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November 10 , 2021 MARA ™ Marathon Digital Holdings Reports Third Quarter 2021 Results Revenues Increase 76 % Q3 over Q2 2021 and 6,091 % Year - over - Year to $ 51.7 Million with Non - GAAP Income from Operations of $ 43.5 Million , or $ 0.43 per Diluted Share LAS VEGAS , Nov. 10 , 2021 ( GLOBE NEWSWIRE ) -- Marathon Digital Holdings , Inc. ( NASDAQ : MARA ) ( " Marathon " or " Company " ) , one of the largest enterprise Bitcoin self- mining companies in North America , reported financial results for the third quarter ended September 30 , 2021 . Third Quarter and Recent Financial Highlights * • Increased total revenue to $ 51.7 million , a 76 % increase from $ 29.3 million in the second quarter of 2021 and a 6,091 % increase year - over - year from $ 835,000 in the third quarter of 2020 • Produced 1,252 self - mined bitcoins in the third quarter of 2021 , a 91 % increase from 654 bitcoins in the second quarter of 2021 ; as of September 30 , 2021 , produced 2,098 self - mined bitcoins in 2021 • Marathon's investment fund , which purchased 4,812.66 BTC for approximately $ 150 million in January 2021 , increased in fair value by $ 58.8 million during the first nine months of 2021 • Non - GAAP income from operations * was $ 43.5 million , or $ 0.43 per diluted share • Non - GAAP net income ** was $ 85.4 million , or $ 0.85 per diluted share • As of September 30 , 2021 , cash and cash equivalents was $ 32.9 million and total liquidity , defined as cash and bitcoin holdings , was approximately $ 315.6 million • In October , obtained a $ 100 million revolving line of credit , secured by bitcoin and USD , with Silvergate Bank Non - GAAP income from operations excludes the impact of depreciation and amortization of fixed assets , impairment losses on mined cryptocurrency , server maintenance contract amortization , and stock compensation expense . This metric does not include the change in fair value of the Company's investment fund , which purchased 4,812.66 BTC for approximately $ 150 million in January 2021 . ** Non - GAAP net income excludes the impact of depreciation and amortization of fixed assets , impairment losses on mined cryptocurrency , server maintenance contract amortization , and stock compensation expense . This metric includes the change in fair value of the Company's investment fund , which purchased 4,812.66 BTC for approximately $ 150 million in January 2021 . Third Quarter and Recent Bitcoin Mining Highlights