Marathon Digital Holdings reported second-quarter 2025 revenue of $238.5 million, a 64% increase from a year earlier and ahead of Wall Street estimates of about $220 million. Earnings per share came in at $1.84, comfortably topping the highest analyst forecast, while net income jumped 505% to $808.2 million, helped by a $1.2 billion gain on digital assets. The stock rose roughly 7% in after-hours trading to $17.77. The Bitcoin miner produced 2,358 BTC during the quarter, up 15% year on year, and expanded its holdings to 49,951 BTC—a 170% increase that brings the company’s treasury close to 50,000 coins. Adjusted EBITDA climbed more than 1,000%, underscoring the benefit of higher cryptocurrency prices and the company’s ongoing build-out of mining capacity and compute infrastructure. Marathon said it will discuss the results and its expansion plans on a conference call scheduled for 5 p.m. Eastern time on 29 July.