MARA Posts Q2 Loss as Bitcoin Slump Masks Higher Production

MARA, a Bitcoin miner, reported a net loss of $611.3 million in Q2 2026, reversing its profit from the same period last year. The company's net income had been $808.2 million in Q2 2025, but a 28% decline in the average Bitcoin price more than offset higher production.

MARA mined 2,422 Bitcoin in the quarter, a 3% increase from the prior year period. However, this was not enough to counteract the impact of the declining Bitcoin price on its revenue. The company's total Bitcoin holdings stood at 35,577 units as of June 30, with a fair value of $2.1 billion.

MARA is expanding into AI and high-performance computing infrastructure through acquisitions and partnerships. In February, it acquired Exaion SaS, which operates HPC data centers and secure cloud and AI infrastructure. The company aims to sign at least two AI/HPC lease signings by year-end, with CEO Fred Thiel stating that every megawatt should be deployed into its highest-value application.