MARA - CFO Salman Khan Q&A - Q3 Earnings & Strategy!

We unpack MARA Q3 records, liquidity moves, and a power-first strategy that treats electricity as the core asset and compute as an allocation decision. We also dig into AI inference, grid balancing, policy, and how to scale internationally without losing discipline. • record revenue, 60.4 EH/s, growing Bitcoin treasury • $1.025b 0% convert, liquidity and optionality • electrons as moat and low-cost power strategy • FASB swings versus real free cash flow • capex discipline, depreciation, and ...