Quarterly ResultMay 11, 2026, 04:22 PM
MARA Holdings Q1 Net Loss Widens to $1.26B; Revenue Down 18%
AI Summary
MARA Holdings reported a significant increase in net loss for Q1 2026, reaching $1.26 billion, compared to a $533.4 million loss in the prior year. Revenue declined by 18.36% to $174.6 million. The company initiated a restructuring plan with $45.9 million in costs, reallocating resources towards AI initiatives due to declining bitcoin prices. Additionally, MARA completed two acquisitions: Exaion SaS for $174.5 million to expand AI/HPC capabilities and a 42 MW data center for $25.2 million.
Key Highlights
- Net loss widened to $1.26 billion in Q1 2026, up from $533.4 million in Q1 2025.
- Revenue decreased by 18.36% to $174.6 million for the three months ended March 31, 2026.
- Diluted net loss per share was $(3.31) in Q1 2026, compared to $(1.55) in Q1 2025.
- Incurred $45.9 million in restructuring costs, driven by a strategic shift to AI and declining bitcoin prices.
- Acquired Exaion SaS for $174.5 million, expanding into AI/HPC infrastructure.
- Acquired a 42 MW data center from Mining of the West, LLC for $25.2 million.
- Cash and cash equivalents decreased to $513.7 million from $547.1 million sequentially.
- Total digital assets decreased from $3.37 billion to $1.73 billion sequentially.