Bitcoin Price Decline Hits Mining Companies Hard

Major bitcoin mining companies, MARA Holdings and CleanSpark, reported significant losses in their second quarter financials due to declining bitcoin prices.

MARA Holdings, the largest U.S. mining company, experienced a net loss of $611.3 million in Q2 2026, compared to a profit of $808.2 million in the same period last year.

The decline in bitcoin's price was cited as the main reason for MARA's losses, with revenue falling 27% from $238.5 million to $174.9 million.

Adjusted EBITDA fell to negative $360.9 million, down from a profit of $1.2 billion in Q2 2025.

CleanSpark also reported significant losses, with a net loss of $239.8 million and adjusted EBITDA falling to negative $113 million.