MARA Sees Revenue Plummet Amidst Slumping Bitcoin Prices

MARA Holdings reported a disappointing second quarter of 2026, with revenue falling by 27% year over year to $174.9 million.

The decline was primarily driven by a 28% drop in the average Bitcoin price, which had a significant impact on the company's bottom line.

MARA recorded a net loss of $611.3 million, or $1.60 per diluted share, compared to net income of $808.2 million ($1.84 per share) in the prior-year period.

The adjusted EBITDA swung to negative $360.9 million, largely due to a $343 million unrealized mark-to-market loss on digital assets.