small, consistent production gains while global hashrate increased indicate operational stability and scale; higher uptime and completion of deployed hardware at the Texas wind farm support near-term capacity growth. The disclosed 52,850 BTC balance is a concrete ledger position that affects balance-sheet exposure to crypto price movements and liquidity.

Monitor the company’s statement about achieving full operational status at the Texas wind farm in the fourth quarter as the single clear, monitorable near-term milestone disclosed in this release.

218 Blocks Won in September, 5% Increase M/M
736 BTC Produced in September, 4% Increase M/M
Increased BTC Holdings* to 52,850 BTC

Miami, FL, Oct. 03, 2025 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) ("MARA" or the "Company"), a leading digital energy and infrastructure company, today published unaudited bitcoin ("bitcoin" or "BTC") production updates for September 2025.

Management Commentary

"In September, we produced 218 blocks, a 5% increase over August, demonstrating the continued strength and resilience of our operations even as global hashrate grew 9% month-over-month to an average of 1,031 EH/s," said Fred Thiel, MARA's chairman and CEO. "This growth in production underscores our ability to execute consistently, even as mining becomes more difficult.

“Energized hashrate increased 1% month-over-month. At our Texas wind farm, all containers and miners are now fully deployed and connected, keeping us on track to achieve full operational status in the fourth quarter. Since assuming full control of our site in Hannibal, Ohio, which is now running at 100% capacity with 86 MW online and an additional 14 MW targeted by year-end, we have increased uptime at the site to 99%. Fleet uptime was 99% overall, aside from temporary weather-related downtime at Garden City.”

Operational Highlights and Updates

Figure 1: Operational Highlights

		Prior Month Comparison
Metric		9/30/2025			8/31/2025			% Δ
Number of Blocks Won 1		218			208			5	%
BTC Produced		736			705			4	%
Average BTC Produced per Day		24.5			22.7			8	%
Share of available miner rewards 2		5.2	%		4.9	%		NM
Transaction Fees as % of Total 1		0.9	%		0.8	%		NM
Energized Hashrate (EH/s) 1		60.4			59.4			2	%

1. These metrics are MARAPool only and do not include blocks won from joint ventures.
2. Defined as the total amount of block rewards including transaction fees that MARA earned during the period divided by the total amount of block rewards and transaction fees awarded by the Bitcoin network during the period.

NM - Not Meaningful

As of September 30, 2025, the Company held a total of 52,850 BTC*. During the month, the Company’s digital asset management activities resulted in a net sale of BTC.

*Includes bitcoin that is loaned, actively managed or pledged as collateral

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under the heading "Risk Factors" in our most recent annual report on Form 10-K and any other periodic reports that we may file with the U.S. Securities and Exchange Commission (the "SEC"). If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Forward-Looking Statements" below.

The operational highlights and updates presented in this press release pertain solely to our BTC mining operations. Detailed information regarding our other operations can be found in our periodic reports filed with the SEC.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. All statements, other than statements of historical fact, included in this press release are forward-looking statements. The words "may," "will," "could," "anticipate," "expect," "intend," "believe," "continue," "target" and similar expressions or variations or negatives of these words are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements include, among other things, statements related to our ability to grow production despite increasing mining difficulty and the expected timing of full operations at our Texas wind farm. Such forward-looking statements are based on management’s current expectations about future events as of the date hereof and involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Subsequent events and developments, including actual results or changes in our assumptions, may cause our views to change. We do not undertake to update our forward-looking statements except to the extent required by applicable law. Readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements included herein are expressly qualified in their entirety by these cautionary statements. Our actual results and outcomes could differ materially from those included in these forward-looking statements as a result of various factors, including, but not limited to, the factors set forth under the heading “Risk Factors” in our most recent annual report on Form 10-K, and any other periodic reports that we may file with the SEC.

About MARA

MARA (NASDAQ: MARA) deploys digital energy technologies to advance the world's energy systems. Harnessing the power of compute, MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. Building on its expertise to redefine the future of energy, MARA develops technologies that reduce the energy demands of high-performance computing applications, from AI to the edge.

For more information, visit www.mara.com, or follow us on:

Twitter: @MARAHoldings
LinkedIn: www.linkedin.com/company/maraholdings
Facebook: www.facebook.com/MARAHoldings
Instagram: @maraholdingsinc

MARA Company Contact:
Telephone: 800-804-1690
Email: ir@mara.com

MARA Media Contact:
Email: marathon@wachsman.com

FAQ

How many bitcoins did MARA produce in September 2025 (MARA)?

MARA produced 736 BTC in September 2025, a 4% increase month-over-month.

What were MARA's bitcoin holdings as of September 30, 2025 (MARA)?

As of Sept 30, 2025, MARA held 52,850 BTC (includes loaned/pledged assets).

What operational uptime did MARA report for September 2025 (MARA)?

MARA reported overall fleet uptime of 99% and Hannibal site uptime of 99%.

How did global hashrate affect MARA's September 2025 production (MARA)?

Global hashrate averaged 1,031 EH/s in September 2025, up 9% M/M, increasing network difficulty.

What is the status of MARA's Texas wind farm as of October 3, 2025 (MARA)?

All containers and miners at the Texas wind farm are fully deployed and connected; MARA expects full operational status in Q4 2025.

Did MARA sell any bitcoin in September 2025 (MARA)?

Yes. The press release states the company's digital asset management activities resulted in a net sale of BTC during September 2025.