The companies saw profits and Bitcoin reserves rise in the third quarter of 2025 as they moved further into high-performance computing and energy development. Bitcoin miners MARA Holdings and Hut 8 posted strong third-quarter results on Tuesday, with both reporting sharply higher profits and expanding Bitcoin reserves. MARA’s revenue climbed 92% year-over-year to $252 million in the third quarter of 2025, swinging from a $125 million loss to $123 million in net income over the period, while Hut 8’s revenue nearly doubled to $83.5 million with profits of $50.6 million. Both miners also strengthened their balance sheets. MARA Holdings ended the quarter with 52,850 Bitcoin (BTC), nearly doubling its reserves from 26,747 BTC a year earlier. Hut 8 reported 13,696 BTC in its strategic reserve, up from 9,106 BTC in the same period last year. Read more
In an interview with Cointelegraph, economist Peter Schiff warns that Bitcoin’s gains are built on political and Wall Street support that may not last. In an exclusive interview with Cointelegraph, veteran economist and gold advocate Peter Schiff issued one of his starkest warnings yet about Bitcoin’s future, and the powerful forces he believes have inflated it. Schiff argues that the latest Bitcoin (BTC) bull market isn’t organic, but rather propped up by political influence in Washington, DC and Wall Street’s self-interest. Despite being proven wrong multiple times in the past, Schiff is doubling down on his statement that Bitcoin is a “bubble” and will eventually “go to zero.” The economist challenges the mainstream narrative that Bitcoin protects investors from inflation or dollar weakness, warning instead that the same institutions Bitcoin was meant to disrupt are now the ones keeping it alive. Read more
CleanSpark expanded its power capacity and secured a Texas site for its new AI campus, reflecting a broader shift among Bitcoin miners toward high-performance computing. Bitcoin miner CleanSpark expanded its power capacity by 28% in October as part of a broader push beyond crypto mining into artificial intelligence and high-performance computing (HPC). The US-based company said it had acquired 271 acres near Houston, Texas, securing 285 megawatts of long-term power for a dedicated AI data center. The move marks one of CleanSpark’s largest steps yet to diversify its operations as demand for energy-intensive computing continues to surge. CleanSpark’s AI move also led to a new partnership with Submer, a company that offers cooling solutions for data centers. “While Bitcoin remains an integral part of our business, we’re equally focused on developing large-scale data centers that will power the next generation of innovation across the digital world,” said Matt Schultz, CleanSpark’s CEO and chairman. Read more