MARA Stock Plummets on $611M Loss Despite AI Pivot

Mara Holdings (NASDAQ: MARA) reported a net loss of $611.5 million in Q2 2026, leading to a 5.25% drop in its stock price on August 7.

The company's pivot towards AI infrastructure after acquiring Exaion Holdings and announcing plans to acquire Long Ridge Energy for $1.5 billion did not offset the losses from its Bitcoin stash, which dropped in value.

Mara Holdings holds 35,577 BTC worth $2.1 billion, making it one of the largest public holders of BTC after Strategy, Metaplanet, and Twenty One Capital.