The largest publicly traded Bitcoin miner posted a $611 million net loss and negative $361 million adjusted EBITDA for Q2 2026.
Marathon Digital Holdings reported a 29% year-over-year decline in Bitcoin holdings to 35,577 BTC in Q2 2026, alongside a 27% revenue drop to $175 million. The company recorded a net loss of $611 million and adjusted EBITDA of negative $361 million.
Bitcoin production rose 3% to 2,422 BTC, while year-end hashrate increased 22% to 70.3 EH/s. Daily cost per unit of hashrate fell 4% to $27.7. Combined cash and Bitcoin holdings totaled approximately $2.5 billion.
The results reflect ongoing pressure on mining profitability amid market volatility and operational cost challenges.