Bitcoin Miner MARA Posts $611M Loss as Revenue Falls 27%

The miner's BTC holdings dropped 29% year over year as the company sold to support liquidity and capital projects. MARA Holdings, the largest publicly traded Bitcoin miner, reported a net loss of over $611 million for the second quarter of 2026, as revenue fell 27%, the company said in a shareholder letter released August 6. The quarter shows a widening gap between MARA’s growing computing capacity and the falling value of the Bitcoin on its balance sheet, with holdings down nearly a third even as the company mined more units than a year ago. Bitcoin Price Decline Hits MARA’s Quarterly Results According to MARA, revenue in Q2 2026 fell 27% year over year to $174.9 million from $238.5 million. The company posted a net loss of $611.3 million, compared with net income of $808.2 million a year earlier, while adjusted EBITDA dropped to a loss of $360.9 million from a positive $1.2 billion. The company attributed much of the decline to Bitcoin’s lower price. Revenue benefited from higher production, but a 28% year-over-year drop in Bitcoin’s average price reduced revenue by about $65.9 million. MARA also posted an unrealized loss of $343 million on its digital holdings as BTC fell about ...