The latest data point for Q1'26 shows ROA at -29.0%, indicating a significant deterioration in asset efficiency, while ROE and ROIC have no data available for this period. This follows a sharp decline in Q4'25, where ROA dropped to -23.5%, ROE to -49.2%, and ROIC to -23.8%, highlighting ongoing profitability challenges for MARA. Over the period from Q2'23 to Q1'26, the chart reveals a volatile trend in operating returns, with all metrics—ROA, ROE, and ROIC—exhibiting cyclical swings between positive peaks (e.g., ROA reaching 11.4% in Q1'24 and ROE at 13.8% in Q4'23) and deep negatives (e.g., ROA at -6.4% in Q2'24 and ROE at -14.3% in Q1'25). Early quarters post-Q2'23 showed recovery and growth into positive territory through Q1'24, but subsequent periods marked by mid-2024 lows transitioned into inconsistent performance, culminating in the steep Q4'25 downturn, suggesting sensitivity to operational or market factors in the cryptocurrency sector. Overall, the line chart underscores an unstable trajectory without sustained improvement.