MARA's Bitcoin Reserves Sink into Red with $611 Million Q2 Loss

MARA Holdings Inc., which operates under the ticker MARA, recorded a significant net loss of $611 million for the second quarter of 2026. This substantial loss is attributed to the decline in the value of its Bitcoin reserves, which outweighed an increase in production.

The company's revenue fell by 27% year-over-year to $174.88 million during the period, while the adjusted loss per share was $1.60. These results sharply missed Wall Street expectations, with analysts predicting a profit of $0.26 per share.

MARA mined 2,422 Bitcoin without making any additional purchases and ended the quarter with 35,577 Bitcoin on its balance sheet, representing a 29% decline from the same period in the previous year.