MARA Holdings Posts $611.3 Million Net Loss Amid Slumping Bitcoin Prices

MARA Holdings reported a $611.3 million net loss in the second quarter of 2026, largely due to lower Bitcoin prices outweighing higher production. The company's diluted loss per share was $1.60.

Bitcoin production rose 3% from last year to 2,422 BTC, but the average price fell 28%, offsetting the benefit of increased output. As a result, MARA Holdings posted a net loss compared to net income of $808.2 million in the same period last year.

The company held 35,577 BTC with a fair value of about $2.1 billion as of June 30, making it the world's fourth-largest publicly traded corporate holder of Bitcoin. MARA Holdings is expanding its AI and HPC infrastructure business by converting mining facilities into AI and enterprise data centers.

Chief Financial Officer Salman Khan said that lower Bitcoin prices and a restructuring of the company's power portfolio and capital structure defined the second quarter. The company focused on fundamentally reshaping the business despite a difficult revenue environment, he added.