MARA Announces Bitcoin Production and Mining Operation Updates for September 2025

218 Blocks Won in September , 5% Increase M/M
736 BTC Produced in September, 4% Increase M/M
Increased BTC Holdings* to 52,850 BTC

MARA Holdings, Inc. (NASDAQ: MARA ) ("MARA" or the "Company") a leading digital energy and infrastructure company, today published unaudited bitcoin ("bitcoin" or "BTC") production updates for September 2025.

Management Commentary

"In September, we produced 218 blocks, a 5% increase over August, demonstrating the continued strength and resilience of our operations even as global hashrate grew 9% month-over-month to an average of 1,031 EH/s," said Fred Thiel, MARA's chairman and CEO. "This growth in production underscores our ability to execute consistently, even as mining becomes more difficult.

"Energized hashrate increased 1% month-over-month. At our Texas wind farm, all containers and miners are now fully deployed and connected, keeping us on track to achieve full operational status in the fourth quarter. Since assuming full control of our site in Hannibal, Ohio, which is now running at 100% capacity with 86 MW online and an additional 14 MW targeted by year-end, we have increased uptime at the site to 99%. Fleet uptime was 99% overall, aside from temporary weather-related downtime at Garden City."

Operational Highlights and Updates

Figure 1: Operational Highlights

1. These metrics are MARAPool only and do not include blocks won from joint ventures.
2. Defined as the total amount of block rewards including transaction fees that MARA earned during the period divided by the total amount of block rewards and transaction fees awarded by the Bitcoin network during the period.

NM - Not Meaningful

As of September 30, 2025, the Company held a total of 52,850 BTC*. During the month, the Company's digital asset management activities resulted in a net sale of BTC.

*Includes bitcoin that is loaned, actively managed or pledged as collateral

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under the heading "Risk Factors" in our most recent annual report on Form 10-K and any other periodic reports that we may file with the U.S. Securities and Exchange Commission (the "SEC"). If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Forward-Looking Statements" below.

The operational highlights and updates presented in this press release pertain solely to our BTC mining operations. Detailed information regarding our other operations can be found in our periodic reports filed with the SEC.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. All statements, other than statements of historical fact, included in this press release are forward-looking statements. The words "may," "will," "could," "anticipate," "expect," "intend," "believe," "continue," "target" and similar expressions or variations or negatives of these words are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements include, among other things, statements related to our ability to grow production despite increasing mining difficulty and the expected timing of full operations at our Texas wind farm. Such forward-looking statements are based on management's current expectations about future events as of the date hereof and involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Subsequent events and developments, including actual results or changes in our assumptions, may cause our views to change. We do not undertake to update our forward-looking statements except to the extent required by applicable law. Readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements included herein are expressly qualified in their entirety by these cautionary statements. Our actual results and outcomes could differ materially from those included in these forward-looking statements as a result of various factors, including, but not limited to, the factors set forth under the heading "Risk Factors" in our most recent annual report on Form 10-K, and any other periodic reports that we may file with the SEC.

About MARA

MARA (NASDAQ: MARA) deploys digital energy technologies to advance the world's energy systems. Harnessing the power of compute, MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. Building on its expertise to redefine the future of energy, MARA develops technologies that reduce the energy demands of high-performance computing applications, from AI to the edge.

For more information, visit www.mara.com , or follow us on:

Twitter: @MARAHoldings
LinkedIn: www.linkedin.com/company/maraholdings
Facebook: www.facebook.com/MARAHoldings
Instagram: @maraholdingsinc

MARA Company Contact:
Telephone: 800-804-1690
Email: ir@mara.com

MARA Media Contact:
Email: marathon@wachsman.com