v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 196,215 $ 391,771
Restricted cash 12,000 12,000
Digital assets, current portion 3,098 4,327
Other receivables 8,628 6,345
Deposits 22,744 18,778
Derivative instrument, current portion 21,072 1,542
Prepaid expenses and other current assets 28,069 35,610
Total current assets 291,826 470,373
Digital assets, net of current portion 2,745,302 3,223,989
Digital assets - receivable, net 1,164,189 960,057
Property and equipment, net 1,566,069 1,549,491
Advances to vendors 134,045 121,298
Investments 137,214 111,493
Long-term deposits 240,774 240,651
Long-term prepaids 14,194 14,221
Operating lease right-of-use assets 27,335 16,874
Derivative instrument, net of current portion 14,703 7,405
Goodwill 82,751 82,751
Intangible assets, net 2,432 2,714
Deferred tax assets 23,612 0
Total long-term assets 6,152,620 6,330,944
TOTAL ASSETS 6,444,446 6,801,317
Current liabilities:    
Accounts payable 6,489 12,556
Accrued expenses 45,750 76,887
Line of credit, current portion 300,000 0
Operating lease liabilities, current portion 872 239
Finance lease liability, current portion 168 168
Other current liabilities 15,091 5,347
Total current liabilities 368,370 95,197
Notes payable 2,248,549 2,246,578
Line of credit, net of current portion 50,000 200,000
Operating lease liabilities, net of current portion 33,298 22,977
Finance lease liability, net of current portion 3,709 3,709
Deferred tax liabilities 0 88,503
Other long-term liabilities 11,840 8,411
Total long-term liabilities 2,347,396 2,570,178
Commitments and Contingencies (Note 16)
Equity:    
Preferred stock, par value $0.0001 per share, 50,000,000 shares authorized; no shares issued and outstanding at March 31, 2025 and December 31, 2024 0 0
Common stock, par value $0.0001 per share, 800,000,000 shares authorized; 346,279,403 shares and 340,258,453 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 34 34
Additional paid-in capital 4,284,279 4,155,386
Accumulated deficit (559,586) (26,387)
Total stockholders’ equity attributable to MARA 3,724,727 4,129,033
Noncontrolling interest 3,953 6,909
Total equity 3,728,680 4,135,942
TOTAL LIABILITIES AND EQUITY $ 6,444,446 $ 6,801,317

Source

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