Two of the world’s biggest Bitcoin miners just reported massive Q3 2025 growth — and they’re betting big on AI-powered infrastructure.
Marathon Digital (MARA) smashed expectations with $252M in revenue, up 92% YoY, and a $123M profit (vs. $125M loss last year).
MARA nearly doubled its BTC reserves to 52,850 coins, now worth $5.3B — the 2nd largest public Bitcoin treasury.
Deployed AI inference racks in Granbury, Texas
Partnered with MPLX for low-cost natural gas power
Acquired Exaion (EDF subsidiary) for $168M — expanding low-carbon AI data centers in France
Hut 8 also posted record numbers:
Revenue doubled to $83.5M
Profit hit $50.6M
BTC holdings rose to 13,696 coins
Operating 1.02 GW capacity, with plans to exceed 2.5 GW across North America
Both miners are building hybrid facilities that can handle Bitcoin mining + AI workloads — mirroring moves from other ex-miners like IREN (deal with Microsoft) and Cipher Mining (deal with Amazon).
Despite record results, both stocks dipped slightly Tuesday — perhaps because investors wanted even more.
Bitcoin mining is rapidly evolving into the backbone of AI infrastructure — powered by digital energy, not just computation.
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