MARA Holdings Q2 revenue falls 27% to $175M, reports $611M net loss

According to Mars Finance, Bitcoin mining company MARA Holdings released its second-quarter 2026 financial results, reporting revenue of $175 million, a 27% year-over-year decline; a net loss of $611 million, or $1.60 per share, compared to a net profit of $808 million in the same period last year; and an adjusted EBITDA loss of $361 million, compared to a profit of $1.245 billion in the prior-year quarter. As of the end of the quarter, the company held 35,577 bitcoins (including lent and pledged coins), a 29% decrease from 49,951 bitcoins at the same time last year; and energized hash rate reached 70.3 EH/s, up 22% year-over-year. The company produced 2,422 bitcoins during the quarter, a 3% year-over-year increase, with 700 block rewards received. At quarter-end, the company held unrestricted cash and bitcoin with a combined value of approximately $2.5 billion. During the period, MARA entered into a strategic joint venture with Starwood to acquire the Long Ridge energy assets (with potential capacity exceeding 1 GW) and signed an agreement to purchase a 2 GW site in Matagorda County, Texas, increasing the total potential capacity of its portfolio to approximately 4.8 GW. The company also announced the establishment of a new $100 million credit facility, with an initial collateralization of 18,750 bitcoins. MARA is accelerating its transition from a pure Bitcoin mining company to an operator of digital infrastructure for AI and high-performance computing.