This post was updated on January 8, 2026 to reflect the latest available CDP scoring information and improve clarity.

As conversations continue around energy use and emissions, transparent climate reporting is emerging as a meaningful differentiator in Bitcoin mining. That is why MARA voluntarily reports its environmental data through CDP, a leading global climate disclosure platform with a 20-year track record of promoting organizations to measure, report, and improve sustainability.

While participation is voluntary, climate disclosure is increasingly expected of established businesses. Investors, analysts, and policymakers seek comparable information across companies, and CDP provides a consistent framework for doing just that.

What CDP Scores Measure

CDP scores are designed to show how mature an organization’s climate disclosure and management practices are based on what is reported in its annual CDP questionnaire. CDP evaluates responses across four progression levels:

• Disclosure – the completeness of reporting

• Awareness – how thoroughly a company evaluates climate issues and how they intersect with the business

• Management – evidence of actions taken to manage impacts

• Leadership – best-practice strategy and actions

Our 2025 Score Snapshot

MARA’s overall CDP score improved from a D in 2024 to a C in 2025, reflecting meaningful progress across several key areas: Verification of Emissions, Public Policy Engagement & Industry Collaboration, Emissions Reduction Initiatives & Low Carbon Products, and Business Strategy. Together, these improvements point to a clearer articulation of our climate strategy, stronger external engagement, and more robust emissions assurance practices.

Because scores are anchored to what is disclosed for a specific reporting year, they are best read as a snapshot in time, not a full description of everything a company is doing. CDP published the 2025 public corporate scores in the beginning of 2026, and we intend to complete a deeper diagnostic of this response to further refine our approach.

Why CDP Matters to MARA

CDP is widely viewed as a gold standard in climate reporting because it emphasizes data-driven measurement and strong governance. Last year, MARA became the first Bitcoin miner to report to CDP, setting a new standard for transparency in the industry. To date, we remain the only miner to have submitted a disclosure. By reporting through CDP, MARA signals that climate transparency is as fundamental to our business as financial reporting. Our second disclosure shows meaningful progress, including stronger verification and governance, and reinforces our commitment to measure what matters and disclose it openly.

That commitment extends beyond CDP. Our 2024 Social Responsibility Report offers a broad view of how we manage our environmental, social, and governance priorities, providing stakeholders with a complete picture of our progress over the year.

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Verification & Governance That Strengthens Credibility

Independent verification of emissions is a direct signal of data quality. In 2024, MARA achieved limited assurance verification of its Scope 1, 2, and 3 greenhouse gas emissions from an independent third-party verifier, Trinity Consultants. For institutional investors and ratings agencies, that assurance increases confidence in reported emissions and creates a foundation for more advanced reporting in the future.

Strong governance reinforces that credibility.

In 2024, MARA formed a Social Responsibility Committee with Board level oversight of social responsibility, climate, and ESG risks and opportunities. This structure supports consistent improvement over time, especially as expectations evolve across markets and public policy.

Raising the Bitcoin Standard of Transparency

MARA’s work with CDP reflects a data-driven, transparency-first mindset: improve data quality, strengthen governance, and report in a way that stakeholders can trust. MARA is focused on steady, realistic improvement. For us, voluntary disclosure is aligned with long-term purpose, impact, and resilience.