- MARA Holdings reported a net loss of $611.3 million for Q2 2026, a significant decline from a profit of $808.2 million in Q2 2025.
- The company's revenue fell 27% year-over-year to $174.9 million, missing analyst estimates.
- Adjusted EBITDA for Q2 2026 was -360.9 million, a stark contrast to the positive $1.2 billion reported in the previous year.
- During Q2 2026, MARA Holdings mined 2,422 Bitcoin and ended the quarter with 35,577 BTC, despite a 22% increase in energized hashrate to 70.3 EH/s.
- On August 6, 2026, the company presented its Q2 results, emphasizing a strategic shift towards a 'Digital Infrastructure Triad' and plans to expand to 4.8 GW of capacity.
- The Long Ridge acquisition is pending approval from the FERC, with expectations for a decision before year-end.
- In Q2 2025, MARA Holdings reported revenue of $238.5 million and a net income of $808.2 million, showcasing a stark contrast to the current year's performance.
- The company attributed much of its Q2 2026 losses to unrealized mark-to-market changes on digital assets, as Bitcoin's average price declined 28% year-over-year.
MARA Holdings Inc. reported a staggering net loss of $611 million for Q2 2026, a sharp decline from a $808 million profit a year earlier. Revenue fell 27% year-over-year to $174.9 million, missing analyst expectations by 16.1%.127
The company attributed much of the loss to $343 million in unrealized mark-to-market adjustments on digital assets, as Bitcoin's average price dropped 28% year-over-year. Despite mining 2,422 Bitcoin in the quarter, its holdings decreased 29% to 35,577 BTC.4
In response to these challenges, MARA is pivoting towards artificial intelligence and power infrastructure, acquiring a 2 GW site in Texas. The company believes that controlling power will be crucial for the next generation of AI infrastructure. CEO comments highlighted that, "Ultimately, we do not view Bitcoin mining and AI infrastructure as competing businesses. They are complementary applications of the same underlying asset: power."
MARA's energized hashrate increased 22% year-over-year to 70.3 exahash per second, and operational efficiency improved, cutting costs per petahash by 4% to $27.7. However, these gains were overshadowed by Bitcoin's price decline, which significantly impacted financial results.
The company is also expanding its power portfolio to approximately 4.8 GW, positioning itself as a major player in digital infrastructure power capacity. The pending Long Ridge acquisition is expected to contribute $144 million in annualized EBITDA, further solidifying its strategic transformation.56
“The company mined 2,422 Bitcoin in the quarter, ending with 35,577 BTC, down 29% year-over-year. Management highlighted the 'Digital Infrastructure Triad' and expects to sign at least two leases before year-end, with the Long Ridge acquisition pending FERC approval.”
Yahoo Finance UK
