MARA Holdings Reports $611 Million Net Loss for Q2 2026
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Key Takeaways
- MARA reported a Q2 2026 net loss of $611.3 million on revenues of $174.9 million.
- Energized hashrate grew 22% year-over-year to 70.3 EH/s, with 2,422 BTC produced in the quarter.
- Digital asset fair value adjustments resulted in a $249.6 million loss for the period.
- Total bitcoin holdings stood at 35,577 BTC as of June 30, 2026, including 9,270 BTC pledged or loaned.
MARA Holdings, Inc. (NASDAQ: MARA) reported a net loss of $611.3 million for the second quarter ended June 30, 2026, a significant decrease from the $808.2 million net income recorded in the same period last year. The company's quarterly revenue fell 27% to $174.9 million, down from $238.5 million in the second quarter of 2025.
Adjusted EBITDA for the period was negative $360.9 million, compared to $1.2 billion in the second quarter of 2025.
Operationally, MARA increased its energized hashrate by 22% year-over-year, reaching 70.3 EH/s. The company produced 2,422 BTC during the quarter, while the total number of blocks won increased 1% to 700. No bitcoin was purchased during the three-month period ending June 30, 2026.
As of June 30, 2026, the company held 35,577 BTC, valued at approximately $2.1 billion. This total includes 9,270 BTC that are currently loaned or pledged as collateral. The total bitcoin holdings represent a 29% decrease compared to the same date in 2025.
