Mara

Q3 FY2026 EarningsQ3 FY26 results presented a significant beat on bottom-line GAAP metrics primarily driven by non-cash digital asset fair value gains, while revenue missed consensus. Revenue of $164.2M fell 6.8% short of the $176.1M expected, impacted by a 37% decline in the average price of Bitcoin mined. However, GAAP EPS reached $1.28, far exceeding the expected loss of $0.33, due to an $885.3M gain from Bitcoin mark-to-market adjustments. Management announced a new $500M share repurchase program and a pivot toward AI/HPC infrastructure to diversify beyond core mining.