MARA Holdings, Inc. — Form 8-K
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 68/100
What the filing says
MARA Holdings reported Q2 2026 revenue of $174.9M (down 27% YoY from $238.5M) and net loss of $611.3M (vs. $808.2M profit YoY), driven primarily by a $343M unrealized mark-to-market loss on bitcoin holdings as BTC price fell 45% YoY to $58,524. The company advanced two major acquisitions: (1) Long Ridge transaction with $600M in new bitcoin-backed credit facilities from Coinbase and Two Prime at 7.56% weighted cost, and (2) rights to a 2 GW powered land site in Matagorda County, Texas—together expected to expand power portfolio to 4.8 GW. Operationally, energized hashrate increased 22% to 70.3 EH/s, bitcoin production reached 2,422 BTC (mined), and the company held 35,577 BTC ($2.1B) including 9,270 BTC loaned/pledged as collateral.
Why this rating
Large absolute losses ($611M) and major strategic acquisitions (4.8 GW portfolio) significant relative to $5.7B market cap (~11% and 43% of cap). Negative near-term earnings offset by transformational long-term AI infrastructure positioning.
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