MARA Holdings Reports $1.26 Billion Net Loss for Q1 2026
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Key Takeaways
- MARA Holdings reported a net loss of $1.26 billion for the first quarter of 2026.
- Quarterly revenue decreased to $174.6 million from $213.9 million in the prior-year period.
- Non-cash fair value adjustments on digital assets and receivables totaled approximately $1.02 billion.
- The company recorded $45.9 million in restructuring costs during the quarter.
- Cash and cash equivalents totaled $513.7 million as of March 31, 2026.
MARA (NASDAQ: MARA) Holdings, Inc. reported its financial and operational results for the first quarter ended March 31, 2026, detailing a fundamental shift from a pure play Bitcoin miner to a vertically integrated digital infrastructure company. The company is currently prioritizing the acquisition and conversion of "connected power" assets to support high density workloads across AI, high performance computing (HPC), and Bitcoin mining.
For the first quarter of 2026, MARA reported total revenue of $174.6 million, an 18% decrease from the $213.9 million generated in the same period last year. Management attributed this decline primarily to an 18% drop in the average price of Bitcoin during the quarter.
Other financial highlights included:
Net Loss: Reported at $1.3 billion for the quarter, compared to a net loss of $533.4 million in Q1 2025. The loss was driven largely by a $1.0 billion non cash unfavorable mark to market adjustment on the company's Bitcoin holdings.
