MARA Holdings Suffers $611 Million Loss Amid Bitcoin Price Decline
MARA Holdings, the largest publicly traded Bitcoin miner, reported a significant loss of over $611 million for Q2 2026. The company's revenue fell 27% year-over-year to $174.9 million from $238.5 million in Q2 2025.
The widening gap between MARA's growing computing capacity and the falling value of Bitcoin on its balance sheet contributed to the loss, with holdings down nearly a third despite increased production. The company mined more units than a year ago, but the average price of Bitcoin dropped by 28% year-over-year, reducing revenue by about $65.9 million.
MARA also posted an unrealized loss of $343 million on its digital holdings as BTC fell about 45% from the same period last year. The miner continued to expand operationally, with energized hashrate climbing 22% to 70.3 EH/s and production rising 3% to 2,422 BTC.