MARA Holdings Integrates Energy and AI Compute, Expands into New Markets
MARA Holdings (MARA) is a unique stock that integrates energy and AI compute capabilities. The company's recent expansion into providing computing capacity for AI inference has opened a massive new market, with efficient cost-per-token becoming a growing focus of AI companies.
The area MARA believes is most interesting is AI at the edge, which is all about inference. This is a really exciting area as they move into providing digital infrastructure to the AI industry, because it's the exact same infrastructure that's used by both industries.
MARA has deployed up to 70.3 EH/s (Exahashes per second) in Q2 2026, up 22% year-to-year from 57.4 EH/S. The company had a total capacity of 70 quintillion hashing calculations every single second, produced by 490,000 active, highly efficient ASIC mining rigs.
MARA operates at the intersection of three of the fastest-growing industries on Earth: energy, compute, and digital capital. However, current energy prices and the steep depreciation of advanced mining rigs lead to an estimated all-in production cost of $126,500 to $153,040 per Bitcoin. This makes the Bitcoin mining operation unprofitable at mid-2026 Bitcoin prices.