BlockBeats report: On November 10, Bitcoin mining company MARA announced its third-quarter 2026 results, mining 2,247 BTC during the quarter, a 5% year-over-year increase, with powered hash rate rising 18% year-over-year to 71.2 EH/s. Revenue declined 35% year-over-year to $164 million, while net profit increased from $123 million in the same period last year to $632 million. The Bitcoin price rose approximately 43% compared to the end of the second quarter, and the fair value changes of MARA’s holdings were recognized in the current period’s earnings.
As of the end of September, MARA held 34,012 BTC, a 36% year-over-year decrease, primarily due to bitcoin sales in the first half of the year, with proceeds partially used to repurchase convertible bonds and repay credit facilities. In October, MARA sold an additional 13,597 BTC at an average price of approximately $81,039, generating about $1.1 billion to fully repay its $750 million bitcoin-backed loan and release 17,477 BTC from collateral.
