MARA Holdings Slumps to $611 Million Loss as Bitcoin Price Declines

MARA Holdings, the largest publicly traded Bitcoin miner, reported a significant decline in revenue and profits for the second quarter of 2026. The company posted a net loss of $611.3 million, compared to a net income of $808.2 million in the same period last year.

The decline was largely attributed to the falling value of Bitcoin, which saw an average price drop of 28% year-over-year. This reduced revenue by approximately $65.9 million. The company's growing computing capacity did not offset the losses, with its digital holdings resulting in an unrealized loss of $343 million.

Operationally, MARA continued to expand, increasing energized hashrate by 22% and production by 3%. However, the cost per petahash per day improved only slightly, while purchased energy costs rose. The company ended June with 35,577 BTC worth approximately $2.1 billion, down nearly a third from the same period last year.