Bitcoin miner MARA reports a net loss for Q2 2026 due to a 28% decline in Bitcoin prices despite record production.
Bitcoin miner MARA reported a net loss of $611.3 million, or $1.60 per diluted share, for Q2 2026, reversing a year-earlier profit of $808.2 million. The loss was driven by a 28% drop in the average Bitcoin price, which offset record quarterly production of 2,422 Bitcoin, a 3% increase from the prior year.
The company’s Bitcoin holdings stood at 35,577, valued at $2.1 billion as of June 30, making it the fourth-largest public Bitcoin holder. Despite higher output, the decline in Bitcoin prices created a challenging revenue environment, according to MARA’s earnings call.
MARA highlighted efforts to transform its power portfolio and capital structure while expanding into AI and high-performance computing infrastructure.