Marathon Digital Holdings Reaches New All-time High in Bitcoin Mining Revenue

Marathon Digital Holdings, formerly Marathon Digital Holdings, reached a new all-time high in Bitcoin mining revenue, fueled by its recent surge to a record price.

MARA Holdings, formerly known as Marathon Digital Holdings, has hit a new all-time high in Bitcoin mining revenue, fueled by the recent surge in BTC price to a record high.

According to CryptoQuant data, the company’s annualized mining revenue exceeded $752 million on May 27, marking it as the most profitable day in the company’s history. Marathon is currently the world’s largest publicly traded Bitcoin (BTC) mining firm by market capitalization.

“Quarterly reports are slow. Onchain shows revenue in real time,” confirmed CryptoQuant founder and CEO Ki Young Ju in a May 27 X post.

Marathon’s record revenue surge comes just days after Bitcoin touched a new all-time high of $112,000 on May 22, a development some analysts have linked to Japanese bond market turbulence.

The revenue surge also comes two weeks after MARA’s earnings report for Q1 missed Wall Street estimates by 0.35%. The company’s Bitcoin production fell 19% year-over-year, mainly due to the April 2024 Bitcoin halving, which halved the block reward from 6.25 to 3.125 BTC.

For perspective, the world’s largest Bitcoin mining firm has a market capitalization of $5.18 billion, according to Companiesmarketcap data.

Despite the reduction in production, Marathon has continued to expand its Bitcoin holdings.

As of May 27, MARA’s Bitcoin holdings stand at 48,237 BTC, valued at over $5.28 billion, making the Bitcoin mining company the second-largest corporate Bitcoin holder in the world with over 0.23% of the total supply, according to Bitbo data.

The top spot is still held by Strategy (formerly MicroStrategy), with over $63 billion in Bitcoin holdings.

While MARA’s annualized revenue hit a record high, daily miner revenues averaged around $50 million, significantly lower than the historic peaks of $80 million, reached in December 2024.

“Still, some room to climb back to those previous highs,” noted macro researcher and CryptoQuant author Axel Adler in a separate post.

Earlier, in July 2024, Marathon adopted Bitcoin as a strategic treasury reserve asset, adding $124 million worth of BTC to its balance sheet.

As the leading publicly traded Bitcoin miner in the U.S., Marathon is known for its large-scale mining operations and commitment to Bitcoin's long-term success. The company's stock is traded on the Nasdaq Stock Market under the symbol "MARA."