As of Q4'25 (2025-12-31), MARA reported revenue of USD 202.31M, representing a year-over-year decline of 5.6%. This marks a decrease from the previous quarter's revenue of USD 252.41M and a negative YoY growth rate, indicating a reversal from the prior quarters' positive momentum. From Q1'23 to Q4'25, MARA's revenue demonstrated substantial volatility with periods of strong growth, particularly from Q2'23 through Q3'25, where revenue climbed from USD 51.13M to a peak of USD 252.41M. Revenue growth (YoY) was exceptionally high in 2023, peaking at 671% in Q3'23, but began to moderate throughout 2024 and into 2025, eventually turning negative in Q4'25. This suggests that while the company experienced rapid expansion, recent quarters indicate a slowdown and potential normalization in revenue growth.