Marathon Reports Large Loss, Announces AI Data Centers

Marathon Digital (MARA) reported a Q4 2025 net loss of $1.71 billion, or $4.52 per diluted share, versus a $528.3 million net income in Q4 2024, and said revenue fell 6% to $202.3 million, according to a shareholder letter filed with the SEC. The company cited a $1.50 billion fair‑value hit from Bitcoin's price decline and outlined a Starwood joint venture to develop >1GW AI/HPC data centers.