MARA swings to $611.3 million Q2 2026 net loss; revenue falls 27% to $174.9 million
MARA reported a net loss of $611.3 million, or $1.60 per diluted share, for the quarter ended June 30, 2026, compared with net income of $808.2 million, or $1.84 per diluted share, a year earlier. Revenue fell 27% to $174.9 million, and the company attributed the loss mainly to a $343.0 million unrealized bitcoin mark-to-market loss as bitcoin's price declined. For shareholders, the results reflect the sensitivity of MARA's earnings to bitcoin prices, and the company also disclosed $600.0 million of new bitcoin-backed borrowing to help fund its pending Long Ridge acquisition.
Key points
- Net loss of $611.3 million, or $1.60 per diluted share, versus net income of $808.2 million, or $1.84 per diluted share, in Q2 2025
- Revenue of $174.9 million, down 27% from $238.5 million in Q2 2025; adjusted EBITDA was negative $360.9 million
- Net loss includes a $343.0 million loss related to the fair value of digital assets
- Subsequent to quarter-end, two bitcoin-backed credit facilities totaling $600.0 million were entered into with Coinbase and Two Prime at a weighted average cost of debt of 7.56%
The filing
Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 06, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.