MARA Holdings, Inc. (MARA) Form 8-K — Aug 6, 2026
MARA Holdings reported Q2 2026 revenue of $174.9 million, down 27% from $238.5 million a year earlier, and swung to a net loss of $611.3 million, or ($1.60) per diluted share, from net income of $808.2 million ($1.84 per share) in Q2 2025. Adjusted EBITDA was negative $360.9 million versus positive $1.2 billion in the prior-year quarter. The loss was driven primarily by a $343.0 million unrealized bitcoin mark-to-market loss amid a 45% year-over-year decline in bitcoin's price, while operating metrics improved: energized hashrate rose 22% to 70.3 EH/s, cost per petahash per day fell 4% to $27.7, and MARA won 700 blocks.
Key figures
- Revenue
- 174900000
- Debt Amount
- 600000000
- Revenue Yoy
- -27%
- Cash Position
- 421300000
- Interest Rate
- 7.56% (weighted average cost of debt on new BTC-backed facilities)
- Blocks won
- 700
- Btc sold q2
- 2213
- Btc holdings
- 35577
- Btc mined q2
- 2422
- Cost per kwh
- 0.04
- G and a ex sbc
- $69.5 million (vs. $40.1 million in Q2 2025)
- Adjusted ebitda
- -$360.9 million (vs. $1.2 billion in Q2 2025)
- H1 2026 net loss
- -$1,873.7 million
- Avg btc sale price
- 73078
- Btc holdings value
- ~$2.1 billion at $58,524 spot price on June 30, 2026
- Total cash and btc
- ~$2.5 billion including loaned/pledged BTC
- Btc loaned or pledged
- 9270
- Litigation settlement
- 10200000
- Prior year net income
- $808.2 million ($1.84 diluted EPS) in Q2 2025
- Energized hashrate ehs
- 70.3
- Target power portfolio
- up to 4.8 GW
- Unrealized btc mtm loss
- 343000000
- Avg btc production price
- 71325
- Cost per petahash per day
- 27.7
- Energized hashrate growth
- +22% vs. 57.4 EH/s in Q2 2025
- Matagorda site capacity gw
- 2
- Btc lending interest income
- ~$4.3 million on 4,742 BTC loaned
- Acquisition integration costs
- 15400000
- Purchased energy cost per btc
- 38690
Price after filing
Close on the filing date to close N calendar days later (from $11.75). Historical, not a forecast.
AI analysis
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