MARA Holdings, Inc. reported second quarter 2026 financial results showing a net loss of $611.3 million, or $1.60 per diluted share, compared to net income of $808.2 million in the prior year period. Revenue decreased 27% to $174.9 million from $238.5 million, driven by a 28% decline in Bitcoin's average price offsetting an 8% increase in production to 2,422 BTC. Adjusted EBITDA fell to a loss of $360.9 million from $1.2 billion, primarily due to a $343.0 million unrealized mark-to-market loss on digital assets. The company held 35,577 BTC valued at approximately $2.1 billion and maintained $421.3 million in cash. Subsequent to the quarter, MARA secured two Bitcoin-backed credit facilities totaling $600.0 million with Coinbase and Two Prime to fund its Long Ridge acquisition and acquired rights to a 2 GW powered land site in Texas. MARA Holdings operates as a digital infrastructure company focused on Bitcoin mining and AI data center development.
