MARA swings to Q2 loss as Bitcoin’s slump masks higher output
Bitcoin miner MARA posted its highest quarterly Bitcoin production in over a year, but was overshadowed by a 28% decline in the average price of Bitcoin.
Bitcoin miner MARA reported a net loss of $611.3 million for the second quarter of 2026, marking a sharp contrast to its profit in the same period last year. The loss, equal to $1.60 per diluted share, was primarily attributed to a 28% drop in the average Bitcoin price, despite the company achieving its highest quarterly Bitcoin production in over a year.
MARA mined 2,422 Bitcoins during the quarter, a 3% increase from the previous year. The company's chief financial officer, Salman Khan, acknowledged the challenging revenue environment caused by declining Bitcoin prices during an earnings call. MARA currently holds 35,577 Bitcoins, valued at $2.1 billion. The company is expanding its mining capacity and exploring AI and high-performance computing infrastructure, with plans to sign at least two AI/HPC lease agreements by year-end.
MARA is also pursuing significant acquisitions, including a $1.5 billion deal for Long Ridge Energy & Power in Ohio, which could support up to 600 megawatts of AI and critical-IT load.
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