MARA Sees 29% YoY Decline in Bitcoin Holdings Amid Revenue Drop

MARA, the largest publicly traded Bitcoin miner, reported a decline in its Bitcoin holdings and financial performance for Q2 2026. According to Wu Blockchain's analysis, MARA ended the quarter with 35,577 BTC in reserves, a 29% year-over-year decline.

This drop in Bitcoin reserves was accompanied by a 27% fall in revenue to $175 million and a net loss of $611 million. The company's adjusted EBITDA was negative at $361 million.

In contrast, MARA's hashrate increased by 22% to 70.3 EH/s, while Bitcoin production rose 3% to 2,422 BTC. The daily cost per unit of hashrate fell 4% to $27.7.